Prospera Financial Services Inc Has $13.02 Million Stock Position in Warner Bros. Discovery, Inc. $WBD

Key Points

• Prospera Financial Services increased its stake in Warner Bros. Discovery by 59.9% in the fourth quarter, ending with 451,631 shares valued at about $13.0 million.
• Warner Bros. Discovery’s latest quarterly results missed earnings expectations, reporting -$1.17 EPS versus the expected -$0.10, while revenue came in at $8.89 billion and matched estimates.
• Sentiment around the stock remains mixed: insiders have sold a large amount of shares in recent months, while analysts currently rate WBD as a Hold on average with a consensus price target of $26.36.

Prospera Financial Services Inc lifted its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 59.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 451,631 shares of the company's stock after purchasing an additional 169,229 shares during the quarter. Prospera Financial Services Inc's holdings in Warner Bros. Discovery were worth $13,016,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC boosted its position in Warner Bros. Discovery by 304.9% during the 4th quarter. Brighton Jones LLC now owns 68,950 shares of the company's stock worth $729,000 after acquiring an additional 51,920 shares during the period. NewEdge Advisors LLC boosted its position in Warner Bros. Discovery by 50.5% during the 1st quarter. NewEdge Advisors LLC now owns 63,254 shares of the company's stock worth $679,000 after acquiring an additional 21,228 shares during the period. Empowered Funds LLC boosted its position in Warner Bros. Discovery by 6.2% during the 1st quarter. Empowered Funds LLC now owns 65,082 shares of the company's stock worth $698,000 after acquiring an additional 3,779 shares during the period. Focus Partners Wealth boosted its position in Warner Bros. Discovery by 91.6% during the 1st quarter. Focus Partners Wealth now owns 116,821 shares of the company's stock worth $1,254,000 after acquiring an additional 55,837 shares during the period. Finally, Baird Financial Group Inc. boosted its position in Warner Bros. Discovery by 3.8% during the 2nd quarter. Baird Financial Group Inc. now owns 111,450 shares of the company's stock worth $1,277,000 after acquiring an additional 4,062 shares during the period. Institutional investors and hedge funds own 59.95% of the company's stock.

Warner Bros. Discovery Stock Down 0.3%

WBD opened at $27.03 on Friday. Warner Bros. Discovery, Inc. has a fifty-two week low of $8.84 and a fifty-two week high of $30.00. The business has a 50-day moving average of $27.26 and a 200-day moving average of $27.10. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.73 and a quick ratio of 0.73. The company has a market capitalization of $67.77 billion, a PE ratio of -38.61 and a beta of 1.57.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($1.17) earnings per share for the quarter, missing analysts' consensus estimates of ($0.10) by ($1.07). Warner Bros. Discovery had a negative return on equity of 4.77% and a negative net margin of 4.67%.The firm had revenue of $8.89 billion for the quarter, compared to analysts' expectations of $8.89 billion. During the same period last year, the business earned ($0.18) earnings per share. The firm's revenue for the quarter was down 1.0% on a year-over-year basis. Equities research analysts forecast that Warner Bros. Discovery, Inc. will post -0.71 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Gunnar Wiedenfels sold 617,580 shares of the firm's stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $28.25, for a total value of $17,446,635.00. Following the transaction, the chief financial officer directly owned 691,570 shares of the company's stock, valued at approximately $19,536,852.50. This trade represents a 47.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bruce Campbell sold 1,580,331 shares of the firm's stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $28.00, for a total value of $44,249,268.00. Following the completion of the transaction, the insider directly owned 690,028 shares in the company, valued at $19,320,784. The trade was a 69.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 8,206,827 shares of company stock worth $230,674,025 in the last three months. 1.90% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on WBD shares. Arete Research restated a "neutral" rating and set a $31.25 price objective on shares of Warner Bros. Discovery in a research report on Friday, February 27th. Argus decreased their price objective on Warner Bros. Discovery from $32.00 to $31.00 and set a "buy" rating for the company in a research report on Tuesday, March 3rd. KeyCorp restated an "overweight" rating on shares of Warner Bros. Discovery in a research report on Friday, April 24th. Rothschild & Co Redburn set a $31.00 price objective on Warner Bros. Discovery and gave the stock a "neutral" rating in a research report on Tuesday, February 17th. Finally, Weiss Ratings lowered Warner Bros. Discovery from a "hold (c-)" rating to a "sell (d-)" rating in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, thirteen have issued a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $26.36.

About Warner Bros. Discovery

Warner Bros. Discovery NASDAQ: WBD is a global media and entertainment company formed when WarnerMedia and Discovery, Inc combined their businesses in 2022. Headquartered in New York City, the company assembles a broad portfolio of film and television production, linear and cable networks, streaming services and consumer distribution operations. Its assets span well-known studio brands, premium scripted and unscripted programming, news and factual entertainment, and licensed franchise properties.

The company's core activities include film and television production and distribution through units such as Warner Bros.

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