Warner Bros. Discovery, Inc. $WBD Shares Acquired by Patriot Financial Group Insurance Agency LLC

Patriot Financial Group Insurance Agency LLC lifted its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 121.5% during the first quarter, Holdings Channel reports. The institutional investor owned 58,098 shares of the company’s stock after purchasing an additional 31,865 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Warner Bros. Discovery were worth $1,595,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of WBD. Vanguard Group Inc. lifted its holdings in Warner Bros. Discovery by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 283,180,433 shares of the company’s stock valued at $8,161,260,000 after acquiring an additional 1,966,278 shares during the period. Geode Capital Management LLC boosted its position in shares of Warner Bros. Discovery by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 66,597,575 shares of the company’s stock worth $1,912,634,000 after purchasing an additional 1,028,346 shares in the last quarter. Norges Bank acquired a new position in shares of Warner Bros. Discovery during the 4th quarter worth $1,123,807,000. Jericho Capital Asset Management L.P. grew its stake in shares of Warner Bros. Discovery by 108.9% during the 3rd quarter. Jericho Capital Asset Management L.P. now owns 35,095,390 shares of the company’s stock worth $685,413,000 after purchasing an additional 18,291,865 shares during the period. Finally, Morgan Stanley increased its holdings in shares of Warner Bros. Discovery by 4.8% in the 4th quarter. Morgan Stanley now owns 27,462,742 shares of the company’s stock valued at $791,476,000 after purchasing an additional 1,254,813 shares in the last quarter. Institutional investors and hedge funds own 59.95% of the company’s stock.

Warner Bros. Discovery Price Performance

Warner Bros. Discovery stock opened at $27.13 on Tuesday. The firm has a market capitalization of $68.02 billion, a PE ratio of -38.76 and a beta of 1.54. Warner Bros. Discovery, Inc. has a 52 week low of $10.76 and a 52 week high of $30.00. The firm’s 50-day simple moving average is $26.97 and its 200 day simple moving average is $27.70. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.92.

Warner Bros. Discovery (NASDAQ:WBD) last posted its earnings results 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). The business had revenue of $8.89 billion for the quarter, compared to analysts’ expectations of $8.89 billion. Warner Bros. Discovery had a negative net margin of 4.67% and a negative return on equity of 4.77%. The business’s revenue was down 1.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.18) earnings per share. On average, equities research analysts predict that Warner Bros. Discovery, Inc. will post -1.07 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on WBD. Huber Research upgraded shares of Warner Bros. Discovery from an “underweight” rating to an “overweight” rating in a research note on Monday, June 1st. Seaport Research Partners raised shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and set a $31.00 target price for the company in a report on Monday. Argus reduced their price target on shares of Warner Bros. Discovery from $32.00 to $31.00 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. UBS Group boosted their price target on Warner Bros. Discovery from $30.00 to $31.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Finally, Moffett Nathanson upgraded Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a report on Sunday, March 8th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $27.04.

About Warner Bros. Discovery

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.