New Wave Wealth Advisors LLC Acquires New Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

New Wave Wealth Advisors LLC bought a new stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,537 shares of the company’s stock, valued at approximately $37,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Sugar Maple Asset Management LLC bought a new position in Warner Bros. Discovery in the 4th quarter worth $33,000. Future Financial Wealth Managment LLC purchased a new stake in Warner Bros. Discovery in the third quarter worth about $41,000. Larson Financial Group LLC raised its stake in shares of Warner Bros. Discovery by 54.1% in the third 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. Quarry LP lifted its position in shares of Warner Bros. Discovery by 2,185.1% during the 2nd 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, Rosenberg Matthew Hamilton grew its stake in shares of Warner Bros. Discovery by 448.3% during the 4th quarter. Rosenberg Matthew Hamilton now owns 4,578 shares of the company’s stock valued at $48,000 after acquiring an additional 3,743 shares during the period. 59.95% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Savalle Sims sold 169,436 shares of the stock in a transaction on 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 sale, the insider now owns 599,317 shares in the company, valued at approximately $7,407,558.12. This represents a 22.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on WBD. The Goldman Sachs Group raised their target price on shares of Warner Bros. Discovery from $9.50 to $10.75 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. KeyCorp raised their price objective on shares of Warner Bros. Discovery from $11.00 to $14.00 and gave the company an “overweight” rating in a research report on Tuesday, December 10th. Macquarie upped their target price on shares of Warner Bros. Discovery from $8.00 to $9.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. JPMorgan Chase & Co. increased their price target on Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 14th. Finally, Wolfe Research upgraded Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research report on Monday, November 11th. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.76.

Warner Bros. Discovery Trading Down 1.7 %

WBD stock opened at $10.44 on Friday. The firm has a fifty day moving average price of $10.47 and a 200 day moving average price of $8.92. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.64 and a fifty-two week high of $12.70. The firm has a market cap of $25.61 billion, a PE ratio of -2.28, a price-to-earnings-growth ratio of 6.36 and a beta of 1.50. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.12. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The business had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.79 billion. During the same period last year, the company posted ($0.17) EPS. The business’s revenue was down 3.6% on a year-over-year basis. Sell-side analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal 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.