66,636 Shares in Warner Bros. Discovery, Inc. (NASDAQ:WBD) Purchased by Cullen Investment Group LTD.

Cullen Investment Group LTD. purchased a new position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 66,636 shares of the company’s stock, valued at approximately $758,000.

Other hedge funds also recently bought and sold shares of the company. Fortis Group Advisors LLC purchased a new position in Warner Bros. Discovery in the 3rd quarter worth about $25,000. Peoples Bank KS purchased a new position in Warner Bros. Discovery in the 3rd quarter worth about $27,000. Pacifica Partners Inc. raised its position in Warner Bros. Discovery by 118.2% in the 4th quarter. Pacifica Partners Inc. now owns 2,483 shares of the company’s stock worth $27,000 after buying an additional 1,345 shares during the last quarter. Milestone Investment Advisors LLC purchased a new position in Warner Bros. Discovery in the 3rd quarter worth about $28,000. Finally, Headinvest LLC purchased a new position in Warner Bros. Discovery in the 3rd quarter worth about $28,000. Institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Trading Up 0.2 %

Warner Bros. Discovery stock opened at $8.36 on Tuesday. The firm has a 50 day moving average of $8.89 and a 200 day moving average of $10.10. The firm has a market capitalization of $20.40 billion, a price-to-earnings ratio of -6.53 and a beta of 1.51. Warner Bros. Discovery, Inc. has a 12-month low of $8.02 and a 12-month high of $14.76. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.90.

Warner Bros. Discovery (NASDAQ:WBD) last released its earnings results on Friday, February 23rd. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.05). Warner Bros. Discovery had a negative return on equity of 3.48% and a negative net margin of 7.57%. 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 earnings per share. The company’s revenue was down 6.6% compared to the same quarter last year. As a group, research analysts predict that Warner Bros. Discovery, Inc. will post -0.35 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on WBD shares. Benchmark reissued a “buy” rating and issued a $20.00 target price on shares of Warner Bros. Discovery in a research report on Monday, March 4th. Wells Fargo & Company lowered shares of Warner Bros. Discovery from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $16.00 to $12.00 in a research report on Monday, January 29th. Morgan Stanley reduced 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. Rosenblatt Securities raised shares of Warner Bros. Discovery from a “sell” rating to a “neutral” rating and upped their price target for the company from $7.00 to $10.00 in a research report on Thursday, March 21st. Finally, Macquarie reduced their price target on shares of Warner Bros. Discovery from $16.00 to $14.00 and set an “outperform” rating for the company in a research report on Monday, January 22nd. Eight equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.24.

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.