Stone Wealth Partners Buys New Stake in Warner Bros. Discovery, Inc. $WBD

Stone Wealth Partners purchased a new position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 42,888 shares of the company’s stock, valued at approximately $1,236,000. Warner Bros. Discovery makes up about 1.1% of Stone Wealth Partners’ holdings, making the stock its 25th largest holding.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Warner Bros. Discovery in the fourth quarter worth about $1,123,807,000. Jericho Capital Asset Management L.P. boosted its stake in shares of Warner Bros. Discovery by 108.9% during the 3rd quarter. Jericho Capital Asset Management L.P. now owns 35,095,390 shares of the company’s stock worth $685,413,000 after acquiring an additional 18,291,865 shares in the last quarter. Duquesne Family Office LLC acquired a new stake in shares of Warner Bros. Discovery during the 2nd quarter valued at about $74,916,000. Amundi grew its position in shares of Warner Bros. Discovery by 59.6% during the 3rd quarter. Amundi now owns 15,523,538 shares of the company’s stock valued at $296,189,000 after acquiring an additional 5,798,592 shares during the period. Finally, Marshall Wace LLP purchased a new position in shares of Warner Bros. Discovery in the 3rd quarter valued at about $100,135,000. Institutional investors and hedge funds own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Down 0.2%

WBD opened at $26.20 on Friday. The company has a market cap of $65.69 billion, a PE ratio of -37.43 and a beta of 1.54. Warner Bros. Discovery, Inc. has a twelve month low of $10.27 and a twelve month high of $30.00. The company has a 50-day moving average price of $27.05 and a 200 day moving average price of $27.64. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.92.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($1.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($1.07). Warner Bros. Discovery had a negative return on equity of 4.77% and a negative net margin of 4.67%.The firm had revenue of $8.89 billion during the quarter, compared to analyst estimates of $8.89 billion. During the same quarter in the previous year, the firm posted ($0.18) earnings per share. The company’s quarterly revenue was down 1.0% on a year-over-year basis. Sell-side analysts expect that Warner Bros. Discovery, Inc. will post -1.07 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

WBD has been the subject of a number of analyst reports. Arete Research reaffirmed a “neutral” rating and issued a $31.25 price target on shares of Warner Bros. Discovery in a report on Friday, February 27th. TD Cowen raised their price objective on Warner Bros. Discovery from $22.00 to $26.00 and gave the company a “hold” rating in a report on Friday, February 27th. Zacks Research upgraded Warner Bros. Discovery from a “strong sell” rating to a “hold” rating in a research report on Monday, June 1st. Deutsche Bank Aktiengesellschaft downgraded Warner Bros. Discovery from a “buy” rating to a “hold” rating and upped their target price for the stock from $29.50 to $31.00 in a research note on Friday, February 27th. Finally, Sanford C. Bernstein increased their target price on Warner Bros. Discovery from $23.50 to $27.75 and gave the company a “market perform” rating in a research report on Tuesday, February 24th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $27.04.

Warner Bros. Discovery Company 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.