Wealth Enhancement Advisory Services LLC Grows Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Wealth Enhancement Advisory Services LLC grew its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 0.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 183,462 shares of the company’s stock after purchasing an additional 1,387 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Warner Bros. Discovery were worth $1,939,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Future Financial Wealth Managment LLC purchased a new stake in shares of Warner Bros. Discovery in the third quarter valued at approximately $41,000. Larson Financial Group LLC grew its stake in Warner Bros. Discovery by 54.1% in the 3rd quarter. Larson Financial Group LLC now owns 4,998 shares of the company’s stock valued at $41,000 after acquiring an additional 1,754 shares during the period. Quarry LP increased its holdings in Warner Bros. Discovery by 2,185.1% in the 2nd quarter. Quarry LP now owns 6,307 shares of the company’s stock worth $47,000 after acquiring an additional 6,031 shares in the last quarter. Brooklyn Investment Group acquired a new position in Warner Bros. Discovery during the third quarter worth $51,000. Finally, William B. Walkup & Associates Inc. purchased a new position in Warner Bros. Discovery during the second quarter valued at $59,000. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their price target on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Tuesday. Bank of America reissued a “buy” rating and set a $14.00 target price on shares of Warner Bros. Discovery in a report on Thursday, December 12th. Barrington Research reaffirmed an “outperform” rating and issued a $16.00 price target on shares of Warner Bros. Discovery in a research note on Friday, December 13th. Wolfe Research raised Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research note on Monday, November 11th. Finally, The Goldman Sachs Group lifted their target price on shares of Warner Bros. Discovery from $9.50 to $10.75 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Warner Bros. Discovery presently has an average rating of “Hold” and a consensus price target of $11.56.

Insider Buying and Selling

In related news, insider Savalle Sims sold 169,436 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $12.36, for a total transaction of $2,094,228.96. Following the completion of the transaction, the insider now directly owns 599,317 shares in the company, valued at $7,407,558.12. This trade represents a 22.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.80% of the stock is currently owned by corporate insiders.

Warner Bros. Discovery Stock Performance

Shares of Warner Bros. Discovery stock opened at $9.73 on Wednesday. The firm has a market cap of $23.87 billion, a PE ratio of -2.12 and a beta of 1.52. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $12.70. The business’s fifty day simple moving average is $10.33 and its 200-day simple moving average is $8.69.

Warner Bros. Discovery (NASDAQ:WBD) last posted its earnings results on Thursday, November 7th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.12. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The company had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.79 billion. During the same quarter in the prior year, the company posted ($0.17) earnings per share. Warner Bros. Discovery’s revenue for the quarter was down 3.6% compared to the same quarter last year. Equities analysts forecast that Warner Bros. Discovery, Inc. will post -4.37 earnings per share for the current 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.