IFP Advisors Inc Boosts Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

IFP Advisors Inc raised its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 124.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,714 shares of the company’s stock after acquiring an additional 32,592 shares during the quarter. IFP Advisors Inc’s holdings in Warner Bros. Discovery were worth $624,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in WBD. Wealthspire Advisors LLC grew its holdings in shares of Warner Bros. Discovery by 8.5% during the fourth quarter. Wealthspire Advisors LLC now owns 22,216 shares of the company’s stock worth $235,000 after buying an additional 1,749 shares in the last quarter. Fisher Funds Management LTD purchased a new stake in shares of Warner Bros. Discovery during the fourth quarter worth about $8,212,000. Deseret Mutual Benefit Administrators grew 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. Hudson Edge Investment Partners Inc. grew its holdings in shares of Warner Bros. Discovery by 8.3% during the fourth quarter. Hudson Edge Investment Partners Inc. now owns 520,449 shares of the company’s stock worth $5,501,000 after buying an additional 40,037 shares in the last quarter. Finally, Handelsbanken Fonder AB grew its holdings in shares of Warner Bros. Discovery by 62.4% during the fourth quarter. Handelsbanken Fonder AB now owns 589,484 shares of the company’s stock worth $6,231,000 after buying an additional 226,456 shares in the last quarter. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WBD has been the subject of a number of recent research reports. Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a report on Friday. Moffett Nathanson raised shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and raised their target price for the stock from $9.00 to $13.00 in a research report on Tuesday, January 21st. KeyCorp raised their target price on shares of Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. Rosenblatt Securities raised their target price on shares of Warner Bros. Discovery from $9.00 to $13.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. Finally, Raymond James raised their target price 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. Ten research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $11.75.

Warner Bros. Discovery Trading Up 4.2 %

Shares of WBD stock opened at $11.46 on Friday. The firm’s 50 day moving average price is $10.32 and its two-hundred day moving average price is $9.22. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.64 and a fifty-two week high of $12.70. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. The stock has a market cap of $28.11 billion, a price-to-earnings ratio of -2.50, a price-to-earnings-growth ratio of 8.64 and a beta of 1.49.

Warner Bros. Discovery (NASDAQ:WBD) last announced its earnings results on Thursday, February 27th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.30). The firm had revenue of $10.03 billion during the quarter, compared to analysts’ expectations of $10.16 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. On average, analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Insider Activity

In other news, insider Savalle Sims sold 169,436 shares of the company’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 transaction, the insider now directly owns 599,317 shares in the company, valued at approximately $7,407,558.12. This represents a 22.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.80% 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.