Friedenthal Financial Buys Shares of 73,203 Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Friedenthal Financial bought a new stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 73,203 shares of the company’s stock, valued at approximately $774,000.

A number of other institutional investors have also modified their holdings of the stock. Future Financial Wealth Managment LLC acquired a new stake in Warner Bros. Discovery during the third quarter worth about $41,000. Larson Financial Group LLC raised its position in shares of Warner Bros. Discovery by 54.1% during the 3rd quarter. Larson Financial Group LLC now owns 4,998 shares of the company’s stock worth $41,000 after purchasing an additional 1,754 shares during the period. Quarry LP lifted its holdings in shares of Warner Bros. Discovery by 2,185.1% in the 2nd quarter. Quarry LP now owns 6,307 shares of the company’s stock worth $47,000 after purchasing an additional 6,031 shares during the last quarter. Brooklyn Investment Group acquired a new position in Warner Bros. Discovery during the 3rd quarter valued at approximately $51,000. Finally, William B. Walkup & Associates Inc. bought a new position in Warner Bros. Discovery during the 2nd quarter worth $59,000. Institutional investors and hedge funds own 59.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on WBD. Barclays raised their target price on Warner Bros. Discovery from $8.00 to $10.00 and gave the company an “equal weight” rating in a research note on Friday, November 8th. Rosenblatt Securities lifted their price objective on shares of Warner Bros. Discovery from $9.00 to $13.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Raymond James upped their target price on shares of Warner Bros. Discovery from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. KeyCorp raised their price target on shares of Warner Bros. Discovery from $11.00 to $14.00 and gave the company an “overweight” rating in a research note on Tuesday, December 10th. Finally, Macquarie boosted their price objective on Warner Bros. Discovery from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $11.46.

Insider Activity

In other news, insider Savalle Sims sold 169,436 shares of Warner Bros. Discovery stock in a transaction on Friday, December 13th. The stock was sold at an average price of $12.36, for a total transaction of $2,094,228.96. Following the transaction, the insider now owns 599,317 shares in the company, valued at approximately $7,407,558.12. The trade was a 22.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.80% of the stock is owned by company insiders.

Warner Bros. Discovery Price Performance

Shares of NASDAQ WBD traded up $0.14 during trading on Monday, hitting $9.84. The company had a trading volume of 26,800,287 shares, compared to its average volume of 27,692,949. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $12.70. The business’s 50-day moving average is $10.26 and its 200 day moving average is $8.65. The company has a market cap of $24.14 billion, a P/E ratio of -2.15 and a beta of 1.52. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80.

Warner Bros. Discovery (NASDAQ:WBD) last announced its earnings results on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.12. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The company had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.79 billion. During the same period in the previous year, the firm earned ($0.17) earnings per share. Warner Bros. Discovery’s revenue for the quarter was down 3.6% compared to the same quarter last year. Equities research analysts predict that Warner Bros. Discovery, Inc. will post -4.37 earnings per share for the current fiscal 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.