Axa S.A. Increases Stock Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

AXA S.A. increased its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 78.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 387,712 shares of the company's stock after buying an additional 169,924 shares during the period. AXA S.A.'s holdings in Warner Bros. Discovery were worth $4,098,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in WBD. Colonial Trust Advisors boosted its holdings in shares of Warner Bros. Discovery by 71.8% in 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 in the last quarter. Stonebridge Financial Group LLC bought a new stake in Warner Bros. Discovery in the fourth quarter worth approximately $26,000. SRS Capital Advisors Inc. grew its holdings in Warner Bros. Discovery by 313.4% in the fourth 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 acquired a new position in Warner Bros. Discovery during the 4th quarter worth approximately $28,000. Finally, Ethos Financial Group LLC acquired a new stake in Warner Bros. Discovery in the 4th quarter valued at $29,000. 59.95% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Barclays lifted their target price on shares of Warner Bros. Discovery from $7.00 to $9.00 and gave the stock an "equal weight" rating in a research report on Friday. KeyCorp reduced their price target on Warner Bros. Discovery from $14.00 to $13.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Benchmark reissued a "buy" rating and issued a $18.00 price target on shares of Warner Bros. Discovery in a report on Wednesday, February 26th. Raymond James lowered their target price on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an "outperform" rating on the stock in a research note on Friday, April 4th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Warner Bros. Discovery in a report on Friday, February 28th. Ten investment 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.com, the company presently has an average rating of "Moderate Buy" and an average price target of $12.22.

Insider Transactions at Warner Bros. Discovery

In other Warner Bros. Discovery news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of the company's stock in a transaction on Monday, March 3rd. The shares were bought at an average cost of $11.41 per share, for a total transaction of $197,917.86. Following the completion of the purchase, the director now owns 159,932 shares in the company, valued at $1,824,824.12. This trade represents a 12.17 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 1.90% of the company's stock.

Warner Bros. Discovery Trading Up 0.3 %

Shares of Warner Bros. Discovery stock traded up $0.03 during mid-day trading on Friday, hitting $9.04. The stock had a trading volume of 29,995,614 shares, compared to its average volume of 33,094,526. The firm has a market cap of $22.19 billion, a P/E ratio of -1.97, a price-to-earnings-growth ratio of 8.64 and a beta of 1.46. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. The firm has a 50-day moving average of $9.35 and a two-hundred day moving average of $9.84. Warner Bros. Discovery, Inc. has a 12-month low of $6.64 and a 12-month high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.06). Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The company had revenue of $8.98 billion during the quarter, compared to analyst estimates of $9.66 billion. During the same quarter last year, the business posted ($0.40) EPS. The firm's revenue for the quarter was down 9.8% on a year-over-year basis. Sell-side analysts forecast 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.