Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Acquired by Cerity Partners LLC

Cerity Partners LLC increased its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 94.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 81,899 shares of the company’s stock after purchasing an additional 39,687 shares during the period. Cerity Partners LLC’s holdings in Warner Bros. Discovery were worth $932,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Fortis Group Advisors LLC acquired a new position in shares of Warner Bros. Discovery in the 3rd quarter valued at $25,000. Pacifica Partners Inc. boosted 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 acquiring an additional 1,345 shares in the last quarter. Peoples Bank KS acquired a new stake in shares of Warner Bros. Discovery during the third quarter worth about $27,000. Milestone Investment Advisors LLC purchased a new stake in shares of Warner Bros. Discovery in the 3rd quarter valued at about $28,000. Finally, Headinvest LLC acquired a new stake in shares of Warner Bros. Discovery in the 3rd quarter valued at about $28,000. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on WBD. Barclays cut their price target on Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 29th. JPMorgan Chase & Co. dropped their price objective on shares of Warner Bros. Discovery from $13.00 to $10.00 and set a “neutral” rating on the stock in a research note on Monday, February 26th. Barrington Research decreased their target price on shares of Warner Bros. Discovery from $18.00 to $16.00 and set an “outperform” rating for the company in a research note on Monday, February 26th. Benchmark restated a “buy” rating and issued a $20.00 price target on shares of Warner Bros. Discovery in a research report on Monday, March 4th. Finally, Redburn Atlantic cut Warner Bros. Discovery from a “buy” rating to a “neutral” rating and set a $11.00 price objective for the company. in a research report on Thursday, January 11th. Eight equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $14.24.

Warner Bros. Discovery Trading Up 0.8 %

Shares of WBD opened at $8.47 on Tuesday. The firm’s 50-day moving average is $8.77 and its two-hundred day moving average is $10.04. Warner Bros. Discovery, Inc. has a twelve month low of $8.02 and a twelve month high of $14.76. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.90. The firm has a market capitalization of $20.66 billion, a P/E ratio of -6.62 and a beta of 1.51.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings data on Friday, February 23rd. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.05). The firm had revenue of $10.28 billion during the quarter, compared to analysts’ expectations 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 business’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.42 earnings per share. On average, research analysts predict that Warner Bros. Discovery, Inc. will post -0.35 earnings per share for the current fiscal year.

Warner Bros. Discovery Company Profile

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.