Lorne Steinberg Wealth Management Inc. Buys 5,493 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Lorne Steinberg Wealth Management Inc. boosted its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 2.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 222,527 shares of the company’s stock after purchasing an additional 5,493 shares during the period. Lorne Steinberg Wealth Management Inc.’s holdings in Warner Bros. Discovery were worth $2,532,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Fortis Group Advisors LLC bought a new stake in Warner Bros. Discovery during the 3rd quarter worth about $25,000. Peoples Bank KS acquired a new position in shares of Warner Bros. Discovery during the 3rd quarter worth approximately $27,000. Pacifica Partners Inc. raised its stake in shares of Warner Bros. Discovery by 118.2% during the 4th quarter. Pacifica Partners Inc. now owns 2,483 shares of the company’s stock worth $27,000 after purchasing an additional 1,345 shares in the last quarter. Milestone Investment Advisors LLC bought a new position in shares of Warner Bros. Discovery in the third quarter valued at $28,000. Finally, Headinvest LLC bought a new position in shares of Warner Bros. Discovery in the third quarter valued at $28,000. 59.95% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on WBD shares. Barclays cut their price objective on Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating for the company in a research report on Thursday, February 29th. Wolfe Research cut shares of Warner Bros. Discovery from a “peer perform” rating to an “underperform” rating and set a $7.00 price objective for the company. in a research report on Tuesday. Morgan Stanley dropped their price objective on shares of Warner Bros. Discovery from $14.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Monday, February 26th. Redburn Atlantic downgraded shares of Warner Bros. Discovery from a “buy” rating to a “neutral” rating and set a $11.00 target price for the company. in a report on Thursday, January 11th. Finally, Citigroup lowered their price target on shares of Warner Bros. Discovery from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, February 29th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.83.

Warner Bros. Discovery Trading Down 1.9 %

Shares of Warner Bros. Discovery stock traded down $0.16 on Wednesday, hitting $8.28. The stock had a trading volume of 9,874,774 shares, compared to its average volume of 26,359,727. The stock has a 50 day moving average of $8.72 and a 200 day moving average of $10.02. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.93 and a current ratio of 0.93. Warner Bros. Discovery, Inc. has a twelve month low of $8.02 and a twelve month high of $14.76. The firm has a market capitalization of $20.20 billion, a P/E ratio of -6.52 and a beta of 1.51.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results on Friday, February 23rd. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.05). Warner Bros. Discovery had a negative net margin of 7.57% and a negative return on equity of 3.48%. The business had revenue of $10.28 billion for the quarter, compared to the consensus estimate of $10.34 billion. During the same period in the previous year, the business posted $0.42 EPS. Warner Bros. Discovery’s revenue was down 6.6% on a year-over-year basis. Sell-side analysts expect that Warner Bros. Discovery, Inc. will post -0.35 earnings per share for the current fiscal 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.