Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Purchased by Patriot Financial Group Insurance Agency LLC

Patriot Financial Group Insurance Agency LLC raised its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 11.2% during the 1st quarter, Holdings Channel reports. The institutional investor owned 23,467 shares of the company’s stock after buying an additional 2,370 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Warner Bros. Discovery were worth $252,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Wedmont Private Capital boosted its position in shares of Warner Bros. Discovery by 19.4% during the 1st quarter. Wedmont Private Capital now owns 27,355 shares of the company’s stock valued at $294,000 after purchasing an additional 4,446 shares in the last quarter. UMB Bank n.a. boosted its position in shares of Warner Bros. Discovery by 13.6% during the 1st quarter. UMB Bank n.a. now owns 22,139 shares of the company’s stock valued at $238,000 after purchasing an additional 2,653 shares in the last quarter. Gateway Investment Advisers LLC bought a new position in shares of Warner Bros. Discovery during the 1st quarter valued at about $3,845,000. Curat Global LLC bought a new position in shares of Warner Bros. Discovery during the 1st quarter valued at about $53,000. Finally, ACT Wealth Management LLC boosted its position in shares of Warner Bros. Discovery by 17.7% during the 1st quarter. ACT Wealth Management LLC now owns 48,523 shares of the company’s stock valued at $521,000 after purchasing an additional 7,300 shares in the last quarter. Institutional investors and hedge funds own 59.95% of the company’s stock.

Warner Bros. Discovery Price Performance

NASDAQ WBD opened at $10.01 on Wednesday. The company has a 50 day simple moving average of $8.86 and a 200-day simple moving average of $9.94. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a market capitalization of $24.57 billion, a price-to-earnings ratio of -2.19, a price-to-earnings-growth ratio of 8.64 and a beta of 1.51. Warner Bros. Discovery, Inc. has a 52-week low of $6.64 and a 52-week high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.06). The company had revenue of $8.98 billion during the quarter, compared to analysts’ expectations of $9.66 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. Warner Bros. Discovery’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same period last year, the company earned ($0.40) earnings per share. Equities research analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on WBD. Benchmark restated a “buy” rating and set a $18.00 price objective on shares of Warner Bros. Discovery in a research report on Wednesday, February 26th. Wells Fargo & Company raised their target price on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the stock an “equal weight” rating in a report on Friday, May 9th. Rosenblatt Securities reiterated a “neutral” rating and issued a $13.00 target price on shares of Warner Bros. Discovery in a report on Friday, March 7th. Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a report on Tuesday. Finally, Argus upgraded shares of Warner Bros. Discovery to a “hold” rating in a report on Tuesday, May 27th. Eleven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Warner Bros. Discovery currently has an average rating of “Moderate Buy” and a consensus price target of $12.17.

Warner Bros. Discovery Company 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.