Cullen Investment Group LTD. Acquires New Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Cullen Investment Group LTD. acquired a new stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 66,636 shares of the company’s stock, valued at approximately $758,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Moneta Group Investment Advisors LLC boosted its stake in Warner Bros. Discovery by 124,559.2% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 28,075,738 shares of the company’s stock worth $266,158,000 after acquiring an additional 28,053,216 shares in the last quarter. Norges Bank bought a new position in Warner Bros. Discovery during the fourth quarter worth $196,222,000. Boston Partners boosted its stake in Warner Bros. Discovery by 43.0% during the third quarter. Boston Partners now owns 14,225,819 shares of the company’s stock worth $153,713,000 after acquiring an additional 4,275,994 shares in the last quarter. Price T Rowe Associates Inc. MD bought a new position in Warner Bros. Discovery during the third quarter worth $49,058,000. Finally, Invesco Ltd. boosted its stake in Warner Bros. Discovery by 16.6% during the third quarter. Invesco Ltd. now owns 28,184,613 shares of the company’s stock worth $306,085,000 after acquiring an additional 4,016,888 shares in the last quarter. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Warner Bros. Discovery Stock Performance

Shares of WBD 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 company has a market cap of $20.40 billion, a P/E ratio of -6.53 and a beta of 1.51. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.93 and a quick ratio of 0.93. Warner Bros. Discovery, Inc. has a one year low of $8.02 and a one year high of $14.76.

Warner Bros. Discovery (NASDAQ:WBD) last announced its earnings results on Friday, February 23rd. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.05). The firm had revenue of $10.28 billion during the quarter, compared to analysts’ expectations 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 revenue for the quarter was down 6.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.42 EPS. Equities research analysts forecast that Warner Bros. Discovery, Inc. will post -0.35 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on WBD. JPMorgan Chase & Co. cut their target price on shares of Warner Bros. Discovery from $13.00 to $10.00 and set a “neutral” rating on the stock in a research note on Monday, February 26th. Barclays dropped their price objective on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 29th. Macquarie dropped their price objective on shares of Warner Bros. Discovery from $16.00 to $14.00 and set an “outperform” rating on the stock in a research note on Monday, January 22nd. Morgan Stanley dropped their price objective on shares of Warner Bros. Discovery from $14.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Monday, February 26th. Finally, Redburn Atlantic lowered shares of Warner Bros. Discovery from a “buy” rating to a “neutral” rating and set a $11.00 price objective on the stock. in a research note on Thursday, January 11th. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus 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.