D.A. Davidson & CO. cut its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD – Free Report) by 0.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 241,520 shares of the company’s stock after selling 2,088 shares during the period. D.A. Davidson & CO.’s holdings in Warner Bros. Discovery were worth $3,646,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently modified their holdings of WBD. State Street Corp bought a new position in Warner Bros. Discovery in the 3rd quarter worth approximately $1,213,212,000. Newport Trust Co boosted its position in shares of Warner Bros. Discovery by 15.4% during the fourth quarter. Newport Trust Co now owns 51,205,017 shares of the company’s stock worth $485,424,000 after acquiring an additional 6,850,256 shares during the last quarter. Geode Capital Management LLC increased its holdings in Warner Bros. Discovery by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 47,773,479 shares of the company’s stock valued at $452,117,000 after acquiring an additional 686,036 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its stake in Warner Bros. Discovery by 124,559.2% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 28,075,738 shares of the company’s stock worth $266,158,000 after purchasing an additional 28,053,216 shares in the last quarter. Finally, Sessa Capital IM L.P. boosted its holdings in shares of Warner Bros. Discovery by 5.4% during the 4th quarter. Sessa Capital IM L.P. now owns 23,450,633 shares of the company’s stock valued at $222,312,000 after purchasing an additional 1,195,666 shares during the last quarter. 56.08% of the stock is currently owned by institutional investors.
Warner Bros. Discovery Price Performance
Shares of WBD stock opened at $12.95 on Tuesday. The company’s 50-day simple moving average is $12.49 and its two-hundred day simple moving average is $13.36. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.84 and a quick ratio of 0.84. Warner Bros. Discovery, Inc. has a one year low of $8.82 and a one year high of $17.65. The company has a market capitalization of $31.55 billion, a P/E ratio of -3.45 and a beta of 1.51.
Wall Street Analysts Forecast Growth
WBD has been the topic of several research reports. Barrington Research raised Warner Bros. Discovery from a “market perform” rating to an “outperform” rating and set a $18.00 target price on the stock in a report on Tuesday, May 16th. 22nd Century Group reaffirmed a “maintains” rating on shares of Warner Bros. Discovery in a report on Monday, May 8th. Wolfe Research lowered shares of Warner Bros. Discovery from an “outperform” rating to a “peer perform” rating in a report on Friday. Truist Financial assumed coverage on shares of Warner Bros. Discovery in a research note on Monday, April 10th. They set a “buy” rating and a $19.00 price target on the stock. Finally, Wells Fargo & Company raised shares of Warner Bros. Discovery from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $13.00 to $20.00 in a research note on Friday, March 17th. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Warner Bros. Discovery presently has a consensus rating of “Moderate Buy” and an average price target of $20.55.
Insiders Place Their Bets
In other Warner Bros. Discovery news, CFO Gunnar Wiedenfels purchased 15,000 shares of Warner Bros. Discovery stock in a transaction dated Thursday, May 25th. The stock was acquired at an average price of $11.22 per share, for a total transaction of $168,300.00. Following the acquisition, the chief financial officer now owns 738,849 shares in the company, valued at approximately $8,289,885.78. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 1.60% of the stock is owned by company insiders.
Warner Bros. Discovery Profile
Warner Bros. Discovery, Inc, operates a media and entertainment company worldwide. It operates through three segments: Studios, Network, and DTC. The Studios segment produces and releases feature films for initial exhibition in theaters; produces and lienses television programs to third parties and networks and direct-to-consumer services; distributes films and television programs to various third parties and internal television; and offers streaming services and distribution through the home entertainment market, themed experience licensing, and interactive gaming.
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