Lindbrook Capital LLC Grows Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Lindbrook Capital LLC raised its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 28.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 6,868 shares of the company’s stock after buying an additional 1,527 shares during the quarter. Lindbrook Capital LLC’s holdings in Warner Bros. Discovery were worth $73,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. State Street Corp raised its holdings in shares of Warner Bros. Discovery by 4.1% during the 3rd quarter. State Street Corp now owns 151,285,963 shares of the company’s stock valued at $1,248,109,000 after buying an additional 5,898,611 shares during the period. Sessa Capital IM L.P. raised its holdings in shares of Warner Bros. Discovery by 24.7% during the 3rd quarter. Sessa Capital IM L.P. now owns 28,410,428 shares of the company’s stock valued at $234,386,000 after buying an additional 5,625,545 shares during the period. Pine Valley Investments Ltd Liability Co purchased a new stake in shares of Warner Bros. Discovery during the 4th quarter valued at about $23,825,000. Coronation Fund Managers Ltd. raised its holdings in shares of Warner Bros. Discovery by 54.1% during the 4th quarter. Coronation Fund Managers Ltd. now owns 5,644,290 shares of the company’s stock valued at $59,660,000 after buying an additional 1,981,050 shares during the period. Finally, Worldquant Millennium Advisors LLC raised its holdings in shares of Warner Bros. Discovery by 110.1% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 3,422,929 shares of the company’s stock valued at $28,239,000 after buying an additional 1,793,404 shares during the period. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Warner Bros. Discovery

In other news, insider Savalle Sims sold 169,436 shares of Warner Bros. Discovery stock in a transaction on Friday, December 13th. The stock was sold at an average price of $12.36, for a total transaction of $2,094,228.96. Following the transaction, the insider now owns 599,317 shares in the company, valued at approximately $7,407,558.12. The trade was a 22.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Piazza Samuel A. Jr. Di purchased 17,346 shares of the stock in a transaction dated Monday, March 3rd. The shares were acquired at an average price of $11.41 per share, for a total transaction of $197,917.86. Following the acquisition, the director now directly owns 159,932 shares of the company’s stock, valued at $1,824,824.12. This represents a 12.17 % increase in their position. The disclosure for this purchase can be found here. 1.80% of the stock is owned by insiders.

Warner Bros. Discovery Stock Up 3.5 %

Shares of Warner Bros. Discovery stock opened at $11.07 on Friday. The stock’s fifty day moving average is $10.39 and its 200-day moving average is $9.38. The firm has a market capitalization of $27.16 billion, a PE ratio of -2.42, a price-to-earnings-growth ratio of 8.64 and a beta of 1.48. 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 12-month low of $6.64 and a 12-month high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last announced its earnings results on Thursday, February 27th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.30). The company had revenue of $10.03 billion for the quarter, compared to analyst estimates of $10.16 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. Equities analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently commented on WBD. Wolfe Research upgraded Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a report on Monday, November 11th. Citigroup raised their target price on Warner Bros. Discovery from $13.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday. Benchmark restated a “buy” rating and set a $18.00 price objective on shares of Warner Bros. Discovery in a report on Wednesday, February 26th. Barrington Research restated an “outperform” rating and set a $16.00 price objective on shares of Warner Bros. Discovery in a report on Wednesday. Finally, Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a report on Friday, February 28th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Warner Bros. Discovery has a consensus rating of “Moderate Buy” and an average price target of $11.91.

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.