Ameriprise Financial Inc. Purchases 43,682 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Ameriprise Financial Inc. increased its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 4.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,140,842 shares of the company’s stock after purchasing an additional 43,682 shares during the quarter. Ameriprise Financial Inc.’s holdings in Warner Bros. Discovery were worth $12,061,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Colonial Trust Advisors lifted its stake in Warner Bros. Discovery by 71.8% during the fourth quarter. Colonial Trust Advisors now owns 2,383 shares of the company’s stock worth $25,000 after purchasing an additional 996 shares during the last quarter. Stonebridge Financial Group LLC bought a new position in Warner Bros. Discovery in the 4th quarter valued at approximately $26,000. SRS Capital Advisors Inc. lifted its holdings 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 during the period. Graney & King LLC acquired a new position in shares of Warner Bros. Discovery in the fourth quarter worth approximately $28,000. Finally, Ethos Financial Group LLC bought a new stake in shares of Warner Bros. Discovery in the 4th quarter valued at $29,000. 59.95% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on WBD shares. Barrington Research reissued an “outperform” rating and issued a $16.00 price objective on shares of Warner Bros. Discovery in a research note on Tuesday, May 13th. Rosenblatt Securities restated a “neutral” rating and issued a $13.00 price objective on shares of Warner Bros. Discovery in a research note on Friday, March 7th. Wells Fargo & Company lifted their price target 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. Citigroup lifted their target price on shares of Warner Bros. Discovery from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. Finally, KeyCorp dropped their price objective on Warner Bros. Discovery from $14.00 to $13.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Warner Bros. Discovery presently has an average rating of “Moderate Buy” and a consensus price target of $12.22.

Insider Buying and Selling at Warner Bros. Discovery

In other Warner Bros. Discovery news, Director Piazza Samuel A. Jr. Di bought 17,346 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were purchased at an average price of $11.41 per share, with a total value of $197,917.86. Following the completion of 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 position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.90% of the company’s stock.

Warner Bros. Discovery Stock Performance

NASDAQ WBD opened at $9.16 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 debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a market capitalization of $22.49 billion, a P/E ratio of -2.00, a PEG ratio of 8.64 and a beta of 1.46. The stock has a 50-day simple moving average of $9.18 and a two-hundred day simple moving average of $9.91.

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

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.