TCI Wealth Advisors Inc. Invests $120,000 in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

TCI Wealth Advisors Inc. bought a new stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 10,535 shares of the company’s stock, valued at approximately $120,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Forum Financial Management LP lifted its position in shares of Warner Bros. Discovery by 2.3% during the 3rd quarter. Forum Financial Management LP now owns 42,179 shares of the company’s stock valued at $458,000 after acquiring an additional 948 shares during the last quarter. Bridgeworth LLC increased its holdings in shares of Warner Bros. Discovery by 7.4% in the 4th quarter. Bridgeworth LLC now owns 13,845 shares of the company’s stock valued at $158,000 after purchasing an additional 952 shares during the period. Czech National Bank lifted its position in shares of Warner Bros. Discovery by 0.3% in the fourth quarter. Czech National Bank now owns 388,660 shares of the company’s stock worth $4,423,000 after purchasing an additional 996 shares in the last quarter. Harbour Capital Advisors LLC boosted its stake in shares of Warner Bros. Discovery by 1.8% during the 4th quarter. Harbour Capital Advisors LLC now owns 56,833 shares of the company’s stock valued at $642,000 after buying an additional 1,025 shares during the period. Finally, Column Capital Advisors LLC increased its position in Warner Bros. Discovery by 26.7% in the 3rd quarter. Column Capital Advisors LLC now owns 5,049 shares of the company’s stock worth $55,000 after purchasing an additional 1,063 shares during the last quarter. Institutional investors own 59.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on WBD. Macquarie reduced their target price on shares of Warner Bros. Discovery from $16.00 to $14.00 and set an “outperform” rating for the company in a research note on Monday, January 22nd. Benchmark reiterated a “buy” rating and issued a $20.00 price objective on shares of Warner Bros. Discovery in a report on Monday, March 4th. Redburn Atlantic downgraded Warner Bros. Discovery from a “buy” rating to a “neutral” rating and set a $11.00 price target on the stock. in a research report on Thursday, January 11th. Citigroup decreased their target price on Warner Bros. Discovery from $16.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, February 29th. Finally, JPMorgan Chase & Co. dropped their price target on Warner Bros. Discovery from $13.00 to $10.00 and set a “neutral” rating on the stock in a research report on Monday, February 26th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $13.83.

Warner Bros. Discovery Price Performance

Shares of WBD traded down $0.04 on Monday, reaching $7.93. 22,865,334 shares of the company’s stock were exchanged, compared to its average volume of 27,300,740. The business has a 50 day moving average price of $8.45 and a two-hundred day moving average price of $9.87. Warner Bros. Discovery, Inc. has a 12 month low of $7.34 and a 12 month high of $14.76. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.90.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings results on Friday, February 23rd. The company reported ($0.16) earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $10.34 billion. During the same quarter in the prior year, the business earned $0.42 earnings per share. The firm’s revenue for the quarter was down 6.6% on a year-over-year basis. Research analysts expect that Warner Bros. Discovery, Inc. will post -0.35 earnings per share for the current 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.