Prestige Wealth Management Group LLC Has $532,000 Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Prestige Wealth Management Group LLC raised its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 9.0% during the 4th quarter, HoldingsChannel reports. The fund owned 50,360 shares of the company’s stock after purchasing an additional 4,154 shares during the period. Prestige Wealth Management Group LLC’s holdings in Warner Bros. Discovery were worth $532,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in WBD. Prudential Financial Inc. increased its stake in Warner Bros. Discovery by 30.3% in the 4th quarter. Prudential Financial Inc. now owns 3,297,747 shares of the company’s stock valued at $34,857,000 after buying an additional 766,504 shares during the period. Corebridge Financial Inc. grew its holdings in shares of Warner Bros. Discovery by 4.6% during the 4th quarter. Corebridge Financial Inc. now owns 828,015 shares of the company’s stock valued at $8,752,000 after acquiring an additional 36,721 shares in the last quarter. Congress Wealth Management LLC DE acquired a new position in shares of Warner Bros. Discovery in the fourth quarter worth $114,000. Vanguard Group Inc. raised its holdings in shares of Warner Bros. Discovery by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 252,650,791 shares of the company’s stock worth $2,670,519,000 after acquiring an additional 1,658,415 shares in the last quarter. Finally, LPL Financial LLC boosted its position in Warner Bros. Discovery by 22.3% during the fourth quarter. LPL Financial LLC now owns 994,319 shares of the company’s stock valued at $10,510,000 after purchasing an additional 181,176 shares during the last quarter. Institutional investors and hedge funds own 59.95% of the company’s stock.

Insider Activity

In other Warner Bros. Discovery 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 cost of $11.41 per share, with a total value of $197,917.86. Following the acquisition, the director now owns 159,932 shares of the company’s stock, valued at approximately $1,824,824.12. The trade was a 12.17 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.80% of the stock is currently owned by company insiders.

Warner Bros. Discovery Stock Performance

NASDAQ WBD opened at $10.97 on Tuesday. The company’s fifty day moving average is $10.42 and its two-hundred day moving average is $9.62. The firm has a market capitalization of $26.93 billion, a price-to-earnings ratio of -2.40, a P/E/G ratio of 8.64 and a beta of 1.48. 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 52-week low of $6.64 and a 52-week high of $12.70.

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 analysts’ consensus estimates of $0.10 by ($0.30). The firm had revenue of $10.03 billion for the quarter, compared to analyst estimates of $10.16 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. Equities research analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on WBD shares. Citigroup upped their target price on Warner Bros. Discovery from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. Benchmark restated a “buy” rating and issued a $18.00 price objective on shares of Warner Bros. Discovery in a report on Wednesday, February 26th. Moffett Nathanson upgraded shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and lifted their target price for the company from $9.00 to $13.00 in a research note on Tuesday, January 21st. The Goldman Sachs Group boosted 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 report on Thursday, December 19th. Finally, KeyCorp raised their price target 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. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $11.91.

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.