Empirical Asset Management LLC Acquires Shares of 88,799 Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Empirical Asset Management LLC bought a new position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 88,799 shares of the company’s stock, valued at approximately $939,000.

Other institutional investors also recently modified their holdings of the company. Rosenberg Matthew Hamilton increased its holdings in Warner Bros. Discovery by 448.3% in the fourth quarter. Rosenberg Matthew Hamilton now owns 4,578 shares of the company’s stock worth $48,000 after buying an additional 3,743 shares during the last quarter. Larson Financial Group LLC increased its stake in shares of Warner Bros. Discovery by 54.1% during the 3rd quarter. Larson Financial Group LLC now owns 4,998 shares of the company’s stock worth $41,000 after purchasing an additional 1,754 shares during the last quarter. Future Financial Wealth Managment LLC bought a new position in shares of Warner Bros. Discovery during the 3rd quarter valued at $41,000. Brooklyn Investment Group acquired a new stake in shares of Warner Bros. Discovery in the 3rd quarter valued at $51,000. Finally, Quarry LP boosted its holdings in Warner Bros. Discovery by 2,185.1% in the second quarter. Quarry LP now owns 6,307 shares of the company’s stock worth $47,000 after purchasing an additional 6,031 shares in the last quarter. Institutional investors and hedge funds own 59.95% of the company’s stock.

Insiders Place Their Bets

In other Warner Bros. Discovery news, insider Savalle Sims sold 169,436 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $12.36, for a total value of $2,094,228.96. Following the transaction, the insider now directly owns 599,317 shares in the company, valued at $7,407,558.12. The trade was a 22.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.80% of the company’s stock.

Warner Bros. Discovery Trading Up 0.5 %

Shares of WBD stock opened at $9.52 on Friday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a fifty day moving average of $10.37 and a 200-day moving average of $8.73. Warner Bros. Discovery, Inc. has a 52-week low of $6.64 and a 52-week high of $12.70. The stock has a market cap of $23.35 billion, a price-to-earnings ratio of -2.08, a P/E/G ratio of 9.12 and a beta of 1.50.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.12. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The firm had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.79 billion. During the same quarter last year, the company earned ($0.17) earnings per share. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. On average, equities research analysts forecast that Warner Bros. Discovery, Inc. will post -4.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

WBD has been the subject of a number of analyst reports. Bank of America reaffirmed a “buy” rating and issued a $14.00 price target on shares of Warner Bros. Discovery in a research report on Thursday, December 12th. Guggenheim increased their price target on Warner Bros. Discovery from $11.00 to $12.50 and gave the company a “buy” rating in a report on Thursday, December 12th. JPMorgan Chase & Co. lifted their price target on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Tuesday, January 14th. Raymond James upped their price objective on shares of Warner Bros. Discovery from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Finally, The Goldman Sachs Group lifted their target price on shares of Warner Bros. Discovery from $9.50 to $10.75 and gave the stock a “neutral” rating in a report on Thursday, December 19th. Eleven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Warner Bros. Discovery presently has an average rating of “Hold” and an average target price of $11.56.

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.