New York Life Investment Management LLC Acquires 1,497 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

New York Life Investment Management LLC raised its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 0.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 332,326 shares of the company’s stock after purchasing an additional 1,497 shares during the period. New York Life Investment Management LLC’s holdings in Warner Bros. Discovery were worth $3,513,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. State Street Corp raised its position in Warner Bros. Discovery by 4.1% during 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 in the last quarter. Sessa Capital IM L.P. raised its position in Warner Bros. Discovery by 24.7% during the third quarter. Sessa Capital IM L.P. now owns 28,410,428 shares of the company’s stock valued at $234,386,000 after purchasing an additional 5,625,545 shares in the last quarter. EdgePoint Investment Group Inc. raised its position in Warner Bros. Discovery by 2.6% during the third quarter. EdgePoint Investment Group Inc. now owns 21,396,719 shares of the company’s stock valued at $176,523,000 after purchasing an additional 541,192 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its position in Warner Bros. Discovery by 1.6% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 20,889,437 shares of the company’s stock valued at $172,338,000 after purchasing an additional 329,620 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Warner Bros. Discovery by 4.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 15,685,506 shares of the company’s stock valued at $129,405,000 after purchasing an additional 687,612 shares in the last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Performance

Warner Bros. Discovery stock opened at $11.46 on Friday. The stock’s 50 day simple moving average is $10.33 and its two-hundred day simple moving average is $9.25. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a market cap of $28.11 billion, a price-to-earnings ratio of -2.50, a PEG ratio of 8.64 and a beta of 1.49. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.64 and a fifty-two week high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.30). The firm had revenue of $10.03 billion for the quarter, compared to the consensus estimate of $10.16 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. As a group, analysts expect that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Insider Buying and Selling at Warner Bros. Discovery

In other news, insider Savalle Sims sold 169,436 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $12.36, for a total value of $2,094,228.96. Following the sale, the insider now directly owns 599,317 shares of the company’s stock, valued at $7,407,558.12. The trade was a 22.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

WBD has been the topic of a number of research reports. Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a research report on Friday. Rosenblatt Securities lifted their price objective on Warner Bros. Discovery from $9.00 to $13.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Moffett Nathanson upgraded Warner Bros. Discovery from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $9.00 to $13.00 in a report on Tuesday, January 21st. KeyCorp lifted their price objective on Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. Finally, Bank of America reiterated a “buy” rating and issued a $14.00 price objective on shares of Warner Bros. Discovery in a report on Thursday, December 12th. Ten research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $11.75.

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.