SageView Advisory Group LLC Acquires Shares of 11,370 Warner Bros. Discovery, Inc. (NASDAQ:WBD)

SageView Advisory Group LLC acquired a new stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 11,370 shares of the company’s stock, valued at approximately $129,000.

Other large investors have also bought and sold shares of the company. The Manufacturers Life Insurance Company raised its stake in shares of Warner Bros. Discovery by 17.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 25,534,218 shares of the company’s stock worth $290,579,000 after purchasing an additional 3,710,343 shares during the period. Northern Trust Corp raised its stake in shares of Warner Bros. Discovery by 2.6% during the 3rd quarter. Northern Trust Corp now owns 20,873,998 shares of the company’s stock worth $226,692,000 after purchasing an additional 524,965 shares during the period. Norges Bank bought a new stake in shares of Warner Bros. Discovery during the 4th quarter worth $198,916,000. Boston Partners raised its stake in shares of Warner Bros. Discovery by 9.9% during the 4th quarter. Boston Partners now owns 15,640,771 shares of the company’s stock worth $177,384,000 after purchasing an additional 1,414,952 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Warner Bros. Discovery by 4.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,672,632 shares of the company’s stock worth $155,594,000 after purchasing an additional 575,123 shares during the period. 59.95% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on WBD. KeyCorp raised Warner Bros. Discovery from a “sector weight” rating to an “overweight” rating and set a $11.00 price objective for the company in a report on Friday, May 10th. Citigroup decreased their price objective on Warner Bros. Discovery from $16.00 to $14.00 and set a “buy” rating for the company in a report on Thursday, February 29th. Needham & Company LLC reissued a “hold” rating on shares of Warner Bros. Discovery in a report on Friday, May 10th. Benchmark reissued a “buy” rating and issued a $20.00 price objective on shares of Warner Bros. Discovery in a report on Monday, June 17th. Finally, Morgan Stanley decreased their price objective on Warner Bros. Discovery from $14.00 to $10.00 and set an “equal weight” rating for the company in a report on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $13.16.

Warner Bros. Discovery Stock Performance

Shares of WBD opened at $7.18 on Friday. The company has a market cap of $17.59 billion, a PE ratio of -5.79 and a beta of 1.53. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.87. The stock has a 50-day moving average price of $7.95 and a 200-day moving average price of $9.24. Warner Bros. Discovery, Inc. has a 12-month low of $6.94 and a 12-month high of $14.76.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.16). The business had revenue of $9.96 billion for the quarter, compared to the consensus estimate of $10.22 billion. Warner Bros. Discovery had a negative net margin of 7.45% and a negative return on equity of 6.58%. The business’s revenue was down 6.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.18 EPS. As a group, equities analysts forecast that Warner Bros. Discovery, Inc. will post -0.38 earnings per share for the current fiscal year.

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.