Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Bought by Cullen Capital Management LLC

Cullen Capital Management LLC lifted its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 12.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 92,230 shares of the company’s stock after buying an additional 9,947 shares during the quarter. Cullen Capital Management LLC’s holdings in Warner Bros. Discovery were worth $975,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Principal Financial Group Inc. lifted its holdings in Warner Bros. Discovery by 3.1% during the 3rd quarter. Principal Financial Group Inc. now owns 2,579,571 shares of the company’s stock worth $21,281,000 after buying an additional 78,653 shares during the last quarter. Coronation Fund Managers Ltd. lifted its stake in Warner Bros. Discovery by 54.1% during the fourth quarter. Coronation Fund Managers Ltd. now owns 5,644,290 shares of the company’s stock worth $59,660,000 after purchasing an additional 1,981,050 shares during the last quarter. SVB Wealth LLC purchased a new position in Warner Bros. Discovery in the fourth quarter valued at approximately $168,000. Natixis Advisors LLC raised its holdings in Warner Bros. Discovery by 3.6% during the fourth quarter. Natixis Advisors LLC now owns 291,006 shares of the company’s stock worth $3,076,000 after purchasing an additional 10,024 shares in the last quarter. Finally, Parkside Investments LLC lifted its position in shares of Warner Bros. Discovery by 297.9% during the 4th quarter. Parkside Investments LLC now owns 260,494 shares of the company’s stock worth $2,753,000 after buying an additional 195,026 shares during the last quarter. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Warner Bros. Discovery Stock Performance

Shares of WBD stock opened at $8.07 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. Warner Bros. Discovery, Inc. has a 12-month low of $6.64 and a 12-month high of $12.70. The company has a market cap of $19.81 billion, a price-to-earnings ratio of -1.76, a price-to-earnings-growth ratio of 8.64 and a beta of 1.43. The stock has a 50 day simple moving average of $10.50 and a 200-day simple moving average of $9.77.

Warner Bros. Discovery (NASDAQ:WBD) last released its earnings results on Thursday, February 27th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.30). The business had revenue of $10.03 billion during the quarter, compared to analyst estimates of $10.16 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. On average, equities analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on WBD. JPMorgan Chase & Co. increased their target price on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Tuesday, January 14th. Barclays upped their target price on Warner Bros. Discovery from $10.00 to $12.00 and gave the company an “equal weight” rating in a research report on Friday, February 28th. Citigroup lifted their price target on Warner Bros. Discovery from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. Needham & Company LLC reissued a “hold” rating on shares of Warner Bros. Discovery in a report on Friday, February 28th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and issued a $13.00 target price on shares of Warner Bros. Discovery in a report on Friday, March 7th. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $11.96.

Insider Activity at Warner Bros. Discovery

In other news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was purchased at an average cost of $11.41 per share, with a total value of $197,917.86. Following the purchase, the director now directly owns 159,932 shares of the company’s stock, valued at approximately $1,824,824.12. This trade represents a 12.17 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.80% of the company’s stock.

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.