Graney & King LLC Takes Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Graney & King LLC acquired a new position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 2,647 shares of the company’s stock, valued at approximately $28,000.

Several other large investors have also made changes to their positions in the business. Ausdal Financial Partners Inc. acquired a new stake in Warner Bros. Discovery in the 4th quarter worth $115,000. Aire Advisors LLC lifted its stake in shares of Warner Bros. Discovery by 68.9% in the fourth quarter. Aire Advisors LLC now owns 97,390 shares of the company’s stock valued at $1,029,000 after buying an additional 39,712 shares during the period. Prestige Wealth Management Group LLC grew its position in Warner Bros. Discovery by 9.0% during the fourth quarter. Prestige Wealth Management Group LLC now owns 50,360 shares of the company’s stock worth $532,000 after buying an additional 4,154 shares in the last quarter. Prudential Financial Inc. increased its stake in Warner Bros. Discovery by 30.3% during the fourth quarter. Prudential Financial Inc. now owns 3,297,747 shares of the company’s stock valued at $34,857,000 after acquiring an additional 766,504 shares during the period. Finally, Corebridge Financial Inc. lifted its position in shares of Warner Bros. Discovery by 4.6% in the 4th quarter. Corebridge Financial Inc. now owns 828,015 shares of the company’s stock worth $8,752,000 after acquiring an additional 36,721 shares during the period. Institutional investors and hedge funds own 59.95% of the company’s stock.

Insiders Place Their Bets

In other news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was purchased at an average cost of $11.41 per share, with a total value of $197,917.86. Following the acquisition, the director now owns 159,932 shares of the company’s stock, valued at $1,824,824.12. This trade represents a 12.17 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.80% of the company’s stock.

Warner Bros. Discovery Stock Performance

Warner Bros. Discovery stock opened at $11.03 on Thursday. Warner Bros. Discovery, Inc. has a 12-month low of $6.64 and a 12-month high of $12.70. The stock has a 50-day simple moving average of $10.47 and a 200 day simple moving average of $9.66. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $27.08 billion, a price-to-earnings ratio of -2.41, a P/E/G ratio of 8.64 and a beta of 1.48.

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

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on WBD shares. KeyCorp boosted their price objective on Warner Bros. Discovery from $11.00 to $14.00 and gave the company an “overweight” rating in a research report on Tuesday, December 10th. Bank of America reissued a “buy” rating and issued a $14.00 price target on shares of Warner Bros. Discovery in a report on Thursday, December 12th. Moffett Nathanson raised shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $9.00 to $13.00 in a report on Tuesday, January 21st. Rosenblatt Securities reissued a “neutral” rating and issued a $13.00 target price on shares of Warner Bros. Discovery in a research note on Friday, March 7th. Finally, The Goldman Sachs Group raised their price target on shares of Warner Bros. Discovery from $9.50 to $10.75 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Ten 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, Warner Bros. Discovery presently has an average rating of “Moderate Buy” and a consensus price target of $11.91.

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.