Independent Advisor Alliance Buys 2,424 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Independent Advisor Alliance raised its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 15.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,302 shares of the company’s stock after purchasing an additional 2,424 shares during the period. Independent Advisor Alliance’s holdings in Warner Bros. Discovery were worth $193,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp lifted its holdings in shares of Warner Bros. Discovery by 4.1% in the 3rd quarter. State Street Corp now owns 151,285,963 shares of the company’s stock worth $1,248,109,000 after purchasing an additional 5,898,611 shares in the last quarter. Sessa Capital IM L.P. grew its holdings in shares of 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 buying an additional 5,625,545 shares during the last quarter. EdgePoint Investment Group Inc. increased its position in shares of 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 worth $176,523,000 after acquiring an additional 541,192 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its holdings in shares of Warner Bros. Discovery by 1.6% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 20,889,437 shares of the company’s stock worth $172,338,000 after acquiring an additional 329,620 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Warner Bros. Discovery by 5.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 16,547,162 shares of the company’s stock valued at $174,904,000 after acquiring an additional 861,656 shares in the last quarter. Institutional investors and hedge funds own 59.95% of the company’s stock.

Insider Activity at Warner Bros. Discovery

In related news, Director Piazza Samuel A. Jr. Di bought 17,346 shares of Warner Bros. Discovery stock in a transaction on 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 acquisition, the director now directly owns 159,932 shares of the company’s stock, valued at $1,824,824.12. This represents a 12.17 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

WBD has been the subject of a number of recent research reports. Moffett Nathanson raised Warner Bros. Discovery from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $9.00 to $13.00 in a report on Tuesday, January 21st. Barclays upped their price target on Warner Bros. Discovery from $10.00 to $12.00 and gave the stock an “equal weight” rating in a report on Friday, February 28th. JPMorgan Chase & Co. raised their price objective on Warner Bros. Discovery from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Guggenheim increased their target price on shares of Warner Bros. Discovery from $11.00 to $12.50 and gave the company a “buy” rating in a report on Thursday, December 12th. Finally, Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a report on Friday, February 28th. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $11.91.

Warner Bros. Discovery Stock Down 2.5 %

WBD stock opened at $10.65 on Friday. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.64 and a fifty-two week high of $12.70. The stock has a fifty day moving average of $10.38 and a 200-day moving average of $9.54. The company has a market capitalization of $26.14 billion, a price-to-earnings ratio of -2.33, a PEG ratio of 8.64 and a beta of 1.48. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current 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 return on equity of 27.56% and a negative net margin of 28.34%. The business had revenue of $10.03 billion during the quarter, compared to analysts’ expectations of $10.16 billion. As a group, equities research analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share 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.