Institute for Wealth Management LLC. Has $335,000 Stock Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Institute for Wealth Management LLC. increased its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 39.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 29,442 shares of the company’s stock after acquiring an additional 8,258 shares during the quarter. Institute for Wealth Management LLC.’s holdings in Warner Bros. Discovery were worth $335,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Fortis Group Advisors LLC acquired a new position in Warner Bros. Discovery in the third quarter valued at approximately $25,000. Peoples Bank KS acquired a new position in Warner Bros. Discovery in the third quarter valued at approximately $27,000. Pacifica Partners Inc. lifted its stake in Warner Bros. Discovery by 118.2% in the fourth quarter. Pacifica Partners Inc. now owns 2,483 shares of the company’s stock valued at $27,000 after buying an additional 1,345 shares during the period. Milestone Investment Advisors LLC acquired a new position in Warner Bros. Discovery in the third quarter valued at approximately $28,000. Finally, Headinvest LLC bought a new stake in shares of Warner Bros. Discovery during the third quarter valued at approximately $28,000. 59.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Macquarie decreased their price objective on Warner Bros. Discovery from $16.00 to $14.00 and set an “outperform” rating for the company in a report on Monday, January 22nd. Rosenblatt Securities upgraded Warner Bros. Discovery from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $7.00 to $10.00 in a report on Thursday, March 21st. Redburn Atlantic downgraded Warner Bros. Discovery from a “buy” rating to a “neutral” rating and set a $11.00 price objective for the company. in a report on Thursday, January 11th. JPMorgan Chase & Co. decreased their price objective on Warner Bros. Discovery from $13.00 to $10.00 and set a “neutral” rating for the company in a report on Monday, February 26th. Finally, Barrington Research decreased their price objective on Warner Bros. Discovery from $18.00 to $16.00 and set an “outperform” rating for the company in a report on Monday, February 26th. Eight equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $14.24.

Warner Bros. Discovery Trading Up 1.1 %

Shares of NASDAQ:WBD opened at $8.40 on Friday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.93 and a current ratio of 0.93. The business has a fifty day moving average price of $8.77 and a two-hundred day moving average price of $10.05. Warner Bros. Discovery, Inc. has a 1 year low of $8.02 and a 1 year high of $14.76.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings data on Friday, February 23rd. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.05). The business had revenue of $10.28 billion during the quarter, compared to the consensus estimate of $10.34 billion. Warner Bros. Discovery had a negative net margin of 7.57% and a negative return on equity of 3.48%. The firm’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.42 EPS. Sell-side analysts anticipate that Warner Bros. Discovery, Inc. will post -0.35 EPS for the current year.

About Warner Bros. Discovery

Warner Bros. Discovery, Inc operates as 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 licenses television programs to its networks and third parties 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.