Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Purchased by NEOS Investment Management LLC

NEOS Investment Management LLC raised its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 25.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 307,864 shares of the company’s stock after purchasing an additional 62,112 shares during the period. NEOS Investment Management LLC’s holdings in Warner Bros. Discovery were worth $3,254,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hauser Brothers GmbH increased its holdings in Warner Bros. Discovery by 56.1% in the third quarter. Hauser Brothers GmbH now owns 1,225,000 shares of the company’s stock valued at $10,106,000 after buying an additional 440,000 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Warner Bros. Discovery by 3.1% in the 3rd quarter. Principal Financial Group Inc. now owns 2,579,571 shares of the company’s stock valued at $21,281,000 after acquiring an additional 78,653 shares during the last quarter. Erste Asset Management GmbH acquired a new stake in shares of Warner Bros. Discovery during the 3rd quarter valued at approximately $1,474,000. Coronation Fund Managers Ltd. lifted its stake in Warner Bros. Discovery by 54.1% during the fourth quarter. Coronation Fund Managers Ltd. now owns 5,644,290 shares of the company’s stock worth $59,660,000 after purchasing an additional 1,981,050 shares during the last quarter. Finally, SVB Wealth LLC acquired a new position in Warner Bros. Discovery in the fourth quarter worth $168,000. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Warner Bros. Discovery 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 purchased at an average cost of $11.41 per share, with a total value of $197,917.86. Following the purchase, the director now owns 159,932 shares in the company, valued at approximately $1,824,824.12. The trade was a 12.17 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on WBD shares. Guggenheim raised their price target on shares of Warner Bros. Discovery from $11.00 to $12.50 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Barrington Research restated an “outperform” rating and issued a $16.00 target price on shares of Warner Bros. Discovery in a research note on Wednesday, March 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a report on Friday, February 28th. The Goldman Sachs Group raised their price target on Warner Bros. Discovery from $9.50 to $10.75 and gave the stock a “neutral” rating in a report on Thursday, December 19th. Finally, Moffett Nathanson upgraded 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. Ten 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, Warner Bros. Discovery presently has an average rating of “Moderate Buy” and an average price target of $11.91.

Warner Bros. Discovery Price Performance

Shares of NASDAQ:WBD opened at $10.37 on Friday. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70. The stock has a market cap of $25.46 billion, a price-to-earnings ratio of -2.26, a PEG ratio of 8.64 and a beta of 1.48. The stock’s 50 day moving average price is $10.52 and its 200 day moving average price is $9.69. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80.

Warner Bros. Discovery (NASDAQ:WBD) last released its earnings results 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 the consensus estimate of $10.16 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. Equities research analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

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.