Ameriprise Financial Inc. Grows Stock Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Ameriprise Financial Inc. lifted its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 4.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,140,842 shares of the company's stock after acquiring 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 Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of WBD. Golden State Equity Partners raised its holdings in shares of Warner Bros. Discovery by 6.5% in the 4th quarter. Golden State Equity Partners now owns 16,124 shares of the company's stock valued at $170,000 after purchasing an additional 986 shares in the last quarter. Colonial Trust Advisors increased its holdings in Warner Bros. Discovery by 71.8% in the fourth quarter. Colonial Trust Advisors now owns 2,383 shares of the company's stock valued at $25,000 after buying an additional 996 shares during the last quarter. Deseret Mutual Benefit Administrators raised its stake in Warner Bros. Discovery by 12.0% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 9,925 shares of the company's stock valued at $105,000 after buying an additional 1,066 shares in the last quarter. Cornerstone Wealth Management LLC lifted its holdings in Warner Bros. Discovery by 7.4% during the 4th quarter. Cornerstone Wealth Management LLC now owns 15,995 shares of the company's stock worth $169,000 after buying an additional 1,101 shares during the last quarter. Finally, Personal CFO Solutions LLC boosted its position in shares of Warner Bros. Discovery by 2.8% during the 4th quarter. Personal CFO Solutions LLC now owns 42,935 shares of the company's stock worth $454,000 after acquiring an additional 1,174 shares in the last quarter. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Warner Bros. Discovery

In related news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of Warner Bros. Discovery stock in a transaction that occurred on Monday, March 3rd. The stock was purchased at an average price of $11.41 per share, for a total transaction of $197,917.86. Following the completion of the purchase, the director now directly owns 159,932 shares of the company's stock, valued at approximately $1,824,824.12. This trade represents a 12.17% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.80% of the company's stock.

Warner Bros. Discovery Stock Performance

WBD traded up $0.07 during trading on Thursday, hitting $9.02. The stock had a trading volume of 28,774,588 shares, compared to its average volume of 33,329,630. The firm has a market capitalization of $22.14 billion, a P/E ratio of -1.97, a PEG ratio of 8.64 and a beta of 1.46. 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, Inc. has a twelve month low of $6.64 and a twelve month high of $12.70. The company's 50-day moving average price is $9.12 and its 200 day moving average price is $9.90.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.18) earnings per share 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 analysts' expectations 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 revenue for the quarter was down 9.8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.40) EPS. On average, equities research analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Morgan Stanley lowered their target price on shares of Warner Bros. Discovery from $12.00 to $10.00 and set an "equal weight" rating for the company in a report on Tuesday, May 6th. 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. Benchmark reaffirmed a "buy" rating and set a $18.00 price objective on shares of Warner Bros. Discovery in a report on Wednesday, February 26th. Raymond James reduced their target price on Warner Bros. Discovery from $14.00 to $13.00 and set an "outperform" rating for the company in a report on Friday, April 4th. Finally, Barclays raised their price target on Warner Bros. Discovery from $7.00 to $9.00 and gave the stock an "equal weight" rating in a research note on Friday, May 9th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $12.22.

Warner Bros. Discovery 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.