Oppenheimer & Co. Inc. Purchases 53,909 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Oppenheimer & Co. Inc. lifted its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 15.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 409,018 shares of the company's stock after acquiring an additional 53,909 shares during the period. Oppenheimer & Co. Inc.'s holdings in Warner Bros. Discovery were worth $4,442,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Boston Partners grew its position in Warner Bros. Discovery by 43.0% during the 3rd quarter. Boston Partners now owns 14,225,819 shares of the company's stock worth $153,713,000 after acquiring an additional 4,275,994 shares during the last quarter. Pinnacle Wealth Planning Services Inc. bought a new position in Warner Bros. Discovery during the 3rd quarter worth approximately $134,000. Kestra Private Wealth Services LLC grew its position in Warner Bros. Discovery by 5.8% during the 3rd quarter. Kestra Private Wealth Services LLC now owns 36,010 shares of the company's stock worth $391,000 after acquiring an additional 1,969 shares during the last quarter. Harbor Island Capital LLC grew its position in Warner Bros. Discovery by 27.1% during the 3rd quarter. Harbor Island Capital LLC now owns 681,213 shares of the company's stock worth $7,398,000 after acquiring an additional 145,275 shares during the last quarter. Finally, CM Management LLC grew its position in Warner Bros. Discovery by 33.3% during the 3rd quarter. CM Management LLC now owns 80,000 shares of the company's stock worth $869,000 after acquiring an additional 20,000 shares during the last quarter. 58.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Warner Bros. Discovery

In other Warner Bros. Discovery news, Director Programming P. Advance/Newhouse sold 10,000,000 shares of Warner Bros. Discovery stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $12.49, for a total transaction of $124,900,000.00. Following the completion of the transaction, the director now owns 184,023,290 shares in the company, valued at $2,298,450,892.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.60% of the stock is owned by company insiders.

Warner Bros. Discovery Trading Down 2.0 %

WBD opened at $10.25 on Friday. The business has a 50 day moving average of $11.04 and a 200-day moving average of $11.37. Warner Bros. Discovery, Inc. has a 52 week low of $9.27 and a 52 week high of $16.34. 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:WBD - Get Free Report) last announced its quarterly earnings data on Wednesday, November 8th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.16). The company had revenue of $9.98 billion for the quarter, compared to analysts' expectations of $9.97 billion. Warner Bros. Discovery had a negative net margin of 11.48% and a negative return on equity of 0.47%. The firm's quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.17 EPS. As a group, research analysts predict that Warner Bros. Discovery, Inc. will post -1.19 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Benchmark restated a "buy" rating and set a $24.00 price target on shares of Warner Bros. Discovery in a research report on Friday, December 22nd. Raymond James cut their price objective on Warner Bros. Discovery from $18.00 to $17.00 and set an "outperform" rating on the stock in a research report on Thursday, November 9th. The Goldman Sachs Group cut their price objective on Warner Bros. Discovery from $17.00 to $15.00 and set a "buy" rating on the stock in a research report on Thursday, November 9th. Barclays cut their price objective on Warner Bros. Discovery from $15.00 to $13.00 and set an "equal weight" rating on the stock in a research report on Monday, October 9th. Finally, Morgan Stanley cut their price objective on Warner Bros. Discovery from $15.00 to $14.00 and set an "equal weight" rating on the stock in a research report on Tuesday, November 7th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $15.75.

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 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.

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