Douglas Lane & Associates LLC Boosts Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Douglas Lane & Associates LLC grew its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 13.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,726,841 shares of the company’s stock after purchasing an additional 211,272 shares during the period. Douglas Lane & Associates LLC’s holdings in Warner Bros. Discovery were worth $18,253,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in WBD. Larson Financial Group LLC increased its stake in Warner Bros. Discovery by 54.1% during the 3rd quarter. Larson Financial Group LLC now owns 4,998 shares of the company’s stock worth $41,000 after buying an additional 1,754 shares during the period. Future Financial Wealth Managment LLC bought a new stake in shares of Warner Bros. Discovery in the third quarter worth $41,000. Brooklyn Investment Group acquired a new stake in shares of Warner Bros. Discovery in the 3rd quarter valued at about $51,000. Quarry LP raised its stake in Warner Bros. Discovery by 2,185.1% during the second quarter. Quarry LP now owns 6,307 shares of the company’s stock valued at $47,000 after buying an additional 6,031 shares in the last quarter. Finally, Cromwell Holdings LLC acquired a new stake in shares of Warner Bros. Discovery during the 3rd quarter valued at approximately $61,000. Institutional investors and hedge funds own 59.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on WBD. The Goldman Sachs Group boosted their price objective on shares of Warner Bros. Discovery from $9.50 to $10.75 and gave the company a “neutral” rating in a research report on Thursday, December 19th. Wolfe Research upgraded Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research report on Monday, November 11th. KeyCorp raised their price target on Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a research note on Thursday, October 10th. Finally, Guggenheim raised their target price on Warner Bros. Discovery from $11.00 to $12.50 and gave the company a “buy” rating in a research note on Thursday, December 12th. Twelve investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $11.44.

Insiders Place Their Bets

In other Warner Bros. Discovery news, insider Savalle Sims sold 169,436 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $12.36, for a total transaction of $2,094,228.96. Following the completion of the sale, the insider now directly owns 599,317 shares in the company, valued at approximately $7,407,558.12. This trade represents a 22.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.80% of the company’s stock.

Warner Bros. Discovery Price Performance

Shares of WBD traded down $0.39 during trading hours on Wednesday, hitting $10.12. 23,096,331 shares of the company were exchanged, compared to its average volume of 25,823,717. Warner Bros. Discovery, Inc. has a one year low of $6.64 and a one year high of $12.70. The company has a market capitalization of $24.83 billion, a PE ratio of -2.21 and a beta of 1.50. 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 fifty day simple moving average of $10.15 and a 200-day simple moving average of $8.60.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.12. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The firm had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.79 billion. During the same quarter in the previous year, the company earned ($0.17) EPS. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. As a group, sell-side analysts predict that Warner Bros. Discovery, Inc. will post -4.37 earnings per share for the current year.

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.