Sequoia Financial Advisors LLC Raises Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Sequoia Financial Advisors LLC increased its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 9.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 61,378 shares of the company’s stock after acquiring an additional 5,251 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Warner Bros. Discovery were worth $649,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WBD. Golden State Equity Partners grew its stake in Warner Bros. Discovery by 6.5% in the 4th quarter. Golden State Equity Partners now owns 16,124 shares of the company’s stock worth $170,000 after acquiring an additional 986 shares in the last quarter. Deseret Mutual Benefit Administrators grew its stake in Warner Bros. Discovery by 12.0% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 9,925 shares of the company’s stock worth $105,000 after purchasing an additional 1,066 shares in the last quarter. Cornerstone Wealth Management LLC increased its holdings in Warner Bros. Discovery by 7.4% during the 4th quarter. Cornerstone Wealth Management LLC now owns 15,995 shares of the company’s stock worth $169,000 after purchasing an additional 1,101 shares during the period. Personal CFO Solutions LLC raised its position in Warner Bros. Discovery by 2.8% during the 4th quarter. Personal CFO Solutions LLC now owns 42,935 shares of the company’s stock valued at $454,000 after purchasing an additional 1,174 shares in the last quarter. Finally, Avestar Capital LLC lifted its holdings in shares of Warner Bros. Discovery by 9.4% in the 4th quarter. Avestar Capital LLC now owns 14,337 shares of the company’s stock worth $152,000 after buying an additional 1,228 shares during the period. Institutional investors own 59.95% of the company’s stock.

Insider Activity

In related news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was acquired at an average price of $11.41 per share, with a total value of $197,917.86. Following the acquisition, the director now directly owns 159,932 shares in the company, valued at $1,824,824.12. This represents a 12.17 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Benchmark restated a “buy” rating and set a $18.00 price target on shares of Warner Bros. Discovery in a research note on Wednesday, February 26th. The Goldman Sachs Group boosted their price target on shares of Warner Bros. Discovery from $9.50 to $10.75 and gave the company a “neutral” rating in a report on Thursday, December 19th. KeyCorp increased their price objective on shares of Warner Bros. Discovery from $11.00 to $14.00 and gave the company an “overweight” rating in a research note on Tuesday, December 10th. Moffett Nathanson raised shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $9.00 to $13.00 in a research note on Tuesday, January 21st. Finally, Barclays lifted their price target on Warner Bros. Discovery from $10.00 to $12.00 and gave the company an “equal weight” rating in a report on Friday, February 28th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $11.91.

Warner Bros. Discovery Price Performance

NASDAQ WBD opened at $10.48 on Tuesday. The stock’s fifty day moving average price is $10.36 and its 200 day moving average price is $9.49. Warner Bros. Discovery, Inc. has a 1 year low of $6.64 and a 1 year high of $12.70. 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 company has a market cap of $25.73 billion, a price-to-earnings ratio of -2.29, a PEG ratio of 8.64 and a beta of 1.48.

Warner Bros. Discovery (NASDAQ:WBD) last released its earnings results on Thursday, February 27th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.30). Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The firm had revenue of $10.03 billion for the quarter, compared to analyst estimates of $10.16 billion. As a group, equities research 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.