Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Acquired by Heron Bay Capital Management

Heron Bay Capital Management increased its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 1.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,145,169 shares of the company’s stock after buying an additional 16,500 shares during the quarter. Warner Bros. Discovery comprises about 2.5% of Heron Bay Capital Management’s investment portfolio, making the stock its 16th biggest position. Heron Bay Capital Management’s holdings in Warner Bros. Discovery were worth $12,104,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in WBD. Empowered Funds LLC grew its stake in Warner Bros. Discovery by 5.2% during the third quarter. Empowered Funds LLC now owns 58,354 shares of the company’s stock worth $481,000 after buying an additional 2,901 shares during the period. Natixis Advisors LLC lifted its holdings in shares of Warner Bros. Discovery by 22.7% during the 3rd quarter. Natixis Advisors LLC now owns 280,982 shares of the company’s stock valued at $2,318,000 after acquiring an additional 52,051 shares in the last quarter. Quest Partners LLC boosted its position in Warner Bros. Discovery by 173.7% during the 3rd quarter. Quest Partners LLC now owns 44,284 shares of the company’s stock worth $365,000 after purchasing an additional 28,104 shares during the period. Pathstone Holdings LLC increased its holdings in Warner Bros. Discovery by 11.6% in the 3rd quarter. Pathstone Holdings LLC now owns 171,331 shares of the company’s stock valued at $1,413,000 after purchasing an additional 17,869 shares in the last quarter. Finally, Caprock Group LLC purchased a new position in Warner Bros. Discovery in the third quarter valued at about $99,000. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Price Performance

Shares of WBD opened at $10.74 on Friday. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $12.70. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. The firm has a market cap of $26.36 billion, a price-to-earnings ratio of -2.34, a PEG ratio of 8.64 and a beta of 1.48. The stock has a 50 day moving average of $10.40 and a 200-day moving average of $9.58.

Warner Bros. Discovery (NASDAQ:WBD) last released 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). The business had revenue of $10.03 billion during the quarter, compared to analyst estimates 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, analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on WBD. The Goldman Sachs Group upped their target price on Warner Bros. Discovery from $9.50 to $10.75 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Rosenblatt Securities restated a “neutral” rating and issued a $13.00 price target on shares of Warner Bros. Discovery in a report on Friday, March 7th. Citigroup increased their price objective on shares of Warner Bros. Discovery from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. Benchmark reissued a “buy” rating and set a $18.00 target price on shares of Warner Bros. Discovery in a research report on Wednesday, February 26th. Finally, KeyCorp raised their price target on shares of 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 given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.91.

Insider Activity at Warner Bros. Discovery

In related news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of Warner Bros. Discovery stock in a transaction that occurred on Monday, March 3rd. The stock was acquired at an average price of $11.41 per share, for a total transaction 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 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.

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.