Charles Schwab Investment Management Inc. Boosts Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Charles Schwab Investment Management Inc. grew its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 5.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,547,162 shares of the company’s stock after purchasing an additional 861,656 shares during the period. Charles Schwab Investment Management Inc. owned about 0.67% of Warner Bros. Discovery worth $174,904,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Stonebridge Financial Group LLC purchased a new position in shares of Warner Bros. Discovery during the fourth quarter worth approximately $26,000. SRS Capital Advisors Inc. increased its position in shares of Warner Bros. Discovery by 313.4% during the fourth quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company’s stock worth $27,000 after acquiring an additional 1,940 shares during the period. Sugar Maple Asset Management LLC purchased a new position in shares of Warner Bros. Discovery during the fourth quarter valued at $33,000. New Wave Wealth Advisors LLC purchased a new position in shares of Warner Bros. Discovery during the fourth quarter valued at $37,000. Finally, Larson Financial Group LLC raised its holdings in shares of Warner Bros. Discovery by 54.1% in the third quarter. Larson Financial Group LLC now owns 4,998 shares of the company’s stock valued at $41,000 after acquiring an additional 1,754 shares in the last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Analysts Set New Price Targets

WBD has been the topic of a number of research reports. Needham & Company LLC reissued a “hold” rating on shares of Warner Bros. Discovery in a research report on Friday, February 28th. KeyCorp lifted their price objective on shares of Warner Bros. Discovery from $11.00 to $14.00 and gave the company an “overweight” rating in a report on Tuesday, December 10th. 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. Moffett Nathanson raised Warner Bros. Discovery from a “neutral” rating to a “buy” rating and increased their target price for the company from $9.00 to $13.00 in a research report on Tuesday, January 21st. Finally, Barrington Research reaffirmed an “outperform” rating and set a $16.00 target price on shares of Warner Bros. Discovery in a research report on Wednesday. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Warner Bros. Discovery presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.91.

Warner Bros. Discovery Stock Up 3.5 %

NASDAQ:WBD opened at $11.07 on Friday. The company has a market cap of $27.16 billion, a PE ratio of -2.42, a P/E/G ratio of 8.64 and a beta of 1.48. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve 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. The company’s 50 day moving average is $10.38 and its two-hundred day moving average is $9.36.

Warner Bros. Discovery (NASDAQ:WBD) last released 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 company had revenue of $10.03 billion for the quarter, compared to analysts’ expectations of $10.16 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. Analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Insider Buying and Selling at Warner Bros. Discovery

In other Warner Bros. Discovery news, insider Savalle Sims sold 169,436 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $12.36, for a total transaction of $2,094,228.96. Following the sale, the insider now owns 599,317 shares in the company, valued at approximately $7,407,558.12. The trade was a 22.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Piazza Samuel A. Jr. Di purchased 17,346 shares of the company’s stock in a transaction on 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 purchase, the director now owns 159,932 shares in the company, valued at approximately $1,824,824.12. The trade was a 12.17 % increase in their position. The disclosure for this purchase can be found here. Company 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.