Atlas Capital Advisors Inc. Raises Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Atlas Capital Advisors Inc. boosted its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 1,858.2% in the 4th quarter, Holdings Channel reports. The fund owned 3,799 shares of the company’s stock after buying an additional 3,605 shares during the period. Atlas Capital Advisors Inc.’s holdings in Warner Bros. Discovery were worth $40,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in shares of Warner Bros. Discovery by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 252,650,791 shares of the company’s stock valued at $2,670,519,000 after purchasing an additional 1,658,415 shares in the last quarter. State Street Corp increased its holdings in Warner Bros. Discovery by 4.1% in the third quarter. State Street Corp now owns 151,285,963 shares of the company’s stock valued at $1,248,109,000 after buying an additional 5,898,611 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Warner Bros. Discovery by 3.6% in the fourth quarter. Geode Capital Management LLC now owns 57,441,931 shares of the company’s stock worth $605,633,000 after acquiring an additional 1,991,441 shares during the period. Norges Bank purchased a new stake in shares of Warner Bros. Discovery during the 4th quarter worth about $362,210,000. Finally, EdgePoint Investment Group Inc. grew its position in shares of Warner Bros. Discovery by 2.6% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 21,396,719 shares of the company’s stock valued at $176,523,000 after acquiring an additional 541,192 shares during the period. 59.95% of the stock is owned by institutional investors and hedge funds.

Insider Transactions 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 dated Monday, March 3rd. The shares were purchased at an average cost of $11.41 per share, for a total transaction of $197,917.86. Following the acquisition, the director now owns 159,932 shares in the company, valued at $1,824,824.12. The trade was a 12.17 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

WBD has been the topic of a number of recent analyst reports. Barrington Research reiterated an “outperform” rating and set a $16.00 price target on shares of Warner Bros. Discovery in a research report on Wednesday, March 5th. Guggenheim lifted their price target on shares of Warner Bros. Discovery from $11.00 to $12.50 and gave the company a “buy” rating in a research note on Thursday, December 12th. Citigroup upped their price objective on shares of Warner Bros. Discovery from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. Rosenblatt Securities reiterated a “neutral” rating and issued a $13.00 target price on shares of Warner Bros. Discovery in a research report on Friday, March 7th. Finally, KeyCorp upped their price target on shares of Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.96.

Warner Bros. Discovery Stock Performance

NASDAQ:WBD opened at $8.07 on Friday. The company’s 50-day moving average is $10.50 and its two-hundred day moving average is $9.77. Warner Bros. Discovery, Inc. has a 1-year low of $6.64 and a 1-year high of $12.70. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a market capitalization of $19.81 billion, a price-to-earnings ratio of -1.76, a PEG ratio of 8.64 and a beta of 1.43.

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 net margin of 28.34% and a negative return on equity of 27.56%. Analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Warner Bros. Discovery 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.