QRG Capital Management Inc. Increases Stock Position in Warner Bros. Discovery, Inc. $WBD

QRG Capital Management Inc. boosted its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 864.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 248,322 shares of the company’s stock after acquiring an additional 222,580 shares during the quarter. QRG Capital Management Inc.’s holdings in Warner Bros. Discovery were worth $7,157,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in WBD. JFS Wealth Advisors LLC raised its stake in shares of Warner Bros. Discovery by 12.4% in the fourth quarter. JFS Wealth Advisors LLC now owns 3,425 shares of the company’s stock worth $99,000 after purchasing an additional 378 shares during the last quarter. Salomon & Ludwin LLC boosted its position in shares of Warner Bros. Discovery by 20.2% during the fourth quarter. Salomon & Ludwin LLC now owns 2,494 shares of the company’s stock valued at $71,000 after buying an additional 419 shares during the last quarter. Optas LLC increased its holdings in Warner Bros. Discovery by 3.0% in the 4th quarter. Optas LLC now owns 15,120 shares of the company’s stock worth $436,000 after buying an additional 435 shares in the last quarter. Armstrong Advisory Group Inc. raised its position in Warner Bros. Discovery by 7.7% in the 4th quarter. Armstrong Advisory Group Inc. now owns 6,095 shares of the company’s stock worth $176,000 after buying an additional 436 shares during the last quarter. Finally, Concord Wealth Partners raised its position in Warner Bros. Discovery by 49.9% in the 3rd quarter. Concord Wealth Partners now owns 1,321 shares of the company’s stock worth $26,000 after buying an additional 440 shares during the last quarter. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Warner Bros. Discovery Trading Up 1.0%

Warner Bros. Discovery stock opened at $27.22 on Wednesday. Warner Bros. Discovery, Inc. has a 52-week low of $8.06 and a 52-week high of $30.00. The company has a market cap of $68.24 billion, a P/E ratio of 93.88 and a beta of 1.57. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.87. The business has a 50-day simple moving average of $27.56 and a two-hundred day simple moving average of $26.53.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings data on Thursday, February 26th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.19). The business had revenue of $9.46 billion during the quarter, compared to analysts’ expectations of $9.33 billion. Warner Bros. Discovery had a return on equity of 1.98% and a net margin of 1.95%.The business’s quarterly revenue was down 5.7% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.20) EPS. Analysts predict that Warner Bros. Discovery, Inc. will post -0.14 EPS for the current year.

Insider Buying and Selling at Warner Bros. Discovery

In related news, CFO Gunnar Wiedenfels sold 617,580 shares of the firm’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $28.25, for a total value of $17,446,635.00. Following the transaction, the chief financial officer directly owned 691,570 shares of the company’s stock, valued at approximately $19,536,852.50. This trade represents a 47.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gerhard Zeiler sold 600,000 shares of Warner Bros. Discovery stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $28.02, for a total value of $16,812,000.00. Following the transaction, the insider owned 672,649 shares in the company, valued at $18,847,624.98. This trade represents a 47.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 8,206,827 shares of company stock worth $230,674,025. Insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on WBD. Wells Fargo & Company started coverage on shares of Warner Bros. Discovery in a report on Monday, March 9th. They set an “equal weight” rating and a $31.00 price target on the stock. Benchmark reissued a “hold” rating on shares of Warner Bros. Discovery in a report on Friday, February 27th. TD Cowen raised their target price on shares of Warner Bros. Discovery from $22.00 to $26.00 and gave the stock a “hold” rating in a report on Friday, February 27th. Sanford C. Bernstein lifted their target price on shares of Warner Bros. Discovery from $23.50 to $27.75 and gave the stock a “market perform” rating in a research report on Tuesday, February 24th. Finally, Rothschild & Co Redburn set a $31.00 target price on shares of Warner Bros. Discovery and gave the company a “neutral” rating in a research note on Tuesday, February 17th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, thirteen have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Warner Bros. Discovery currently has an average rating of “Hold” and a consensus price target of $26.30.

Warner Bros. Discovery Profile

Warner Bros. Discovery (NASDAQ: WBD) is a global media and entertainment company formed when WarnerMedia and Discovery, Inc combined their businesses in 2022. Headquartered in New York City, the company assembles a broad portfolio of film and television production, linear and cable networks, streaming services and consumer distribution operations. Its assets span well-known studio brands, premium scripted and unscripted programming, news and factual entertainment, and licensed franchise properties.

The company’s core activities include film and television production and distribution through units such as Warner Bros.