Cullen Capital Management LLC Raises Stock Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Cullen Capital Management LLC grew its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 12.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 92,230 shares of the company’s stock after buying an additional 9,947 shares during the quarter. Cullen Capital Management LLC’s holdings in Warner Bros. Discovery were worth $975,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Stonebridge Financial Group LLC purchased a new stake in Warner Bros. Discovery in the 4th quarter worth $26,000. SRS Capital Advisors Inc. increased its stake in shares of Warner Bros. Discovery by 313.4% during the fourth quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company’s stock worth $27,000 after purchasing an additional 1,940 shares in the last quarter. Graney & King LLC acquired a new position in shares of Warner Bros. Discovery during the 4th quarter worth about $28,000. Ethos Financial Group LLC purchased a new position in Warner Bros. Discovery in the 4th quarter valued at about $29,000. Finally, Briaud Financial Planning Inc boosted its holdings in Warner Bros. Discovery by 258.1% in the 4th quarter. Briaud Financial Planning Inc now owns 2,775 shares of the company’s stock worth $29,000 after buying an additional 2,000 shares during the last quarter. 59.95% of the stock is owned by institutional investors and hedge funds.

Warner Bros. Discovery Trading Down 11.9 %

Shares of WBD stock opened at $8.07 on Friday. The company has a 50-day moving average of $10.50 and a two-hundred day moving average of $9.77. The firm has a market cap of $19.81 billion, a PE ratio of -1.76, a price-to-earnings-growth ratio of 8.64 and a beta of 1.43. Warner Bros. Discovery, Inc. has a 1-year low of $6.64 and a 1-year high of $12.70. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80.

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 the consensus estimate of $0.10 by ($0.30). Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The company had revenue of $10.03 billion during the quarter, compared to analyst estimates of $10.16 billion. On average, analysts predict that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Insider Activity

In other Warner Bros. Discovery news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of the stock in a transaction dated Monday, March 3rd. The stock was 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 owns 159,932 shares in the company, valued at $1,824,824.12. This trade represents a 12.17 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Bank of America restated a “buy” rating and issued a $14.00 target price on shares of Warner Bros. Discovery in a research report on Thursday, December 12th. Benchmark reaffirmed a “buy” rating and set a $18.00 target price on shares of Warner Bros. Discovery in a research note on Wednesday, February 26th. Raymond James dropped their target price on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an “outperform” rating for the company in a report on Friday. Barrington Research reissued an “outperform” rating and issued a $16.00 price target on shares of Warner Bros. Discovery in a research note on Wednesday, March 5th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and set a $13.00 price objective on shares of Warner Bros. Discovery in a research note on Friday, March 7th. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $11.96.

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.