Nuveen Asset Management LLC Acquires 2,946,688 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Nuveen Asset Management LLC lifted its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 33.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,799,864 shares of the company's stock after buying an additional 2,946,688 shares during the period. Nuveen Asset Management LLC owned about 0.48% of Warner Bros. Discovery worth $124,725,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in WBD. Colonial Trust Advisors grew its holdings in Warner Bros. Discovery by 71.8% during the 4th quarter. Colonial Trust Advisors now owns 2,383 shares of the company's stock valued at $25,000 after purchasing an additional 996 shares during the last quarter. Stonebridge Financial Group LLC purchased a new stake in shares of Warner Bros. Discovery in the 4th quarter worth approximately $26,000. SRS Capital Advisors Inc. lifted its position in shares of Warner Bros. Discovery by 313.4% in the 4th quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company's stock worth $27,000 after purchasing an additional 1,940 shares during the period. Graney & King LLC purchased a new stake in shares of Warner Bros. Discovery in the 4th quarter worth approximately $28,000. Finally, Ethos Financial Group LLC bought a new position in shares of Warner Bros. Discovery during the 4th quarter worth approximately $29,000. 59.95% of the stock is currently owned by institutional investors.

Insider Activity

In other Warner Bros. Discovery news, Director Piazza Samuel A. Jr. Di bought 17,346 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were purchased at an average cost of $11.41 per share, with a total value of $197,917.86. Following the purchase, the director now directly owns 159,932 shares in the company, valued at approximately $1,824,824.12. This represents a 12.17% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on WBD shares. Needham & Company LLC reiterated a "hold" rating on shares of Warner Bros. Discovery in a research note on Friday, February 28th. KeyCorp cut their price objective on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Benchmark reiterated a "buy" rating and issued a $18.00 price objective on shares of Warner Bros. Discovery in a research note on Wednesday, February 26th. Raymond James lowered their price target on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an "outperform" rating on the stock in a report on Friday, April 4th. Finally, Barrington Research reissued an "outperform" rating and set a $16.00 price target on shares of Warner Bros. Discovery in a report on Tuesday. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $12.22.

Warner Bros. Discovery Price Performance

Shares of WBD stock opened at $9.16 on Friday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. The firm's 50-day moving average is $9.18 and its two-hundred day moving average is $9.88. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70. The company has a market capitalization of $22.49 billion, a PE ratio of -2.00, a price-to-earnings-growth ratio of 8.64 and a beta of 1.46.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.18) EPS for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.06). The firm had revenue of $8.98 billion for the quarter, compared to analysts' expectations of $9.66 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. Warner Bros. Discovery's revenue for the quarter was down 9.8% on a year-over-year basis. During the same period last year, the firm earned ($0.40) earnings per share. Analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current 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.

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