Buttonwood Financial Advisors Inc. Makes New Investment in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Buttonwood Financial Advisors Inc. purchased a new position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 81,385 shares of the company’s stock, valued at approximately $1,021,000.

Other large investors have also modified their holdings of the company. Aspire Private Capital LLC increased its holdings in Warner Bros. Discovery by 33.2% during the 4th quarter. Aspire Private Capital LLC now owns 2,823 shares of the company’s stock worth $26,762,040,000 after purchasing an additional 704 shares during the period. Avantax Advisory Services Inc. raised its holdings in Warner Bros. Discovery by 1.6% in the first quarter. Avantax Advisory Services Inc. now owns 50,356 shares of the company’s stock valued at $760,000 after acquiring an additional 770 shares in the last quarter. New York Life Investment Management LLC lifted its stake in Warner Bros. Discovery by 0.3% in the first quarter. New York Life Investment Management LLC now owns 314,279 shares of the company’s stock worth $4,746,000 after acquiring an additional 799 shares during the last quarter. Deseret Mutual Benefit Administrators grew its holdings in Warner Bros. Discovery by 7.6% during the 1st quarter. Deseret Mutual Benefit Administrators now owns 11,371 shares of the company’s stock worth $172,000 after acquiring an additional 804 shares in the last quarter. Finally, MV Capital Management Inc. increased its position in shares of Warner Bros. Discovery by 57.0% in the 1st quarter. MV Capital Management Inc. now owns 2,421 shares of the company’s stock valued at $37,000 after purchasing an additional 879 shares during the last quarter. Hedge funds and other institutional investors own 58.26% of the company’s stock.

Insiders Place Their Bets

In other news, insider Gerhard Zeiler purchased 38,000 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were acquired at an average cost of $14.09 per share, for a total transaction of $535,420.00. Following the completion of the purchase, the insider now directly owns 329,032 shares in the company, valued at approximately $4,636,060.88. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.60% of the stock is owned by insiders.

Warner Bros. Discovery Stock Performance

WBD stock traded up $0.11 during trading on Friday, hitting $11.84. The company had a trading volume of 30,316,113 shares, compared to its average volume of 20,549,004. The firm has a 50-day moving average price of $12.71 and a 200-day moving average price of $13.16. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.95. The firm has a market cap of $28.86 billion, a PE ratio of -4.29 and a beta of 1.51. Warner Bros. Discovery, Inc. has a 1-year low of $8.82 and a 1-year high of $16.34.

Warner Bros. Discovery (NASDAQ:WBD) last released its earnings results on Thursday, August 3rd. The company reported ($0.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.12). Warner Bros. Discovery had a negative net margin of 16.04% and a positive return on equity of 1.27%. The company had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.44 billion. During the same period in the previous year, the firm posted ($0.11) EPS. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, analysts expect that Warner Bros. Discovery, Inc. will post -1.01 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on WBD shares. Barclays boosted their target price on shares of Warner Bros. Discovery from $14.00 to $15.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 8th. Benchmark reaffirmed a “buy” rating and set a $26.00 price objective on shares of Warner Bros. Discovery in a research report on Monday, August 7th. Morgan Stanley reissued an “equal weight” rating and set a $15.00 target price on shares of Warner Bros. Discovery in a research report on Friday, August 4th. Evercore ISI lowered their price target on Warner Bros. Discovery from $25.00 to $20.00 and set an “outperform” rating for the company in a report on Monday, July 24th. Finally, Wolfe Research downgraded shares of Warner Bros. Discovery from an “outperform” rating to a “peer perform” rating in a research report on Friday, July 7th. One analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Warner Bros. Discovery presently has an average rating of “Moderate Buy” and an average price target of $20.66.

About Warner Bros. Discovery

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.