Essential Planning LLC. Invests $731,000 in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Essential Planning LLC. purchased a new position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 69,155 shares of the company’s stock, valued at approximately $731,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Stonebridge Financial Group LLC acquired a new stake in shares of Warner Bros. Discovery during the 4th quarter worth approximately $26,000. SRS Capital Advisors Inc. raised its position in shares of Warner Bros. Discovery by 313.4% during the 4th quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company’s stock worth $27,000 after purchasing an additional 1,940 shares during the period. Ethos Financial Group LLC acquired a new stake in shares of Warner Bros. Discovery during the 4th quarter worth approximately $29,000. Briaud Financial Planning Inc raised its position in shares of Warner Bros. Discovery by 258.1% during the 4th quarter. Briaud Financial Planning Inc now owns 2,775 shares of the company’s stock worth $29,000 after purchasing an additional 2,000 shares during the period. Finally, Sugar Maple Asset Management LLC bought a new position in Warner Bros. Discovery in the 4th quarter worth approximately $33,000. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WBD has been the subject of a number of recent analyst reports. KeyCorp increased their price objective on Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. Benchmark reissued a “buy” rating and issued a $18.00 price objective on shares of Warner Bros. Discovery in a report on Wednesday, February 26th. Citigroup increased their price objective on Warner Bros. Discovery from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. Rosenblatt Securities reissued a “neutral” rating and issued a $13.00 price objective on shares of Warner Bros. Discovery in a report on Friday, March 7th. Finally, Barrington Research reissued an “outperform” rating and issued a $16.00 price objective on shares of Warner Bros. Discovery in a report on Wednesday, March 5th. Ten 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 currently has an average rating of “Moderate Buy” and an average price target of $11.91.

Warner Bros. Discovery Stock Performance

WBD opened at $9.89 on Friday. The firm has a market cap of $24.28 billion, a PE ratio of -2.16, a P/E/G 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. The business has a fifty day simple moving average of $10.38 and a 200-day simple moving average of $9.45. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.64 and a fifty-two week high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.30). The company had revenue of $10.03 billion for the quarter, compared to the consensus estimate of $10.16 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. As a group, equities analysts predict that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Insider Transactions at Warner Bros. Discovery

In other Warner Bros. Discovery news, Director Piazza Samuel A. Jr. Di bought 17,346 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was acquired at an average price of $11.41 per share, with a total value of $197,917.86. Following the completion of the transaction, the director now directly owns 159,932 shares in the company, valued at approximately $1,824,824.12. This represents a 12.17 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.80% 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.