Cornerstone Wealth Management LLC Buys 1,101 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Cornerstone Wealth Management LLC grew its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 7.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,995 shares of the company’s stock after purchasing an additional 1,101 shares during the period. Cornerstone Wealth Management LLC’s holdings in Warner Bros. Discovery were worth $169,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. State Street Corp grew its position in shares of Warner Bros. Discovery by 4.1% in the 3rd quarter. State Street Corp now owns 151,285,963 shares of the company’s stock worth $1,248,109,000 after buying an additional 5,898,611 shares during the period. Sessa Capital IM L.P. boosted its stake in Warner Bros. Discovery by 24.7% during the third quarter. Sessa Capital IM L.P. now owns 28,410,428 shares of the company’s stock worth $234,386,000 after acquiring an additional 5,625,545 shares in the last quarter. EdgePoint Investment Group Inc. grew its holdings in Warner Bros. Discovery by 2.6% in the third quarter. EdgePoint Investment Group Inc. now owns 21,396,719 shares of the company’s stock worth $176,523,000 after purchasing an additional 541,192 shares during the period. Hotchkis & Wiley Capital Management LLC increased its stake in shares of Warner Bros. Discovery by 1.6% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 20,889,437 shares of the company’s stock valued at $172,338,000 after purchasing an additional 329,620 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Warner Bros. Discovery by 4.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 15,685,506 shares of the company’s stock valued at $129,405,000 after purchasing an additional 687,612 shares during the last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Insider Transactions at Warner Bros. Discovery

In related news, insider Savalle Sims sold 169,436 shares of the firm’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 of the company’s stock, valued at approximately $7,407,558.12. This trade represents a 22.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.80% of the company’s stock.

Warner Bros. Discovery Trading Down 0.3 %

WBD stock opened at $10.25 on Monday. 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, Inc. has a 1-year low of $6.64 and a 1-year high of $12.70. The business has a 50 day simple moving average of $10.42 and a two-hundred day simple moving average of $8.83. The company has a market capitalization of $25.14 billion, a price-to-earnings ratio of -2.24, a PEG ratio of 6.12 and a beta of 1.50.

Warner Bros. Discovery (NASDAQ:WBD) last issued its earnings results on Thursday, November 7th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.12. The firm had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.79 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. Warner Bros. Discovery’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.17) earnings per share. Research analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Moffett Nathanson raised Warner Bros. Discovery from a “neutral” rating to a “buy” rating and raised their price objective for the company from $9.00 to $13.00 in a research report on Tuesday, January 21st. Macquarie raised their price target on Warner Bros. Discovery from $8.00 to $9.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Guggenheim upped their price target on shares of Warner Bros. Discovery from $11.00 to $12.50 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Bank of America restated a “buy” rating and set a $14.00 price objective on shares of Warner Bros. Discovery in a research note on Thursday, December 12th. Finally, The Goldman Sachs Group upped their target price on shares of Warner Bros. Discovery from $9.50 to $10.75 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Warner Bros. Discovery currently has an average rating of “Moderate Buy” and a consensus price target of $11.76.

Warner Bros. Discovery 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.