Vident Advisory LLC Purchases 7,875 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Vident Advisory LLC lifted its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 59.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,088 shares of the company’s stock after acquiring an additional 7,875 shares during the quarter. Vident Advisory LLC’s holdings in Warner Bros. Discovery were worth $223,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Colonial Trust Advisors boosted its position in Warner Bros. Discovery by 71.8% during the fourth quarter. Colonial Trust Advisors now owns 2,383 shares of the company’s stock valued at $25,000 after purchasing an additional 996 shares in the last quarter. Stonebridge Financial Group LLC purchased a new position in Warner Bros. Discovery during the fourth quarter valued at approximately $26,000. SRS Capital Advisors Inc. increased its position in shares of Warner Bros. Discovery by 313.4% in the fourth quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company’s stock valued at $27,000 after buying an additional 1,940 shares in the last quarter. Graney & King LLC purchased a new stake in shares of Warner Bros. Discovery in the fourth quarter valued at approximately $28,000. Finally, Ethos Financial Group LLC acquired a new stake in shares of Warner Bros. Discovery in the fourth quarter worth approximately $29,000. Institutional investors own 59.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on WBD shares. Wells Fargo & Company upped their price target on Warner Bros. Discovery from $9.00 to $10.00 and gave the company an “equal weight” rating in a research note on Friday, May 9th. Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a report on Friday, February 28th. Barclays raised their price target on Warner Bros. Discovery from $7.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Friday, May 9th. Citigroup decreased their price objective on Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Morgan Stanley dropped their price objective on Warner Bros. Discovery from $12.00 to $10.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 6th. Eleven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $12.17.

Warner Bros. Discovery Trading Up 0.2%

NASDAQ:WBD opened at $10.04 on Friday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. The company’s 50-day simple moving average is $8.96 and its 200 day simple moving average is $9.93. Warner Bros. Discovery, Inc. has a one year low of $6.64 and a one year high of $12.70. The firm has a market capitalization of $24.65 billion, a P/E ratio of -2.19, a PEG ratio of 8.64 and a beta of 1.46.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.06). The company had revenue of $8.98 billion for the quarter, compared to the consensus estimate of $9.66 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The firm’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same quarter last year, the company earned ($0.40) EPS. As a group, analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Insiders Place Their Bets

In other Warner Bros. Discovery news, Director Piazza Samuel A. Jr. Di purchased 17,346 shares of Warner Bros. Discovery stock in a transaction dated Monday, March 3rd. The stock was acquired at an average price of $11.41 per share, for a total transaction of $197,917.86. Following the acquisition, the director now owns 159,932 shares in the company, valued at $1,824,824.12. This trade represents a 12.17% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.90% of the company’s stock.

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.