EverSource Wealth Advisors LLC Purchases 14,521 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

EverSource Wealth Advisors LLC raised its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 522.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,301 shares of the company’s stock after acquiring an additional 14,521 shares during the period. EverSource Wealth Advisors LLC’s holdings in Warner Bros. Discovery were worth $183,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. State Street Corp increased its position in Warner Bros. Discovery by 4.1% during the third quarter. State Street Corp now owns 151,285,963 shares of the company’s stock valued at $1,248,109,000 after acquiring an additional 5,898,611 shares during the last quarter. Sessa Capital IM L.P. grew its holdings in shares of Warner Bros. Discovery by 24.7% in the third quarter. Sessa Capital IM L.P. now owns 28,410,428 shares of the company’s stock worth $234,386,000 after purchasing an additional 5,625,545 shares during the last quarter. EdgePoint Investment Group Inc. grew its holdings in shares of Warner Bros. Discovery by 2.6% in the third quarter. EdgePoint Investment Group Inc. now owns 21,396,719 shares of the company’s stock worth $176,523,000 after purchasing an additional 541,192 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its holdings in shares of Warner Bros. Discovery by 1.6% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 20,889,437 shares of the company’s stock worth $172,338,000 after purchasing an additional 329,620 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Warner Bros. Discovery by 5.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 16,547,162 shares of the company’s stock worth $174,904,000 after purchasing an additional 861,656 shares during the last quarter. Institutional investors own 59.95% of the company’s stock.

Analysts Set New Price Targets

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

Warner Bros. Discovery Stock Performance

WBD stock opened at $10.19 on Monday. The firm has a market cap of $25.01 billion, a price-to-earnings ratio of -2.22, a PEG ratio of 8.64 and a beta of 1.48. The firm has a 50-day simple moving average of $10.36 and a two-hundred day simple moving average of $9.49. Warner Bros. Discovery, Inc. has a one year low of $6.64 and a one year high of $12.70. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80.

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

Insider Activity at Warner Bros. Discovery

In related news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was purchased at an average cost of $11.41 per share, with a total value of $197,917.86. Following the transaction, the director now directly owns 159,932 shares of the company’s stock, valued at $1,824,824.12. This trade represents a 12.17 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.80% of the stock is currently owned by insiders.

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.