Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Bought by Everence Capital Management Inc.

Everence Capital Management Inc. raised its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 106.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 57,457 shares of the company’s stock after purchasing an additional 29,660 shares during the quarter. Everence Capital Management Inc.’s holdings in Warner Bros. Discovery were worth $654,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Providence Capital Advisors LLC lifted its position in Warner Bros. Discovery by 1,410.1% in the first quarter. Providence Capital Advisors LLC now owns 2,099 shares of the company’s stock valued at $139,000 after buying an additional 1,960 shares during the last quarter. KB Financial Partners LLC purchased a new stake in Warner Bros. Discovery during the first quarter worth about $32,000. Fortis Group Advisors LLC purchased a new stake in Warner Bros. Discovery during the third quarter worth about $25,000. Pacifica Partners Inc. increased its stake in Warner Bros. Discovery by 118.2% during the fourth quarter. Pacifica Partners Inc. now owns 2,483 shares of the company’s stock worth $27,000 after purchasing an additional 1,345 shares during the period. Finally, Peoples Bank KS purchased a new stake in Warner Bros. Discovery during the third quarter worth about $27,000. Institutional investors and hedge funds own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Up 1.1 %

WBD stock opened at $8.23 on Thursday. Warner Bros. Discovery, Inc. has a twelve month low of $8.02 and a twelve month high of $14.76. The business has a 50 day simple moving average of $8.82 and a 200-day simple moving average of $10.07. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.93 and a quick ratio of 0.93.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings results on Friday, February 23rd. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.05). Warner Bros. Discovery had a negative return on equity of 3.48% and a negative net margin of 7.57%. The company had revenue of $10.28 billion for the quarter, compared to analyst estimates of $10.34 billion. During the same period in the prior year, the business earned $0.42 earnings per share. Warner Bros. Discovery’s revenue for the quarter was down 6.6% compared to the same quarter last year. As a group, equities analysts expect that Warner Bros. Discovery, Inc. will post -0.35 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have issued reports on WBD. Wells Fargo & Company lowered shares of Warner Bros. Discovery from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $16.00 to $12.00 in a research note on Monday, January 29th. Barclays cut their target price on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 29th. Rosenblatt Securities upgraded shares of Warner Bros. Discovery from a “sell” rating to a “neutral” rating and upped their target price for the stock from $7.00 to $10.00 in a research note on Thursday, March 21st. Redburn Atlantic lowered shares of Warner Bros. Discovery from a “buy” rating to a “neutral” rating and set a $11.00 target price on the stock. in a research note on Thursday, January 11th. Finally, Macquarie cut their target price on shares of Warner Bros. Discovery from $16.00 to $14.00 and set an “outperform” rating on the stock in a research note on Monday, January 22nd. Eight equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $14.24.

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.