Vanguard Group Inc. Purchases 1,658,415 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Vanguard Group Inc. lifted its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 0.7% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 252,650,791 shares of the company’s stock after buying an additional 1,658,415 shares during the period. Vanguard Group Inc. owned approximately 10.30% of Warner Bros. Discovery worth $2,670,519,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Golden State Equity Partners grew its stake in Warner Bros. Discovery by 6.5% in the 4th quarter. Golden State Equity Partners now owns 16,124 shares of the company’s stock valued at $170,000 after purchasing an additional 986 shares during the period. Deseret Mutual Benefit Administrators boosted its stake in Warner Bros. Discovery by 12.0% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 9,925 shares of the company’s stock valued at $105,000 after acquiring an additional 1,066 shares during the last quarter. Cornerstone Wealth Management LLC increased its stake in shares of Warner Bros. Discovery by 7.4% during the 4th quarter. Cornerstone Wealth Management LLC now owns 15,995 shares of the company’s stock worth $169,000 after purchasing an additional 1,101 shares during the last quarter. Personal CFO Solutions LLC raised its holdings in shares of Warner Bros. Discovery by 2.8% in the 4th quarter. Personal CFO Solutions LLC now owns 42,935 shares of the company’s stock worth $454,000 after purchasing an additional 1,174 shares during the period. Finally, Avestar Capital LLC lifted its stake in Warner Bros. Discovery by 9.4% in the fourth quarter. Avestar Capital LLC now owns 14,337 shares of the company’s stock valued at $152,000 after purchasing an additional 1,228 shares during the last quarter. 59.95% of the stock is owned by institutional investors.

Warner Bros. Discovery Stock Performance

Shares of WBD stock opened at $10.98 on Wednesday. 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 company has a 50 day moving average price of $10.45 and a 200-day moving average price of $9.65. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $12.70. The firm has a market capitalization of $26.95 billion, a PE ratio of -2.40, a P/E/G ratio of 8.64 and a beta of 1.48.

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

Wall Street Analyst Weigh In

WBD has been the topic of a number of research reports. Benchmark restated a “buy” rating and issued a $18.00 price objective on shares of Warner Bros. Discovery in a research note on Wednesday, February 26th. Moffett Nathanson upgraded Warner Bros. Discovery from a “neutral” rating to a “buy” rating and increased their target price for the stock from $9.00 to $13.00 in a research report on Tuesday, January 21st. Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a research report on Friday, February 28th. Barrington Research reaffirmed an “outperform” rating and set a $16.00 price objective on shares of Warner Bros. Discovery in a research note on Wednesday, March 5th. Finally, Bank of America reiterated a “buy” rating and issued a $14.00 target price on shares of Warner Bros. Discovery in a research note on Thursday, December 12th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $11.91.

Insiders Place Their Bets

In other news, Director Piazza Samuel A. Jr. Di bought 17,346 shares of Warner Bros. Discovery stock in a transaction that occurred on Monday, March 3rd. The stock was bought at an average cost of $11.41 per share, with a total value of $197,917.86. Following the acquisition, the director now owns 159,932 shares of the company’s stock, valued at $1,824,824.12. The trade was a 12.17 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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.