TCTC Holdings LLC Grows Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

TCTC Holdings LLC grew its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 18.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 8,156 shares of the company’s stock after acquiring an additional 1,250 shares during the quarter. TCTC Holdings LLC’s holdings in Warner Bros. Discovery were worth $86,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of WBD. Atria Investments Inc increased its stake in Warner Bros. Discovery by 31.9% in the third quarter. Atria Investments Inc now owns 98,062 shares of the company’s stock worth $809,000 after purchasing an additional 23,697 shares during the period. Versor Investments LP purchased a new stake in Warner Bros. Discovery in the third quarter worth $93,000. Apollon Wealth Management LLC increased its stake in Warner Bros. Discovery by 96.8% in the third quarter. Apollon Wealth Management LLC now owns 53,719 shares of the company’s stock worth $443,000 after purchasing an additional 26,421 shares during the period. OneDigital Investment Advisors LLC increased its stake in shares of Warner Bros. Discovery by 40.5% during the third quarter. OneDigital Investment Advisors LLC now owns 63,850 shares of the company’s stock valued at $527,000 after buying an additional 18,404 shares during the period. Finally, CIBC Asset Management Inc increased its stake in shares of Warner Bros. Discovery by 5.8% during the third quarter. CIBC Asset Management Inc now owns 735,025 shares of the company’s stock valued at $6,064,000 after buying an additional 40,211 shares during the period. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Insiders Place Their Bets

In other news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of Warner Bros. Discovery stock in a transaction dated Monday, March 3rd. The stock was purchased at an average cost of $11.41 per share, for a total transaction of $197,917.86. Following the completion of the purchase, the director now directly owns 159,932 shares in the company, valued at $1,824,824.12. This trade represents a 12.17 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

WBD has been the topic of several research reports. Guggenheim raised their price target on Warner Bros. Discovery from $11.00 to $12.50 and gave the company a “buy” rating in a research note on Thursday, December 12th. Benchmark restated a “buy” rating and set a $18.00 price target on shares of Warner Bros. Discovery in a research note on Wednesday, February 26th. Barrington Research restated an “outperform” rating and set a $16.00 price target on shares of Warner Bros. Discovery in a research note on Wednesday, March 5th. The Goldman Sachs Group raised their price target 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. Finally, Barclays raised their price target on Warner Bros. Discovery from $10.00 to $12.00 and gave the company an “equal weight” rating in a research note on Friday, February 28th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $11.91.

Warner Bros. Discovery Price Performance

Shares of NASDAQ WBD opened at $10.48 on Tuesday. 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 company has a market cap of $25.73 billion, a PE ratio of -2.29, a P/E/G ratio of 8.64 and a beta of 1.48. The business has a 50-day simple moving average of $10.36 and a two-hundred day simple moving average of $9.49. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.64 and a fifty-two week high of $12.70.

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

About Warner Bros. Discovery

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.