First Command Advisory Services Inc. Acquires New Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

First Command Advisory Services Inc. acquired a new stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBDFree Report) in the third quarter, Holdings Channel reports. The firm acquired 3,845 shares of the company’s stock, valued at approximately $42,000.

A number of other large investors have also added to or reduced their stakes in WBD. Moneta Group Investment Advisors LLC raised its stake in shares of Warner Bros. Discovery by 124,559.2% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 28,075,738 shares of the company’s stock worth $266,158,000 after purchasing an additional 28,053,216 shares during the last quarter. Norges Bank bought a new stake in Warner Bros. Discovery during the fourth quarter valued at about $196,222,000. The Manufacturers Life Insurance Company increased its position in Warner Bros. Discovery by 1,151.3% in the second quarter. The Manufacturers Life Insurance Company now owns 19,467,210 shares of the company’s stock worth $244,119,000 after buying an additional 17,911,476 shares in the last quarter. Boston Partners purchased a new stake in Warner Bros. Discovery in the second quarter worth about $125,599,000. Finally, State Street Corp grew its position in shares of Warner Bros. Discovery by 7.7% during the second quarter. State Street Corp now owns 118,339,932 shares of the company’s stock worth $1,483,983,000 after purchasing an additional 8,495,066 shares in the last quarter. Hedge funds and other institutional investors own 58.26% of the company’s stock.

Wall Street Analyst Weigh In

WBD has been the subject of several research analyst reports. Barclays cut their target price on Warner Bros. Discovery from $15.00 to $13.00 and set an “equal weight” rating for the company in a research report on Monday, October 9th. Macquarie lowered their price objective on Warner Bros. Discovery from $16.00 to $14.00 and set an “outperform” rating for the company in a research note on Monday, January 22nd. Morgan Stanley lowered their price objective on Warner Bros. Discovery from $15.00 to $14.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 7th. Raymond James lowered their price objective on Warner Bros. Discovery from $18.00 to $17.00 and set an “outperform” rating for the company in a research note on Thursday, November 9th. Finally, Wells Fargo & Company lowered Warner Bros. Discovery from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $16.00 to $12.00 in a research note on Monday, January 29th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $15.75.

Get Our Latest Report on Warner Bros. Discovery

Insiders Place Their Bets

In other news, Director Programming P. Advance/Newhouse sold 10,000,000 shares of the business’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $12.49, for a total value of $124,900,000.00. Following the completion of the transaction, the director now owns 184,023,290 shares of the company’s stock, valued at approximately $2,298,450,892.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.60% of the stock is currently owned by insiders.

Warner Bros. Discovery Stock Down 1.8 %

Shares of WBD stock opened at $10.07 on Tuesday. Warner Bros. Discovery, Inc. has a 1-year low of $9.27 and a 1-year high of $16.34. The stock’s fifty day moving average price is $11.03 and its 200 day moving average price is $11.34. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.88 and a current ratio of 0.88.

Warner Bros. Discovery (NASDAQ:WBDGet Free Report) last announced its earnings results on Wednesday, November 8th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.16). Warner Bros. Discovery had a negative return on equity of 0.47% and a negative net margin of 11.48%. The business had revenue of $9.98 billion for the quarter, compared to analysts’ expectations of $9.97 billion. During the same quarter last year, the firm earned $0.17 earnings per share. The firm’s quarterly revenue was up 1.6% compared to the same quarter last year. Sell-side analysts anticipate that Warner Bros. Discovery, Inc. will post -1.19 EPS for the current fiscal year.

About Warner Bros. Discovery

(Free Report)

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 third parties and networks 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.

See Also

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Institutional Ownership by Quarter for Warner Bros. Discovery (NASDAQ:WBD)

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