Alliancebernstein L.P. Purchases 16,596 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Alliancebernstein L.P. grew its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 0.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,727,817 shares of the company’s stock after buying an additional 16,596 shares during the quarter. Alliancebernstein L.P.’s holdings in Warner Bros. Discovery were worth $28,833,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of WBD. Stonebridge Financial Group LLC bought a new position in Warner Bros. Discovery in the 4th quarter valued at $26,000. SRS Capital Advisors Inc. boosted 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 valued at $27,000 after purchasing an additional 1,940 shares during the period. Graney & King LLC bought a new position in shares of Warner Bros. Discovery in the fourth quarter worth about $28,000. Ethos Financial Group LLC purchased a new position in Warner Bros. Discovery in the 4th quarter worth about $29,000. Finally, Briaud Financial Planning Inc lifted its holdings in Warner Bros. Discovery by 258.1% during the 4th quarter. Briaud Financial Planning Inc now owns 2,775 shares of the company’s stock valued at $29,000 after buying an additional 2,000 shares in the last quarter. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Warner Bros. Discovery

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

Warner Bros. Discovery Price Performance

Shares of NASDAQ WBD opened at $8.07 on Monday. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.64 and a fifty-two week high of $12.70. The company has a market cap of $19.81 billion, a PE ratio of -1.76, a P/E/G ratio of 8.64 and a beta of 1.43. 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 business has a 50-day simple moving average of $10.50 and a two-hundred day simple moving average of $9.77.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of $0.10 by ($0.30). The company had revenue of $10.03 billion during the quarter, compared to analysts’ expectations 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, equities analysts expect that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on WBD shares. Guggenheim raised their target price on shares of Warner Bros. Discovery from $11.00 to $12.50 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Bank of America reaffirmed a “buy” rating and set a $14.00 target price on shares of Warner Bros. Discovery in a research report on Thursday, December 12th. The Goldman Sachs Group upped their price objective 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. Citigroup raised their target price on shares of Warner Bros. Discovery from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. Finally, Moffett Nathanson upgraded shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and increased their price objective for the company from $9.00 to $13.00 in a research note on Tuesday, January 21st. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.96.

About Warner Bros. Discovery

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.