TCTC Holdings LLC Purchases 1,250 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

TCTC Holdings LLC raised its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 18.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,156 shares of the company’s stock after purchasing an additional 1,250 shares during the quarter. TCTC Holdings LLC’s holdings in Warner Bros. Discovery were worth $86,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Atria Investments Inc grew its stake in shares of Warner Bros. Discovery by 31.9% during the 3rd quarter. Atria Investments Inc now owns 98,062 shares of the company’s stock valued at $809,000 after acquiring an additional 23,697 shares during the period. Versor Investments LP bought a new position in shares of Warner Bros. Discovery during the 3rd quarter valued at approximately $93,000. Apollon Wealth Management LLC grew its stake in shares of Warner Bros. Discovery by 96.8% during the 3rd quarter. Apollon Wealth Management LLC now owns 53,719 shares of the company’s stock valued at $443,000 after acquiring an additional 26,421 shares during the period. OneDigital Investment Advisors LLC grew its stake in shares of Warner Bros. Discovery by 40.5% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 63,850 shares of the company’s stock valued at $527,000 after acquiring an additional 18,404 shares during the period. Finally, CIBC Asset Management Inc grew its stake in shares of Warner Bros. Discovery by 5.8% during the 3rd quarter. CIBC Asset Management Inc now owns 735,025 shares of the company’s stock valued at $6,064,000 after acquiring an additional 40,211 shares during the period. 59.95% of the stock is currently owned by institutional investors.

Warner Bros. Discovery Stock Up 2.8 %

NASDAQ WBD opened at $10.48 on Tuesday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market capitalization of $25.73 billion, a P/E ratio of -2.29, a P/E/G ratio of 8.64 and a beta of 1.48. Warner Bros. Discovery, Inc. has a one year low of $6.64 and a one year high of $12.70. The stock has a 50 day moving average price of $10.36 and a 200-day moving average price of $9.49.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly 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 net margin of 28.34% and a negative return on equity of 27.56%. The company had revenue of $10.03 billion for the quarter, compared to analysts’ expectations of $10.16 billion. As a group, equities analysts predict 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 purchased 17,346 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were bought at an average price of $11.41 per share, for a total transaction of $197,917.86. Following the acquisition, the director now owns 159,932 shares of the company’s stock, valued at approximately $1,824,824.12. This represents a 12.17 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on WBD shares. Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a research note on Friday, February 28th. Bank of America reiterated a “buy” rating and set a $14.00 price objective on shares of Warner Bros. Discovery in a research note on Thursday, December 12th. JPMorgan Chase & Co. boosted their price objective on Warner Bros. Discovery from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. KeyCorp upped their price target on Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 10th. Finally, Rosenblatt Securities restated a “neutral” rating and issued a $13.00 price target on shares of Warner Bros. Discovery in a research note on Friday, March 7th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Warner Bros. Discovery has a consensus rating of “Moderate Buy” and an average target price of $11.91.

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.