Kovack Advisors Inc. Buys 40,779 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Kovack Advisors Inc. increased its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 135.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 70,962 shares of the company’s stock after purchasing an additional 40,779 shares during the quarter. Kovack Advisors Inc.’s holdings in Warner Bros. Discovery were worth $750,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in WBD. Stonebridge Financial Group LLC bought a new position in shares of Warner Bros. Discovery during the 4th quarter worth approximately $26,000. Sugar Maple Asset Management LLC acquired a new position in Warner Bros. Discovery during the fourth quarter worth $33,000. New Wave Wealth Advisors LLC bought a new position in Warner Bros. Discovery in the fourth quarter valued at $37,000. Larson Financial Group LLC increased its stake in Warner Bros. Discovery by 54.1% in the 3rd quarter. Larson Financial Group LLC now owns 4,998 shares of the company’s stock valued at $41,000 after buying an additional 1,754 shares during the last quarter. Finally, Rosenberg Matthew Hamilton increased its stake in Warner Bros. Discovery by 448.3% in the 4th quarter. Rosenberg Matthew Hamilton now owns 4,578 shares of the company’s stock valued at $48,000 after buying an additional 3,743 shares during the last quarter. Institutional investors own 59.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on WBD shares. Guggenheim raised their price objective on Warner Bros. Discovery from $11.00 to $12.50 and gave the company a “buy” rating in a report on Thursday, December 12th. Barclays raised their price target on Warner Bros. Discovery from $8.00 to $10.00 and gave the company an “equal weight” rating in a research note on Friday, November 8th. Raymond James upped their price objective on Warner Bros. Discovery from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Bank of America reissued a “buy” rating and issued a $14.00 target price on shares of Warner Bros. Discovery in a research note on Thursday, December 12th. Finally, KeyCorp boosted their target price on shares of Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Warner Bros. Discovery has an average rating of “Moderate Buy” and an average price target of $11.76.

Warner Bros. Discovery Trading Up 4.8 %

Shares of NASDAQ:WBD opened at $11.00 on Friday. The stock has a market cap of $26.98 billion, a PE ratio of -2.40, a P/E/G ratio of 8.64 and a beta of 1.49. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. Warner Bros. Discovery, Inc. has a 12-month low of $6.64 and a 12-month high of $12.70. The business has a 50 day moving average of $10.31 and a 200-day moving average of $9.20.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.30). The firm had revenue of $10.03 billion during the quarter, compared to the consensus estimate of $10.16 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. As a group, equities research analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Insider Activity at Warner Bros. Discovery

In related news, insider Savalle Sims sold 169,436 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $12.36, for a total value of $2,094,228.96. Following the completion of the sale, the insider now directly owns 599,317 shares in the company, valued at approximately $7,407,558.12. The trade was a 22.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 1.80% of the stock is currently owned by corporate insiders.

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.