Ellevest Inc. Acquires Shares of 20,107 Warner Bros. Discovery, Inc. $WBD

Ellevest Inc. acquired a new stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 20,107 shares of the company’s stock, valued at approximately $579,000.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Warner Bros. Discovery by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 283,180,433 shares of the company’s stock valued at $8,161,260,000 after purchasing an additional 1,966,278 shares during the period. Geode Capital Management LLC boosted its holdings in Warner Bros. Discovery by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 66,597,575 shares of the company’s stock valued at $1,912,634,000 after purchasing an additional 1,028,346 shares during the period. Norges Bank bought a new stake in Warner Bros. Discovery in the 4th quarter valued at about $1,123,807,000. Jericho Capital Asset Management L.P. boosted its holdings in Warner Bros. Discovery by 108.9% in the 3rd quarter. Jericho Capital Asset Management L.P. now owns 35,095,390 shares of the company’s stock valued at $685,413,000 after purchasing an additional 18,291,865 shares during the period. Finally, Northern Trust Corp boosted its holdings in Warner Bros. Discovery by 3.9% in the 3rd quarter. Northern Trust Corp now owns 23,496,725 shares of the company’s stock valued at $458,891,000 after purchasing an additional 876,869 shares during the period. Institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Up 0.9%

Shares of NASDAQ:WBD opened at $27.25 on Tuesday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.73 and a current ratio of 0.73. Warner Bros. Discovery, Inc. has a 52-week low of $9.11 and a 52-week high of $30.00. The company has a fifty day moving average of $27.22 and a 200-day moving average of $27.31. The company has a market capitalization of $68.32 billion, a PE ratio of -38.93 and a beta of 1.54.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($1.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($1.07). Warner Bros. Discovery had a negative net margin of 4.67% and a negative return on equity of 4.77%. The business had revenue of $8.89 billion during the quarter, compared to analyst estimates of $8.89 billion. During the same quarter last year, the company posted ($0.18) earnings per share. The company’s revenue was down 1.0% compared to the same quarter last year. On average, equities analysts predict that Warner Bros. Discovery, Inc. will post -0.71 EPS for the current fiscal year.

Insider Transactions at Warner Bros. Discovery

In other Warner Bros. Discovery news, insider Bruce Campbell sold 1,580,331 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $28.00, for a total value of $44,249,268.00. Following the completion of the transaction, the insider directly owned 690,028 shares in the company, valued at approximately $19,320,784. This represents a 69.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Paul A. Gould sold 600,000 shares of the company’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $27.35, for a total transaction of $16,410,000.00. Following the completion of the sale, the director directly owned 244,357 shares in the company, valued at approximately $6,683,163.95. This represents a 71.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 3,286,556 shares of company stock worth $91,638,563. 1.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on WBD. KeyCorp restated an “overweight” rating on shares of Warner Bros. Discovery in a research report on Friday, April 24th. Deutsche Bank Aktiengesellschaft cut shares of Warner Bros. Discovery from a “buy” rating to a “hold” rating and boosted their target price for the company from $29.50 to $31.00 in a research report on Friday, February 27th. Raymond James Financial restated an “underperform” rating on shares of Warner Bros. Discovery in a research report on Friday, February 27th. Guggenheim restated a “neutral” rating on shares of Warner Bros. Discovery in a research report on Thursday, May 7th. Finally, Moffett Nathanson upgraded shares of Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a research report on Sunday, March 8th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, thirteen have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $27.04.

About Warner Bros. Discovery

Warner Bros. Discovery (NASDAQ: WBD) is a global media and entertainment company formed when WarnerMedia and Discovery, Inc combined their businesses in 2022. Headquartered in New York City, the company assembles a broad portfolio of film and television production, linear and cable networks, streaming services and consumer distribution operations. Its assets span well-known studio brands, premium scripted and unscripted programming, news and factual entertainment, and licensed franchise properties.

The company’s core activities include film and television production and distribution through units such as Warner Bros.