Ameriflex Group Inc. Buys New Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Ameriflex Group Inc. bought a new stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) during the fourth quarter, Holdings Channel.com reports. The fund bought 2,855 shares of the company’s stock, valued at approximately $30,000.

A number of other hedge funds have also recently modified their holdings of the stock. Brighton Jones LLC grew its position in Warner Bros. Discovery by 304.9% during the 4th quarter. Brighton Jones LLC now owns 68,950 shares of the company’s stock worth $729,000 after purchasing an additional 51,920 shares during the last quarter. Geneos Wealth Management Inc. purchased a new position in Warner Bros. Discovery during the 4th quarter worth $120,000. KBC Group NV grew its position in Warner Bros. Discovery by 1.5% during the 4th quarter. KBC Group NV now owns 912,747 shares of the company’s stock worth $9,648,000 after purchasing an additional 13,396 shares during the last quarter. Pacer Advisors Inc. grew its position in Warner Bros. Discovery by 27.3% during the 4th quarter. Pacer Advisors Inc. now owns 363,983 shares of the company’s stock worth $3,847,000 after purchasing an additional 78,123 shares during the last quarter. Finally, Nilsine Partners LLC purchased a new position in Warner Bros. Discovery during the 4th quarter worth $150,000. 59.95% of the stock is owned by hedge funds and other institutional investors.

Warner Bros. Discovery Stock Up 0.2%

Shares of NASDAQ WBD opened at $10.04 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $12.70. The firm has a 50-day moving average price of $8.96 and a 200 day moving average price of $9.93. The stock has a market capitalization of $24.65 billion, a price-to-earnings ratio of -2.19, a price-to-earnings-growth ratio of 8.64 and a beta of 1.46.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.18) EPS 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 earned ($0.40) EPS. The firm’s revenue for the quarter was down 9.8% on a year-over-year basis. Equities research analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Analyst Ratings Changes

WBD has been the topic of several research reports. Rosenblatt Securities reissued a “neutral” rating and set a $13.00 price objective on shares of Warner Bros. Discovery in a research report on Friday, March 7th. Wells Fargo & Company raised their price objective on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the stock an “equal weight” rating in a research report on Friday, May 9th. Citigroup lowered their price objective on shares of Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday. KeyCorp lowered their price objective on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an “overweight” rating on the stock in a research report on Monday, April 14th. Finally, Morgan Stanley lowered their target price on shares of Warner Bros. Discovery from $12.00 to $10.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 6th. Eleven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $12.17.

Insider Activity at Warner Bros. Discovery

In other Warner Bros. Discovery news, Director Piazza Samuel A. Jr. Di bought 17,346 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was bought at an average price of $11.41 per share, for a total transaction of $197,917.86. Following the completion of the transaction, the director now owns 159,932 shares in the company, valued at approximately $1,824,824.12. The trade was a 12.17% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.90% of the company’s stock.

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.