Everence Capital Management Inc. Acquires 29,660 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Everence Capital Management Inc. increased its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 106.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,457 shares of the company’s stock after acquiring an additional 29,660 shares during the period. Everence Capital Management Inc.’s holdings in Warner Bros. Discovery were worth $654,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of WBD. Fortis Group Advisors LLC bought a new position in shares of Warner Bros. Discovery in the third quarter worth approximately $25,000. Peoples Bank KS bought a new position in shares of Warner Bros. Discovery in the third quarter worth approximately $27,000. Pacifica Partners Inc. lifted its stake in shares of Warner Bros. Discovery by 118.2% in the fourth quarter. Pacifica Partners Inc. now owns 2,483 shares of the company’s stock worth $27,000 after buying an additional 1,345 shares in the last quarter. Milestone Investment Advisors LLC bought a new position in shares of Warner Bros. Discovery in the third quarter worth approximately $28,000. Finally, Headinvest LLC purchased a new position in shares of Warner Bros. Discovery during the third quarter valued at approximately $28,000. Institutional investors own 59.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Barrington Research reduced their target price on shares of Warner Bros. Discovery from $18.00 to $16.00 and set an “outperform” rating for the company in a report on Monday, February 26th. JPMorgan Chase & Co. reduced their target price on shares of Warner Bros. Discovery from $13.00 to $10.00 and set a “neutral” rating for the company in a report on Monday, February 26th. Wells Fargo & Company cut shares of Warner Bros. Discovery from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $16.00 to $12.00 in a report on Monday, January 29th. Rosenblatt Securities raised shares of Warner Bros. Discovery from a “sell” rating to a “neutral” rating and upped their target price for the company from $7.00 to $10.00 in a report on Thursday, March 21st. Finally, Morgan Stanley dropped their price target on shares of Warner Bros. Discovery from $14.00 to $10.00 and set an “equal weight” rating for the company in a research report on Monday, February 26th. Eight equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.24.

Warner Bros. Discovery Trading Up 1.1 %

Shares of WBD opened at $8.23 on Thursday. Warner Bros. Discovery, Inc. has a twelve month low of $8.02 and a twelve month high of $14.76. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.93 and a quick ratio of 0.93. The company’s fifty day simple moving average is $8.82 and its 200-day simple moving average is $10.07.

Warner Bros. Discovery (NASDAQ:WBD) last announced its earnings results on Friday, February 23rd. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate 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 analysts’ expectations of $10.34 billion. During the same period in the prior year, the company posted $0.42 EPS. The company’s revenue was down 6.6% compared to the same quarter last year. On average, equities research analysts expect that Warner Bros. Discovery, Inc. will post -0.35 earnings per share for the current 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.