Octavia Wealth Advisors LLC Purchases New Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Octavia Wealth Advisors LLC purchased a new stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 10,100 shares of the company’s stock, valued at approximately $115,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Fortis Group Advisors LLC acquired a new stake in shares of Warner Bros. Discovery during the third quarter valued at about $25,000. Peoples Bank KS acquired a new stake in shares of Warner Bros. Discovery during the third quarter valued at about $27,000. Pacifica Partners Inc. grew its stake in shares of Warner Bros. Discovery by 118.2% during the fourth quarter. Pacifica Partners Inc. now owns 2,483 shares of the company’s stock valued at $27,000 after acquiring an additional 1,345 shares in the last quarter. Milestone Investment Advisors LLC acquired a new stake in shares of Warner Bros. Discovery during the third quarter valued at about $28,000. Finally, Headinvest LLC acquired a new stake in shares of Warner Bros. Discovery during the third quarter valued at about $28,000. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Warner Bros. Discovery Stock Performance

WBD opened at $8.23 on Thursday. The business’s 50 day moving average is $8.82 and its 200-day moving average is $10.07. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.90. Warner Bros. Discovery, Inc. has a twelve month low of $8.02 and a twelve month high of $14.76.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results on Friday, February 23rd. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.05). The business had revenue of $10.28 billion for the quarter, compared to the consensus estimate of $10.34 billion. Warner Bros. Discovery had a negative net margin of 7.57% and a negative return on equity of 3.48%. The business’s quarterly revenue was down 6.6% on a year-over-year basis. During the same period last year, the firm posted $0.42 EPS. Equities research analysts expect that Warner Bros. Discovery, Inc. will post -0.35 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Benchmark restated a “buy” rating and set a $20.00 target price on shares of Warner Bros. Discovery in a research note on Monday, March 4th. Barrington Research reduced their price target on shares of Warner Bros. Discovery from $18.00 to $16.00 and set an “outperform” rating on the stock in a research report on Monday, February 26th. Macquarie reduced their price target on shares of Warner Bros. Discovery from $16.00 to $14.00 and set an “outperform” rating on the stock in a research report on Monday, January 22nd. Redburn Atlantic cut shares of Warner Bros. Discovery from a “buy” rating to a “neutral” rating and set a $11.00 price target on the stock. in a research report on Thursday, January 11th. Finally, Morgan Stanley reduced their price target on shares of Warner Bros. Discovery from $14.00 to $10.00 and set an “equal weight” rating on the stock 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.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $14.24.

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.