Alexander Randolph Advisory Inc. Buys New Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Alexander Randolph Advisory Inc. bought a new stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 346,243 shares of the company’s stock, valued at approximately $3,940,000. Warner Bros. Discovery makes up about 3.6% of Alexander Randolph Advisory Inc.’s holdings, making the stock its 8th largest holding.

Other large investors also recently made changes to their positions in the company. Oppenheimer & Co. Inc. boosted its position in shares of Warner Bros. Discovery by 15.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 409,018 shares of the company’s stock valued at $4,442,000 after purchasing an additional 53,909 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of Warner Bros. Discovery by 39.9% in the third quarter. Daiwa Securities Group Inc. now owns 423,008 shares of the company’s stock worth $4,594,000 after buying an additional 120,586 shares during the period. New South Capital Management Inc. boosted its holdings in shares of Warner Bros. Discovery by 21.1% in the third quarter. New South Capital Management Inc. now owns 4,082,322 shares of the company’s stock worth $44,334,000 after buying an additional 711,820 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of Warner Bros. Discovery by 4.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 805,597 shares of the company’s stock worth $9,168,000 after buying an additional 36,405 shares during the period. Finally, Anchor Investment Management LLC acquired a new position in shares of Warner Bros. Discovery in the fourth quarter worth about $105,000. Institutional investors own 59.95% of the company’s stock.

Wall Street Analyst Weigh In

WBD has been the subject of several recent analyst reports. Macquarie decreased their target price on shares of Warner Bros. Discovery from $16.00 to $14.00 and set an “outperform” rating for the company in a report on Monday, January 22nd. Barclays decreased their target price on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating for the company in a report on Thursday, February 29th. Wells Fargo & Company cut shares of Warner Bros. Discovery from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $16.00 to $12.00 in a report on Monday, January 29th. Wolfe Research cut shares of Warner Bros. Discovery from a “peer perform” rating to an “underperform” rating and set a $7.00 target price for the company. in a report on Tuesday, April 23rd. Finally, Citigroup reduced their price target on shares of Warner Bros. Discovery from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, February 29th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Warner Bros. Discovery presently has an average rating of “Moderate Buy” and an average target price of $13.83.

Warner Bros. Discovery Stock Down 2.2 %

WBD traded down $0.18 during midday trading on Friday, hitting $8.11. 19,754,363 shares of the company’s stock traded hands, compared to its average volume of 25,568,130. The company has a market cap of $19.79 billion, a PE ratio of -6.34 and a beta of 1.51. The stock’s fifty day simple moving average is $8.62 and its 200-day simple moving average is $9.97. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.93 and a quick ratio of 0.93. Warner Bros. Discovery, Inc. has a one year low of $8.02 and a one year high of $14.76.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results on Friday, February 23rd. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.05). Warner Bros. Discovery had a negative net margin of 7.57% and a negative return on equity of 3.48%. The firm had revenue of $10.28 billion during the quarter, compared to the consensus estimate of $10.34 billion. During the same period in the prior year, the business earned $0.42 EPS. The company’s revenue for the quarter was down 6.6% compared to the same quarter last year. As a group, equities analysts anticipate that Warner Bros. Discovery, Inc. will post -0.33 earnings per share 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.