Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Purchased by Huntington National Bank

Huntington National Bank increased its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 8.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,312 shares of the company’s stock after buying an additional 1,605 shares during the quarter. Huntington National Bank’s holdings in Warner Bros. Discovery were worth $225,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of WBD. Geode Capital Management LLC lifted its holdings in shares of Warner Bros. Discovery by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 57,441,931 shares of the company’s stock valued at $605,633,000 after buying an additional 1,991,441 shares during the period. Diametric Capital LP lifted its holdings in Warner Bros. Discovery by 24.8% in the fourth quarter. Diametric Capital LP now owns 62,593 shares of the company’s stock valued at $662,000 after acquiring an additional 12,442 shares during the period. National Bank of Canada FI grew its stake in shares of Warner Bros. Discovery by 3,207.3% during the 4th quarter. National Bank of Canada FI now owns 1,438,142 shares of the company’s stock worth $15,201,000 after purchasing an additional 1,394,658 shares during the period. Summit Financial LLC increased its holdings in shares of Warner Bros. Discovery by 187.6% during the 4th quarter. Summit Financial LLC now owns 112,631 shares of the company’s stock valued at $1,191,000 after purchasing an additional 73,464 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its stake in shares of Warner Bros. Discovery by 0.6% in the 4th quarter. Alliancebernstein L.P. now owns 2,727,817 shares of the company’s stock valued at $28,833,000 after purchasing an additional 16,596 shares during the period. 59.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

WBD has been the topic of several analyst reports. Raymond James dropped their price target on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an “outperform” rating on the stock in a research report on Friday. Barrington Research restated an “outperform” rating and issued a $16.00 price target on shares of Warner Bros. Discovery in a research note on Wednesday, March 5th. Moffett Nathanson upgraded Warner Bros. Discovery from a “neutral” rating to a “buy” rating and increased their price target for the stock from $9.00 to $13.00 in a research report on Tuesday, January 21st. Benchmark restated a “buy” rating and issued a $18.00 price objective on shares of Warner Bros. Discovery in a research report on Wednesday, February 26th. Finally, Barclays upped their target price on Warner Bros. Discovery from $10.00 to $12.00 and gave the stock an “equal weight” rating in a research note on Friday, February 28th. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $11.96.

Insider Buying and Selling

In related news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of Warner Bros. Discovery stock in a transaction that occurred on Monday, March 3rd. The shares were purchased at an average cost of $11.41 per share, for a total transaction of $197,917.86. Following the acquisition, the director now owns 159,932 shares in the company, valued at approximately $1,824,824.12. This represents a 12.17 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.80% of the stock is currently owned by company insiders.

Warner Bros. Discovery Stock Down 11.9 %

NASDAQ WBD opened at $8.07 on Friday. The business’s fifty day simple moving average is $10.50 and its 200-day simple moving average is $9.77. 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 firm has a market cap of $19.81 billion, a PE ratio of -1.76, a P/E/G ratio of 8.64 and a beta of 1.43. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last posted its 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 firm had revenue of $10.03 billion during the quarter, compared to analyst estimates of $10.16 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. As a group, equities analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 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.