Friedenthal Financial Acquires New Shares in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Friedenthal Financial purchased a new stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the 4th quarter, HoldingsChannel reports. The firm purchased 73,203 shares of the company’s stock, valued at approximately $774,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. State Street Corp raised its position in shares of Warner Bros. Discovery by 4.1% in the third quarter. State Street Corp now owns 151,285,963 shares of the company’s stock valued at $1,248,109,000 after purchasing an additional 5,898,611 shares during the period. Sessa Capital IM L.P. raised its holdings in Warner Bros. Discovery by 24.7% in the 3rd quarter. Sessa Capital IM L.P. now owns 28,410,428 shares of the company’s stock worth $234,386,000 after acquiring an additional 5,625,545 shares during the period. Mackenzie Financial Corp raised its holdings in Warner Bros. Discovery by 1,216.7% in the 2nd quarter. Mackenzie Financial Corp now owns 3,009,558 shares of the company’s stock worth $22,391,000 after acquiring an additional 2,780,986 shares during the period. Drexel Morgan & Co. lifted its position in Warner Bros. Discovery by 43.5% during the 3rd quarter. Drexel Morgan & Co. now owns 6,600,463 shares of the company’s stock worth $54,454,000 after acquiring an additional 2,000,000 shares during the last quarter. Finally, Clifford Capital Partners LLC acquired a new stake in shares of Warner Bros. Discovery in the second quarter valued at about $14,760,000. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Warner Bros. Discovery

In other Warner Bros. Discovery news, insider Savalle Sims sold 169,436 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $12.36, for a total transaction of $2,094,228.96. Following the transaction, the insider now directly owns 599,317 shares in the company, valued at approximately $7,407,558.12. This represents a 22.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on WBD shares. The Goldman Sachs Group boosted their price objective on Warner Bros. Discovery from $9.50 to $10.75 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Guggenheim raised their price objective on shares of Warner Bros. Discovery from $11.00 to $12.50 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Barrington Research reaffirmed an “outperform” rating and set a $16.00 target price on shares of Warner Bros. Discovery in a research report on Friday, December 13th. Raymond James increased their price target on shares of Warner Bros. Discovery from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Finally, Bank of America restated a “buy” rating and set a $14.00 price objective on shares of Warner Bros. Discovery in a report on Thursday, December 12th. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Warner Bros. Discovery has a consensus rating of “Hold” and an average price target of $11.46.

Warner Bros. Discovery Price Performance

NASDAQ WBD traded up $0.14 on Monday, hitting $9.84. 26,800,287 shares of the company were exchanged, compared to its average volume of 27,692,949. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. The company has a market cap of $24.14 billion, a P/E ratio of -2.15 and a beta of 1.52. Warner Bros. Discovery, Inc. has a 1-year low of $6.64 and a 1-year high of $12.70. The firm has a 50 day moving average of $10.26 and a two-hundred day moving average of $8.65.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.07) by $0.12. The business had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.79 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. Warner Bros. Discovery’s revenue was down 3.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.17) earnings per share. On average, equities analysts predict that Warner Bros. Discovery, Inc. will post -4.37 EPS for the current year.

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.