Cibc World Markets Corp Raises Stock Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Cibc World Markets Corp boosted its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 2.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,866,446 shares of the company’s stock after purchasing an additional 39,592 shares during the quarter. Cibc World Markets Corp’s holdings in Warner Bros. Discovery were worth $19,728,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Hauser Brothers GmbH raised its stake in Warner Bros. Discovery by 56.1% in the third quarter. Hauser Brothers GmbH now owns 1,225,000 shares of the company’s stock valued at $10,106,000 after purchasing an additional 440,000 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Warner Bros. Discovery by 3.1% during the 3rd quarter. Principal Financial Group Inc. now owns 2,579,571 shares of the company’s stock valued at $21,281,000 after buying an additional 78,653 shares in the last quarter. Erste Asset Management GmbH purchased a new stake in shares of Warner Bros. Discovery during the 3rd quarter valued at $1,474,000. Blueshift Asset Management LLC bought a new stake in shares of Warner Bros. Discovery during the 3rd quarter worth $588,000. Finally, Natixis Advisors LLC increased its stake in Warner Bros. Discovery by 22.7% in the third quarter. Natixis Advisors LLC now owns 280,982 shares of the company’s stock valued at $2,318,000 after acquiring an additional 52,051 shares during the last quarter. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Warner Bros. Discovery news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were acquired at an average price of $11.41 per share, with a total value of $197,917.86. Following the completion of the purchase, the director now directly owns 159,932 shares of the company’s stock, valued at approximately $1,824,824.12. The trade was a 12.17 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on WBD. Citigroup lifted their price target on Warner Bros. Discovery from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. Guggenheim upped their target price on Warner Bros. Discovery from $11.00 to $12.50 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Moffett Nathanson raised shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $9.00 to $13.00 in a research note on Tuesday, January 21st. Needham & Company LLC reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a research note on Friday, February 28th. Finally, The Goldman Sachs Group lifted their target price on shares of Warner Bros. Discovery from $9.50 to $10.75 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $11.91.

Warner Bros. Discovery Trading Up 2.8 %

Shares of WBD opened at $10.48 on Tuesday. Warner Bros. Discovery, Inc. has a 1-year low of $6.64 and a 1-year high of $12.70. 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 firm’s 50-day moving average price is $10.36 and its 200-day moving average price is $9.49. The firm has a market capitalization of $25.73 billion, a price-to-earnings ratio of -2.29, a PEG ratio of 8.64 and a beta of 1.48.

Warner Bros. Discovery (NASDAQ:WBD) last posted its earnings results on Thursday, February 27th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.30). Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The firm had revenue of $10.03 billion for the quarter, compared to analysts’ expectations of $10.16 billion. Sell-side analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 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.