Sienna Gestion Invests $5.69 Million in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Sienna Gestion bought a new position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 538,474 shares of the company’s stock, valued at approximately $5,691,000.

Several other hedge funds have also recently bought and sold shares of the stock. Stonebridge Financial Group LLC bought a new position in shares of Warner Bros. Discovery in the fourth quarter valued at approximately $26,000. SRS Capital Advisors Inc. raised its position in Warner Bros. Discovery by 313.4% in the 4th quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company’s stock valued at $27,000 after purchasing an additional 1,940 shares during the last quarter. Ethos Financial Group LLC acquired a new position in Warner Bros. Discovery in the fourth quarter worth $29,000. Briaud Financial Planning Inc grew its holdings in shares of Warner Bros. Discovery by 258.1% during the fourth quarter. Briaud Financial Planning Inc now owns 2,775 shares of the company’s stock worth $29,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Sugar Maple Asset Management LLC acquired a new stake in shares of Warner Bros. Discovery in the fourth quarter valued at $33,000. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Piazza Samuel A. Jr. Di bought 17,346 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were bought at an average price of $11.41 per share, with a total value of $197,917.86. Following the completion of the transaction, the director now owns 159,932 shares of the company’s stock, valued at $1,824,824.12. This trade represents a 12.17 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.80% of the stock is currently owned by insiders.

Warner Bros. Discovery Stock Down 5.1 %

Shares of WBD stock opened at $9.89 on Friday. Warner Bros. Discovery, Inc. has a 12-month low of $6.64 and a 12-month high of $12.70. 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 fifty day moving average of $10.38 and a 200-day moving average of $9.45. The company has a market capitalization of $24.28 billion, a price-to-earnings ratio of -2.16, a P/E/G ratio of 8.64 and a beta of 1.48.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.20) earnings per share 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 predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on WBD shares. Bank of America reiterated a “buy” rating and set a $14.00 price target on shares of Warner Bros. Discovery in a research report on Thursday, December 12th. Guggenheim raised their price target on shares of Warner Bros. Discovery from $11.00 to $12.50 and gave the company a “buy” rating in a report on Thursday, December 12th. Barclays boosted their price objective on shares of Warner Bros. Discovery from $10.00 to $12.00 and gave the stock an “equal weight” rating in a research report on Friday, February 28th. JPMorgan Chase & Co. lifted their target price on Warner Bros. Discovery from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Finally, Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a research report on Friday, February 28th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $11.91.

About Warner Bros. Discovery

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.