Choreo LLC Acquires Shares of 21,589 Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Choreo LLC bought a new position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 21,589 shares of the company’s stock, valued at approximately $246,000.

A number of other institutional investors also recently modified their holdings of the stock. Oppenheimer & Co. Inc. grew its stake in Warner Bros. Discovery by 15.2% in the third quarter. Oppenheimer & Co. Inc. now owns 409,018 shares of the company’s stock valued at $4,442,000 after purchasing an additional 53,909 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in Warner Bros. Discovery by 39.9% in the third quarter. Daiwa Securities Group Inc. now owns 423,008 shares of the company’s stock valued at $4,594,000 after purchasing an additional 120,586 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in Warner Bros. Discovery by 4.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 805,597 shares of the company’s stock valued at $9,168,000 after purchasing an additional 36,405 shares in the last quarter. Anchor Investment Management LLC purchased a new position in Warner Bros. Discovery in the fourth quarter valued at about $105,000. Finally, Ameriprise Financial Inc. grew its stake in Warner Bros. Discovery by 2.4% in the third quarter. Ameriprise Financial Inc. now owns 7,879,216 shares of the company’s stock valued at $85,588,000 after purchasing an additional 186,639 shares in the last quarter. Institutional investors and hedge funds own 59.95% of the company’s stock.

Warner Bros. Discovery Price Performance

Shares of WBD stock opened at $7.97 on Friday. The stock has a 50 day moving average of $8.45 and a two-hundred day moving average of $9.88. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.90. Warner Bros. Discovery, Inc. has a 12 month low of $7.34 and a 12 month high of $14.76. The company has a market capitalization of $19.44 billion, a P/E ratio of -6.23 and a beta of 1.51.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings data on Friday, February 23rd. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.05). Warner Bros. Discovery had a negative return on equity of 3.48% and a negative net margin of 7.57%. The firm had revenue of $10.28 billion during the quarter, compared to the consensus estimate of $10.34 billion. During the same quarter in the prior year, the business posted $0.42 EPS. Warner Bros. Discovery’s revenue was down 6.6% compared to the same quarter last year. As a group, equities analysts expect that Warner Bros. Discovery, Inc. will post -0.35 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Wells Fargo & Company downgraded Warner Bros. Discovery from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $16.00 to $12.00 in a research note on Monday, January 29th. Citigroup lowered their price objective on Warner Bros. Discovery from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, February 29th. Barclays lowered their price objective on Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating on the stock in a report on Thursday, February 29th. Redburn Atlantic lowered Warner Bros. Discovery from a “buy” rating to a “neutral” rating and set a $11.00 price objective on the stock. in a report on Thursday, January 11th. Finally, JPMorgan Chase & Co. lowered their price objective on Warner Bros. Discovery from $13.00 to $10.00 and set a “neutral” rating on the stock in a report on Monday, February 26th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $13.83.

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.