Aire Advisors LLC Purchases 39,712 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Aire Advisors LLC raised its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 68.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 97,390 shares of the company’s stock after buying an additional 39,712 shares during the quarter. Aire Advisors LLC’s holdings in Warner Bros. Discovery were worth $1,029,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Prestige Wealth Management Group LLC raised its holdings in shares of Warner Bros. Discovery by 9.0% in the 4th quarter. Prestige Wealth Management Group LLC now owns 50,360 shares of the company’s stock worth $532,000 after buying an additional 4,154 shares in the last quarter. Prudential Financial Inc. lifted its holdings in shares of Warner Bros. Discovery by 30.3% during the fourth quarter. Prudential Financial Inc. now owns 3,297,747 shares of the company’s stock valued at $34,857,000 after acquiring an additional 766,504 shares during the period. Corebridge Financial Inc. boosted its stake in shares of Warner Bros. Discovery by 4.6% in the 4th quarter. Corebridge Financial Inc. now owns 828,015 shares of the company’s stock valued at $8,752,000 after purchasing an additional 36,721 shares in the last quarter. Congress Wealth Management LLC DE bought a new stake in shares of Warner Bros. Discovery in the 4th quarter worth about $114,000. Finally, Vanguard Group Inc. increased its position in shares of Warner Bros. Discovery by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 252,650,791 shares of the company’s stock worth $2,670,519,000 after purchasing an additional 1,658,415 shares in the last quarter. Institutional investors and hedge funds own 59.95% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Moffett Nathanson raised shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $9.00 to $13.00 in a research note on Tuesday, January 21st. The Goldman Sachs Group lifted their price objective on Warner Bros. Discovery from $9.50 to $10.75 and gave the company a “neutral” rating in a research report on Thursday, December 19th. Benchmark restated a “buy” rating and set a $18.00 target price on shares of Warner Bros. Discovery in a report on Wednesday, February 26th. Rosenblatt Securities reiterated a “neutral” rating and set a $13.00 price target on shares of Warner Bros. Discovery in a research report on Friday, March 7th. Finally, Barrington Research restated an “outperform” rating and issued a $16.00 price objective on shares of Warner Bros. Discovery in a research report on Wednesday, March 5th. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $11.91.

Warner Bros. Discovery Price Performance

WBD opened at $10.97 on Tuesday. The stock has a market cap of $26.93 billion, a P/E ratio of -2.40, a P/E/G ratio of 8.64 and a beta of 1.48. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. The company has a fifty day simple moving average of $10.42 and a 200 day simple moving average of $9.62.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.30). The business had revenue of $10.03 billion during the quarter, compared to the consensus estimate of $10.16 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. On average, research analysts expect that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Insider Transactions at Warner Bros. Discovery

In other Warner Bros. Discovery news, Director Piazza Samuel A. Jr. Di bought 17,346 shares of Warner Bros. Discovery stock in a transaction that occurred on Monday, March 3rd. The stock was acquired at an average price of $11.41 per share, for a total transaction of $197,917.86. Following the completion of the acquisition, the director now owns 159,932 shares of the company’s stock, valued at $1,824,824.12. This trade represents a 12.17 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.80% of the stock is owned by insiders.

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.