Sequoia Financial Advisors LLC Purchases 5,251 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Sequoia Financial Advisors LLC raised its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 9.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 61,378 shares of the company’s stock after purchasing an additional 5,251 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Warner Bros. Discovery were worth $649,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Golden State Equity Partners raised its holdings in Warner Bros. Discovery by 6.5% in the 4th quarter. Golden State Equity Partners now owns 16,124 shares of the company’s stock worth $170,000 after purchasing an additional 986 shares during the period. Deseret Mutual Benefit Administrators raised its stake in shares of Warner Bros. Discovery by 12.0% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 9,925 shares of the company’s stock worth $105,000 after buying an additional 1,066 shares during the period. Cornerstone Wealth Management LLC lifted its position in shares of Warner Bros. Discovery by 7.4% during the 4th quarter. Cornerstone Wealth Management LLC now owns 15,995 shares of the company’s stock valued at $169,000 after buying an additional 1,101 shares in the last quarter. Personal CFO Solutions LLC lifted its position in shares of Warner Bros. Discovery by 2.8% during the 4th quarter. Personal CFO Solutions LLC now owns 42,935 shares of the company’s stock valued at $454,000 after buying an additional 1,174 shares in the last quarter. Finally, Avestar Capital LLC increased its holdings in Warner Bros. Discovery by 9.4% in the 4th quarter. Avestar Capital LLC now owns 14,337 shares of the company’s stock worth $152,000 after acquiring an additional 1,228 shares in the last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Up 2.8 %

Shares of NASDAQ:WBD opened at $10.48 on Tuesday. The company has a 50-day moving average price of $10.36 and a 200 day moving average price of $9.49. The company has a current ratio of 0.80, a quick 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 company has a market cap of $25.73 billion, a price-to-earnings ratio of -2.29, a PEG ratio of 8.64 and a beta of 1.48.

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

Insider Buying and Selling at Warner Bros. Discovery

In other news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was acquired at an average price of $11.41 per share, with a total value of $197,917.86. Following the completion of the purchase, the director now directly owns 159,932 shares in the company, valued at approximately $1,824,824.12. This trade represents a 12.17 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Citigroup lifted their price target on shares of Warner Bros. Discovery from $13.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a report on Friday, February 28th. Guggenheim raised 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. upped their price objective on Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 14th. Finally, The Goldman Sachs Group lifted their target price on Warner Bros. Discovery from $9.50 to $10.75 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $11.91.

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.