Prospera Financial Services Inc Buys 169,229 Shares of Warner Bros. Discovery, Inc. $WBD

Prospera Financial Services Inc lifted its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 59.9% during the fourth quarter, Holdings Channel reports. The fund owned 451,631 shares of the company’s stock after acquiring an additional 169,229 shares during the quarter. Prospera Financial Services Inc’s holdings in Warner Bros. Discovery were worth $13,016,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Concord Wealth Partners increased its position in Warner Bros. Discovery by 49.9% in the 3rd quarter. Concord Wealth Partners now owns 1,321 shares of the company’s stock worth $26,000 after buying an additional 440 shares during the period. Physician Wealth Advisors Inc. increased its position in Warner Bros. Discovery by 152.1% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 1,404 shares of the company’s stock worth $27,000 after buying an additional 847 shares during the period. Rakuten Securities Inc. increased its position in Warner Bros. Discovery by 81.5% in the 4th quarter. Rakuten Securities Inc. now owns 1,160 shares of the company’s stock worth $33,000 after buying an additional 521 shares during the period. JPL Wealth Management LLC bought a new position in Warner Bros. Discovery in the 3rd quarter worth approximately $33,000. Finally, TOWER TRUST & INVESTMENT Co increased its position in Warner Bros. Discovery by 4,730.8% in the 4th quarter. TOWER TRUST & INVESTMENT Co now owns 1,256 shares of the company’s stock worth $36,000 after buying an additional 1,230 shares during the period. 59.95% of the stock is owned by institutional investors.

Insider Activity at Warner Bros. Discovery

In other news, Director Fazal F. Merchant sold 35,000 shares of Warner Bros. Discovery stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $27.48, for a total transaction of $961,800.00. Following the sale, the director owned 95,539 shares of the company’s stock, valued at approximately $2,625,411.72. This trade represents a 26.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Gunnar Wiedenfels sold 374,323 shares of Warner Bros. Discovery stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $28.05, for a total value of $10,499,760.15. Following the sale, the chief financial officer directly owned 663,380 shares in the company, valued at $18,607,809. The trade was a 36.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 8,206,827 shares of company stock worth $230,674,025 in the last three months. Company insiders own 1.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on WBD. TD Cowen lifted their price target on Warner Bros. Discovery from $22.00 to $26.00 and gave the stock a “hold” rating in a research report on Friday, February 27th. Raymond James Financial reaffirmed an “underperform” rating on shares of Warner Bros. Discovery in a research report on Friday, February 27th. Argus dropped their price target on Warner Bros. Discovery from $32.00 to $31.00 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd. Sanford C. Bernstein lifted their price target on Warner Bros. Discovery from $23.50 to $27.75 and gave the stock a “market perform” rating in a research report on Tuesday, February 24th. Finally, KeyCorp reaffirmed an “overweight” rating on shares of Warner Bros. Discovery in a research report on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, thirteen have issued a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $26.36.

Warner Bros. Discovery Price Performance

Shares of NASDAQ:WBD opened at $27.03 on Friday. Warner Bros. Discovery, Inc. has a 1-year low of $8.84 and a 1-year high of $30.00. The firm has a market capitalization of $67.77 billion, a PE ratio of -38.61 and a beta of 1.57. The business’s 50 day moving average is $27.26 and its 200-day moving average is $27.10. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.92.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($1.17) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($1.07). Warner Bros. Discovery had a negative return on equity of 4.77% and a negative net margin of 4.67%.The firm had revenue of $8.89 billion for the quarter, compared to analyst estimates of $8.89 billion. During the same period in the previous year, the business posted ($0.18) EPS. Warner Bros. Discovery’s revenue for the quarter was down 1.0% compared to the same quarter last year. Sell-side analysts predict that Warner Bros. Discovery, Inc. will post -0.71 earnings per share for the current year.

Warner Bros. Discovery Company Profile

Warner Bros. Discovery (NASDAQ: WBD) is a global media and entertainment company formed when WarnerMedia and Discovery, Inc combined their businesses in 2022. Headquartered in New York City, the company assembles a broad portfolio of film and television production, linear and cable networks, streaming services and consumer distribution operations. Its assets span well-known studio brands, premium scripted and unscripted programming, news and factual entertainment, and licensed franchise properties.

The company’s core activities include film and television production and distribution through units such as Warner Bros.