Proficio Capital Partners LLC Acquires Shares of 75,100 Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Proficio Capital Partners LLC acquired a new stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 75,100 shares of the company’s stock, valued at approximately $794,000.

Several other institutional investors have also added to or reduced their stakes in the company. Golden State Equity Partners raised its position in Warner Bros. Discovery by 6.5% during the fourth quarter. Golden State Equity Partners now owns 16,124 shares of the company’s stock valued at $170,000 after purchasing an additional 986 shares in the last quarter. Deseret Mutual Benefit Administrators increased its holdings in shares of Warner Bros. Discovery by 12.0% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 9,925 shares of the company’s stock worth $105,000 after buying an additional 1,066 shares in the last quarter. Cornerstone Wealth Management LLC increased its holdings in shares of Warner Bros. Discovery by 7.4% during the fourth quarter. Cornerstone Wealth Management LLC now owns 15,995 shares of the company’s stock worth $169,000 after buying an additional 1,101 shares in the last quarter. Avestar Capital LLC increased its holdings in shares of Warner Bros. Discovery by 9.4% during the fourth quarter. Avestar Capital LLC now owns 14,337 shares of the company’s stock worth $152,000 after buying an additional 1,228 shares in the last quarter. Finally, Commerce Bank increased its holdings in shares of Warner Bros. Discovery by 2.4% during the third quarter. Commerce Bank now owns 55,963 shares of the company’s stock worth $462,000 after buying an additional 1,286 shares in the last quarter. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WBD has been the subject of several research analyst reports. The Goldman Sachs Group upped their price target on shares of Warner Bros. Discovery from $9.50 to $10.75 and gave the stock a “neutral” rating in a report on Thursday, December 19th. Citigroup boosted 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 note on Wednesday, March 5th. KeyCorp boosted their price objective on shares of Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 10th. Benchmark reissued a “buy” rating and issued a $18.00 price objective on shares of Warner Bros. Discovery in a research note on Wednesday, February 26th. Finally, Moffett Nathanson raised shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and boosted 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 assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $11.91.

Insider Buying and Selling at Warner Bros. Discovery

In related news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of the stock in a transaction dated Monday, March 3rd. The shares were purchased at an average price of $11.41 per share, for a total transaction of $197,917.86. Following the transaction, the director now owns 159,932 shares in the company, valued at $1,824,824.12. This represents a 12.17 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.80% of the company’s stock.

Warner Bros. Discovery Stock Up 0.8 %

WBD opened at $10.74 on Friday. The company has a 50 day moving average of $10.40 and a 200 day moving average of $9.58. The company has a market cap of $26.36 billion, a PE ratio of -2.34, a price-to-earnings-growth ratio of 8.64 and a beta of 1.48. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of $0.10 by ($0.30). Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The firm had revenue of $10.03 billion during the quarter, compared to the consensus estimate of $10.16 billion. On average, sell-side analysts expect 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.