Warner Bros. Discovery, Inc. (NASDAQ:WBD) Holdings Boosted by Perigon Wealth Management LLC

Perigon Wealth Management LLC boosted its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 21.1% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,541 shares of the company’s stock after purchasing an additional 3,231 shares during the period. Perigon Wealth Management LLC’s holdings in Warner Bros. Discovery were worth $196,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of WBD. Sugar Maple Asset Management LLC bought a new position in shares of Warner Bros. Discovery during the 4th quarter worth about $33,000. Future Financial Wealth Managment LLC bought a new stake in shares of Warner Bros. Discovery during the third quarter valued at approximately $41,000. Larson Financial Group LLC raised its holdings in Warner Bros. Discovery by 54.1% during the 3rd quarter. Larson Financial Group LLC now owns 4,998 shares of the company’s stock worth $41,000 after purchasing an additional 1,754 shares during the last quarter. Rosenberg Matthew Hamilton raised its position in shares of Warner Bros. Discovery by 448.3% during the 4th quarter. Rosenberg Matthew Hamilton now owns 4,578 shares of the company’s stock valued at $48,000 after acquiring an additional 3,743 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new position in Warner Bros. Discovery in the third quarter valued at about $51,000. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Savalle Sims sold 169,436 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $12.36, for a total value of $2,094,228.96. Following the completion of the sale, the insider now directly owns 599,317 shares in the company, valued at approximately $7,407,558.12. The trade was a 22.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on WBD. Barrington Research reiterated an “outperform” rating and set a $16.00 target price on shares of Warner Bros. Discovery in a report on Friday, December 13th. Raymond James raised their price objective on shares of Warner Bros. Discovery from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Barclays lifted their price target on shares of Warner Bros. Discovery from $8.00 to $10.00 and gave the company an “equal weight” rating in a research report on Friday, November 8th. Wolfe Research raised shares of Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research note on Monday, November 11th. Finally, Moffett Nathanson upgraded shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and boosted their target price for the company from $9.00 to $13.00 in a report on Tuesday, January 21st. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Warner Bros. Discovery has a consensus rating of “Moderate Buy” and an average price target of $11.76.

Warner Bros. Discovery Stock Down 2.7 %

WBD stock opened at $10.16 on Tuesday. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70. The company’s 50 day simple moving average is $10.47 and its 200-day simple moving average is $8.94. The firm has a market capitalization of $24.92 billion, a PE ratio of -2.22, a P/E/G ratio of 6.36 and a beta of 1.49. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80.

Warner Bros. Discovery (NASDAQ:WBD) last issued 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 business had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.79 billion. During the same quarter last year, the firm posted ($0.17) EPS. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. Equities analysts expect that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

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.