Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Bought by Ancora Advisors LLC

Ancora Advisors LLC raised its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 4,302.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 194,626 shares of the company's stock after acquiring an additional 190,205 shares during the period. Ancora Advisors LLC's holdings in Warner Bros. Discovery were worth $2,057,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Principal Financial Group Inc. increased its position in Warner Bros. Discovery by 3.1% during the third quarter. Principal Financial Group Inc. now owns 2,579,571 shares of the company's stock worth $21,281,000 after purchasing an additional 78,653 shares during the last quarter. Coronation Fund Managers Ltd. raised its position in shares of Warner Bros. Discovery by 54.1% during the 4th quarter. Coronation Fund Managers Ltd. now owns 5,644,290 shares of the company's stock valued at $59,660,000 after buying an additional 1,981,050 shares during the period. Prudential PLC lifted its holdings in Warner Bros. Discovery by 31.1% in the fourth quarter. Prudential PLC now owns 135,163 shares of the company's stock valued at $1,429,000 after acquiring an additional 32,102 shares during the last quarter. SVB Wealth LLC acquired a new stake in Warner Bros. Discovery during the fourth quarter worth $168,000. Finally, Natixis Advisors LLC raised its position in Warner Bros. Discovery by 3.6% in the fourth quarter. Natixis Advisors LLC now owns 291,006 shares of the company's stock valued at $3,076,000 after purchasing an additional 10,024 shares during the period. 59.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on WBD shares. Barclays increased their price target on Warner Bros. Discovery from $7.00 to $9.00 and gave the stock an "equal weight" rating in a report on Friday. Barrington Research reissued an "outperform" rating and issued a $16.00 price target on shares of Warner Bros. Discovery in a research note on Wednesday, March 5th. Raymond James lowered their price objective on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an "outperform" rating for the company in a research report on Friday, April 4th. Wells Fargo & Company boosted their target price on Warner Bros. Discovery from $9.00 to $10.00 and gave the company an "equal weight" rating in a research report on Friday. Finally, Moffett Nathanson upgraded Warner Bros. Discovery from a "neutral" rating to a "buy" rating and raised their price target for the stock from $9.00 to $13.00 in a research report on Tuesday, January 21st. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $12.22.

Warner Bros. Discovery Stock Performance

WBD traded up $0.03 during trading on Friday, hitting $9.04. 29,995,614 shares of the stock were exchanged, compared to its average volume of 33,094,526. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. Warner Bros. Discovery, Inc. has a 1-year low of $6.64 and a 1-year high of $12.70. The stock has a fifty day moving average price of $9.35 and a two-hundred day moving average price of $9.84. The firm has a market capitalization of $22.19 billion, a P/E ratio of -1.97, a PEG ratio of 8.64 and a beta of 1.46.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued its quarterly earnings results 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 for the quarter, compared to analyst estimates of $9.66 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The firm's revenue for the quarter was down 9.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.40) EPS. As a group, sell-side analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Insider Activity at Warner Bros. Discovery

In other news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were purchased at an average cost of $11.41 per share, for a total transaction of $197,917.86. Following the transaction, 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 position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 1.80% of the stock is currently owned by insiders.

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.