New York Life Investment Management LLC Grows Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

New York Life Investment Management LLC boosted its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 0.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 347,767 shares of the company’s stock after purchasing an additional 2,306 shares during the period. New York Life Investment Management LLC’s holdings in Warner Bros. Discovery were worth $3,958,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in WBD. Fortis Group Advisors LLC acquired a new position in shares of Warner Bros. Discovery in the 3rd quarter valued at about $25,000. Peoples Bank KS acquired a new position in Warner Bros. Discovery during the third quarter valued at approximately $27,000. Pacifica Partners Inc. grew its stake in Warner Bros. Discovery by 118.2% during the fourth quarter. Pacifica Partners Inc. now owns 2,483 shares of the company’s stock worth $27,000 after buying an additional 1,345 shares during the period. Milestone Investment Advisors LLC purchased a new stake in Warner Bros. Discovery during the third quarter worth approximately $28,000. Finally, Headinvest LLC acquired a new stake in shares of Warner Bros. Discovery in the third quarter worth $28,000. Institutional investors and hedge funds own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Performance

Shares of NASDAQ WBD opened at $7.97 on Friday. The stock has a market capitalization of $19.44 billion, a P/E ratio of -6.23 and a beta of 1.51. The firm’s 50-day moving average price is $8.45 and its two-hundred day moving average price is $9.87. Warner Bros. Discovery, Inc. has a 52-week low of $7.34 and a 52-week high of $14.76. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.90.

Warner Bros. Discovery (NASDAQ:WBD) last issued its earnings results 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 company had revenue of $10.28 billion during the quarter, compared to analyst estimates of $10.34 billion. Warner Bros. Discovery had a negative return on equity of 3.48% and a negative net margin of 7.57%. Warner Bros. Discovery’s quarterly revenue was down 6.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.42 earnings per share. As a group, sell-side analysts forecast that Warner Bros. Discovery, Inc. will post -0.35 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Macquarie reduced their target price on shares of Warner Bros. Discovery from $16.00 to $14.00 and set an “outperform” rating on the stock in a report on Monday, January 22nd. Redburn Atlantic downgraded Warner Bros. Discovery from a “buy” rating to a “neutral” rating and set a $11.00 target price for the company. in a research report on Thursday, January 11th. JPMorgan Chase & Co. dropped their target price on Warner Bros. Discovery from $13.00 to $10.00 and set a “neutral” rating on the stock in a report on Monday, February 26th. Barrington Research lowered their price objective on shares of Warner Bros. Discovery from $18.00 to $16.00 and set an “outperform” rating for the company in a research report on Monday, February 26th. Finally, Barclays cut their target price 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. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Warner Bros. Discovery currently has an average rating of “Moderate Buy” and a consensus target price of $13.83.

Warner Bros. Discovery 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.