Prosperitas Financial LLC Boosts Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Prosperitas Financial LLC boosted its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 9.7% in the 4th quarter, HoldingsChannel reports. The fund owned 139,293 shares of the company’s stock after acquiring an additional 12,324 shares during the quarter. Prosperitas Financial LLC’s holdings in Warner Bros. Discovery were worth $1,472,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of WBD. QRG Capital Management Inc. acquired a new stake in shares of Warner Bros. Discovery during the 4th quarter valued at approximately $121,000. Proficio Capital Partners LLC acquired a new position in Warner Bros. Discovery during the fourth quarter worth $794,000. Kovack Advisors Inc. raised its holdings in Warner Bros. Discovery by 135.1% during the fourth quarter. Kovack Advisors Inc. now owns 70,962 shares of the company’s stock worth $750,000 after purchasing an additional 40,779 shares during the last quarter. Mn Services Vermogensbeheer B.V. boosted its position in Warner Bros. Discovery by 2.2% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 907,600 shares of the company’s stock worth $9,593,000 after purchasing an additional 19,400 shares in the last quarter. Finally, New York Life Investment Management LLC grew its holdings in Warner Bros. Discovery by 0.5% in the fourth quarter. New York Life Investment Management LLC now owns 332,326 shares of the company’s stock valued at $3,513,000 after purchasing an additional 1,497 shares during the last quarter. Institutional investors and hedge funds own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Performance

NASDAQ:WBD opened at $11.00 on Friday. The company has a market cap of $26.98 billion, a P/E ratio of -2.40, a P/E/G ratio of 8.64 and a beta of 1.49. The firm’s 50 day moving average is $10.31 and its two-hundred day moving average is $9.20. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.64 and a fifty-two week high of $12.70. 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 (NASDAQ:WBD) last issued its earnings results 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). Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The firm had revenue of $10.03 billion during the quarter, compared to analysts’ expectations of $10.16 billion. Analysts expect that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Analyst Upgrades and Downgrades

WBD has been the topic of several recent research reports. JPMorgan Chase & Co. boosted their price objective on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 14th. Rosenblatt Securities upped their price target on shares of Warner Bros. Discovery from $9.00 to $13.00 and gave the company a “neutral” rating in a report on Friday, December 13th. Bank of America reiterated a “buy” rating and issued a $14.00 price target on shares of Warner Bros. Discovery in a research report on Thursday, December 12th. Wolfe Research upgraded Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research report on Monday, November 11th. Finally, KeyCorp increased their target price on Warner Bros. Discovery from $11.00 to $14.00 and gave the company an “overweight” rating in a report on Tuesday, December 10th. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $11.76.

Insider Activity

In related news, insider Savalle Sims sold 169,436 shares of the company’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $12.36, for a total transaction of $2,094,228.96. Following the completion of the sale, the insider now directly owns 599,317 shares of the company’s stock, valued at approximately $7,407,558.12. This represents a 22.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.80% of the company’s stock.

Warner Bros. Discovery Company 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.