LRI Investments LLC Acquires 3,619 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

LRI Investments LLC raised its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 66.3% in the 4th quarter, HoldingsChannel reports. The fund owned 9,079 shares of the company’s stock after acquiring an additional 3,619 shares during the period. LRI Investments LLC’s holdings in Warner Bros. Discovery were worth $96,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Golden State Equity Partners increased its holdings in Warner Bros. Discovery by 6.5% in the fourth quarter. Golden State Equity Partners now owns 16,124 shares of the company’s stock valued at $170,000 after purchasing an additional 986 shares during the period. Colonial Trust Advisors grew its position 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 buying an additional 996 shares during the last quarter. Deseret Mutual Benefit Administrators increased its stake in shares of Warner Bros. Discovery by 12.0% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 9,925 shares of the company’s stock valued at $105,000 after buying an additional 1,066 shares during the period. Cornerstone Wealth Management LLC raised its position in shares of Warner Bros. Discovery by 7.4% during the fourth quarter. Cornerstone Wealth Management LLC now owns 15,995 shares of the company’s stock worth $169,000 after acquiring an additional 1,101 shares during the last quarter. Finally, Personal CFO Solutions LLC lifted its stake in shares of Warner Bros. Discovery by 2.8% in the fourth quarter. Personal CFO Solutions LLC now owns 42,935 shares of the company’s stock worth $454,000 after acquiring an additional 1,174 shares during the period. Institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Up 1.8%

Warner Bros. Discovery stock opened at $9.23 on Tuesday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. The firm’s fifty day moving average price is $9.30 and its two-hundred day moving average price is $9.87. The firm has a market capitalization of $22.66 billion, a price-to-earnings ratio of -2.02, a price-to-earnings-growth ratio of 8.64 and a beta of 1.46. Warner Bros. Discovery, Inc. has a 1-year low of $6.64 and a 1-year high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.06). Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The company had revenue of $8.98 billion for the quarter, compared to the consensus estimate of $9.66 billion. During the same period in the prior year, the firm posted ($0.40) earnings per share. The business’s revenue for the quarter was down 9.8% on a year-over-year basis. On average, equities research analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have weighed in on WBD shares. Rosenblatt Securities reissued a “neutral” rating and set a $13.00 target price on shares of Warner Bros. Discovery in a research report on Friday, March 7th. Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a research report on Friday, February 28th. JPMorgan Chase & Co. boosted their target price on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Tuesday, January 14th. Barrington Research reiterated an “outperform” rating and set a $16.00 price target on shares of Warner Bros. Discovery in a report on Wednesday, March 5th. Finally, Morgan Stanley lowered their price objective on Warner Bros. Discovery from $12.00 to $10.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 6th. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $12.22.

Insider Activity at Warner Bros. Discovery

In other news, Director Piazza Samuel A. Jr. Di bought 17,346 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were purchased at an average price of $11.41 per share, with a total value of $197,917.86. Following the transaction, 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 ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.90% 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.