Orion Portfolio Solutions LLC Purchases 2,905 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Orion Portfolio Solutions LLC boosted its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 13.4% during the 3rd quarter, Holdings Channel.com reports. The fund owned 24,644 shares of the company’s stock after buying an additional 2,905 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Warner Bros. Discovery were worth $203,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp boosted its stake in shares of Warner Bros. Discovery by 4.1% in the 3rd quarter. State Street Corp now owns 151,285,963 shares of the company’s stock valued at $1,248,109,000 after purchasing an additional 5,898,611 shares during the last quarter. Sessa Capital IM L.P. boosted its stake in Warner Bros. Discovery by 24.7% in the third quarter. Sessa Capital IM L.P. now owns 28,410,428 shares of the company’s stock valued at $234,386,000 after acquiring an additional 5,625,545 shares during the last quarter. Mackenzie Financial Corp grew its holdings in Warner Bros. Discovery by 1,216.7% during the 2nd quarter. Mackenzie Financial Corp now owns 3,009,558 shares of the company’s stock worth $22,391,000 after acquiring an additional 2,780,986 shares during the period. Drexel Morgan & Co. raised its position in shares of Warner Bros. Discovery by 43.5% during the 3rd quarter. Drexel Morgan & Co. now owns 6,600,463 shares of the company’s stock valued at $54,454,000 after acquiring an additional 2,000,000 shares during the last quarter. Finally, Clifford Capital Partners LLC bought a new position in shares of Warner Bros. Discovery in the 2nd quarter worth $14,760,000. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Savalle Sims sold 169,436 shares of the firm’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 of the company’s stock, valued at $7,407,558.12. This trade represents a 22.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.80% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on WBD shares. Benchmark reiterated a “buy” rating and issued a $18.00 price objective on shares of Warner Bros. Discovery in a report on Friday, September 13th. Raymond James lifted their target price on Warner Bros. Discovery from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Macquarie increased their price target on Warner Bros. Discovery from $8.00 to $9.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. The Goldman Sachs Group lifted their price objective on Warner Bros. Discovery from $9.50 to $10.75 and gave the company a “neutral” rating in a report on Thursday. Finally, Barrington Research reissued an “outperform” rating and set a $16.00 target price on shares of Warner Bros. Discovery in a research note on Friday, December 13th. Twelve research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Warner Bros. Discovery currently has an average rating of “Hold” and a consensus price target of $11.44.

Warner Bros. Discovery Stock Up 1.9 %

NASDAQ:WBD opened at $10.69 on Friday. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $12.70. The firm has a market capitalization of $26.22 billion, a price-to-earnings ratio of -2.33 and a beta of 1.52. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. The stock’s 50 day moving average price is $9.44 and its two-hundred day moving average price is $8.34.

Warner Bros. Discovery (NASDAQ:WBD) last issued its earnings results on Thursday, November 7th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.12. The business had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.79 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period in the previous year, the company earned ($0.17) earnings per share. Equities research analysts expect that Warner Bros. Discovery, Inc. will post -4.37 earnings per share for the current fiscal year.

Warner Bros. Discovery Company 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.