iA Global Asset Management Inc. Acquires 14,469 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

iA Global Asset Management Inc. lifted its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 5.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 264,414 shares of the company’s stock after buying an additional 14,469 shares during the quarter. iA Global Asset Management Inc.’s holdings in Warner Bros. Discovery were worth $2,795,000 at the end of the most recent quarter.

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

Insiders Place Their Bets

In related news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were bought at an average price of $11.41 per share, for a total transaction of $197,917.86. Following 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

WBD has been the subject of several recent research reports. Benchmark reissued a “buy” rating and set a $18.00 price objective on shares of Warner Bros. Discovery in a report on Wednesday, February 26th. Moffett Nathanson raised Warner Bros. Discovery from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $9.00 to $13.00 in a report on Tuesday, January 21st. Guggenheim boosted their price objective on Warner Bros. Discovery from $11.00 to $12.50 and gave the stock a “buy” rating in a report on Thursday, December 12th. Barclays upped 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. Finally, JPMorgan Chase & Co. upped their price target on Warner Bros. Discovery from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. 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, the company has a consensus rating of “Moderate Buy” and a consensus target price of $11.91.

Warner Bros. Discovery Trading Down 2.5 %

NASDAQ:WBD opened at $10.65 on Friday. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $12.70. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. The business has a 50 day moving average price of $10.38 and a two-hundred day moving average price of $9.54. The company has a market cap of $26.14 billion, a P/E ratio of -2.33, a price-to-earnings-growth ratio of 8.64 and a beta of 1.48.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.20) earnings per share 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 firm had revenue of $10.03 billion for the quarter, compared to analyst estimates of $10.16 billion. As a group, analysts expect that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Warner Bros. Discovery 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.