111 Capital Takes Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

111 Capital bought a new stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 18,238 shares of the company’s stock, valued at approximately $193,000.

A number of other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Warner Bros. Discovery by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 252,650,791 shares of the company’s stock worth $2,670,519,000 after acquiring an additional 1,658,415 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Warner Bros. Discovery by 3.6% during the fourth quarter. Geode Capital Management LLC now owns 57,441,931 shares of the company’s stock worth $605,633,000 after acquiring an additional 1,991,441 shares in the last quarter. Norges Bank purchased a new stake in shares of Warner Bros. Discovery during the fourth quarter worth $362,210,000. Slate Path Capital LP raised its holdings in shares of Warner Bros. Discovery by 36.6% during the fourth quarter. Slate Path Capital LP now owns 23,801,000 shares of the company’s stock worth $251,577,000 after acquiring an additional 6,381,000 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Warner Bros. Discovery by 7.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 23,608,829 shares of the company’s stock worth $249,545,000 after acquiring an additional 1,725,775 shares in the last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on WBD. Citigroup cut their price objective on Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating for the company in a report on Thursday. Raymond James lowered their target price on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an “outperform” rating on the stock in a research report on Friday, April 4th. Argus raised shares of Warner Bros. Discovery to a “hold” rating in a research report on Tuesday. Barclays increased their target price on shares of Warner Bros. Discovery from $7.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Friday, May 9th. Finally, Wells Fargo & Company increased their target price 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. Eleven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.17.

Warner Bros. Discovery Stock Down 1.9%

WBD stock opened at $9.85 on Friday. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $12.70. The company has a market cap of $24.18 billion, a PE ratio of -2.15, a price-to-earnings-growth ratio of 8.64 and a beta of 1.46. The business’s 50-day simple moving average is $8.94 and its 200 day simple moving average is $9.93. 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 (NASDAQ:WBD) last released its earnings results on Thursday, May 8th. The company reported ($0.18) earnings per share 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 firm had revenue of $8.98 billion for the quarter, compared to analyst estimates of $9.66 billion. During the same period last year, the business earned ($0.40) earnings per share. The firm’s quarterly revenue was down 9.8% compared to the same quarter last year. On average, research analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Insider Buying and Selling

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

Warner Bros. Discovery 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.