American Century Companies Inc. Acquires 1,282,709 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

American Century Companies Inc. increased its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 249.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,797,336 shares of the company’s stock after buying an additional 1,282,709 shares during the period. American Century Companies Inc. owned about 0.07% of Warner Bros. Discovery worth $18,998,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Golden State Equity Partners lifted its stake in shares of Warner Bros. Discovery by 6.5% during the 4th quarter. Golden State Equity Partners now owns 16,124 shares of the company’s stock worth $170,000 after purchasing an additional 986 shares during the last quarter. Deseret Mutual Benefit Administrators raised its holdings in Warner Bros. Discovery by 12.0% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 9,925 shares of the company’s stock worth $105,000 after purchasing an additional 1,066 shares in the last quarter. Cornerstone Wealth Management LLC lifted its position 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 valued at $169,000 after buying an additional 1,101 shares during the last quarter. Personal CFO Solutions LLC boosted its holdings in shares of Warner Bros. Discovery by 2.8% in the 4th quarter. Personal CFO Solutions LLC now owns 42,935 shares of the company’s stock valued at $454,000 after buying an additional 1,174 shares in the last quarter. Finally, Avestar Capital LLC grew its position in shares of Warner Bros. Discovery by 9.4% in the 4th quarter. Avestar Capital LLC now owns 14,337 shares of the company’s stock worth $152,000 after buying an additional 1,228 shares during the last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Down 5.8 %

Shares of WBD opened at $10.37 on Monday. The company has a market capitalization of $25.46 billion, a price-to-earnings ratio of -2.26, a PEG ratio of 8.64 and a beta of 1.48. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $12.70. The stock’s 50-day moving average price is $10.52 and its 200-day moving average price is $9.72. 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 (NASDAQ:WBD) last released its quarterly earnings data 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 return on equity of 27.56% and a negative net margin of 28.34%. The company had revenue of $10.03 billion during the quarter, compared to analysts’ expectations of $10.16 billion. On average, sell-side analysts predict that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Analyst Ratings Changes

WBD has been the subject of several recent analyst reports. Benchmark restated a “buy” rating and issued a $18.00 target price on shares of Warner Bros. Discovery in a research note on Wednesday, February 26th. KeyCorp boosted their target price on Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 10th. Bank of America reiterated a “buy” rating and issued a $14.00 price target on shares of Warner Bros. Discovery in a research note on Thursday, December 12th. Rosenblatt Securities restated a “neutral” rating and set a $13.00 price target on shares of Warner Bros. Discovery in a research note on Friday, March 7th. Finally, Barclays increased their price objective on shares of Warner Bros. Discovery from $10.00 to $12.00 and gave the company an “equal weight” rating in a research report on Friday, February 28th. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, Warner Bros. Discovery has an average rating of “Moderate Buy” and an average price target of $11.91.

Insider Activity at Warner Bros. Discovery

In other Warner Bros. Discovery news, Director Piazza Samuel A. Jr. Di purchased 17,346 shares of the stock in a transaction on Monday, March 3rd. The shares were bought at an average price of $11.41 per share, for a total transaction of $197,917.86. Following the completion of the transaction, the director now owns 159,932 shares of the company’s stock, valued at $1,824,824.12. This trade represents a 12.17 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.80% of the stock is owned by company insiders.

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.