Cerity Partners LLC Has $2.60 Million Stock Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Cerity Partners LLC raised its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 17.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 246,205 shares of the company’s stock after purchasing an additional 36,101 shares during the period. Cerity Partners LLC’s holdings in Warner Bros. Discovery were worth $2,602,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. FMR LLC grew its stake in shares of Warner Bros. Discovery by 478.5% in the fourth quarter. FMR LLC now owns 14,278,600 shares of the company’s stock valued at $150,925,000 after acquiring an additional 11,810,191 shares in the last quarter. Federated Hermes Inc. grew its position in shares of Warner Bros. Discovery by 5.2% during the 4th quarter. Federated Hermes Inc. now owns 32,118 shares of the company’s stock worth $339,000 after purchasing an additional 1,598 shares in the last quarter. Aster Capital Management DIFC Ltd increased its holdings in shares of Warner Bros. Discovery by 150.2% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 4,979 shares of the company’s stock worth $53,000 after purchasing an additional 2,989 shares during the period. Wedbush Securities Inc. raised its position in shares of Warner Bros. Discovery by 12.1% in the fourth quarter. Wedbush Securities Inc. now owns 24,310 shares of the company’s stock valued at $257,000 after buying an additional 2,620 shares in the last quarter. Finally, Aviva PLC boosted its stake in shares of Warner Bros. Discovery by 1,421.8% in the fourth quarter. Aviva PLC now owns 1,408,258 shares of the company’s stock valued at $14,885,000 after buying an additional 1,315,719 shares during the period. 59.95% of the stock is owned by institutional investors.

Warner Bros. Discovery Trading Up 2.9 %

NASDAQ WBD opened at $8.25 on Wednesday. The business’s 50-day moving average price is $10.13 and its two-hundred day moving average price is $9.75. 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 firm has a market capitalization of $20.25 billion, a PE ratio of -1.80, a price-to-earnings-growth ratio of 8.64 and a beta of 1.43. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings data 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). Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The firm had revenue of $10.03 billion for the quarter, compared to analyst estimates of $10.16 billion. On average, analysts expect that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Analysts Set New Price Targets

WBD has been the subject of several analyst reports. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $13.00 price objective on shares of Warner Bros. Discovery in a report on Friday, March 7th. Barclays dropped their price target on Warner Bros. Discovery from $12.00 to $7.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 8th. Needham & Company LLC reissued a “hold” rating on shares of Warner Bros. Discovery in a report on Friday, February 28th. Citigroup boosted their target price on shares of Warner Bros. Discovery from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. Finally, Benchmark restated a “buy” rating and set a $18.00 price objective on shares of Warner Bros. Discovery in a research report on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Warner Bros. Discovery has an average rating of “Moderate Buy” and an average target price of $11.66.

Insider Transactions at Warner Bros. Discovery

In related news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of Warner Bros. Discovery stock in a transaction dated Monday, March 3rd. The stock was bought at an average price of $11.41 per share, with a total value of $197,917.86. Following the transaction, the director now directly owns 159,932 shares in the company, valued at $1,824,824.12. This represents a 12.17 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Corporate 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.