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

Octavia Wealth Advisors LLC bought a new stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 10,100 shares of the company’s stock, valued at approximately $115,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Thompson Siegel & Walmsley LLC bought a new position in Warner Bros. Discovery during the third quarter worth about $32,838,000. Retirement Systems of Alabama bought a new position in Warner Bros. Discovery during the third quarter worth about $8,438,000. First Trust Advisors LP bought a new position in Warner Bros. Discovery during the third quarter worth about $4,168,000. Price T Rowe Associates Inc. MD bought a new position in Warner Bros. Discovery during the third quarter worth about $49,058,000. Finally, Two Sigma Advisers LP bought a new position in Warner Bros. Discovery during the third quarter worth about $601,000. Institutional investors and hedge funds own 59.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on WBD shares. Redburn Atlantic cut Warner Bros. Discovery from a “buy” rating to a “neutral” rating and set a $11.00 price target for the company. in a report on Thursday, January 11th. Rosenblatt Securities upgraded Warner Bros. Discovery from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $7.00 to $10.00 in a report on Thursday, March 21st. Barclays reduced their price objective on Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating for the company in a report on Thursday, February 29th. JPMorgan Chase & Co. reduced their price objective on Warner Bros. Discovery from $13.00 to $10.00 and set a “neutral” rating for the company in a report on Monday, February 26th. Finally, Citigroup reduced their price objective on Warner Bros. Discovery from $16.00 to $14.00 and set a “buy” rating for the company in a report on Thursday, February 29th. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Warner Bros. Discovery presently has an average rating of “Moderate Buy” and an average target price of $14.24.

Warner Bros. Discovery Stock Up 1.1 %

NASDAQ WBD opened at $8.23 on Thursday. 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, Inc. has a 1-year low of $8.02 and a 1-year high of $14.76. The company has a 50 day moving average of $8.82 and a 200-day moving average of $10.07.

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). Warner Bros. Discovery had a negative net margin of 7.57% and a negative return on equity of 3.48%. The business had revenue of $10.28 billion during the quarter, compared to analyst estimates of $10.34 billion. During the same quarter in the previous year, the firm posted $0.42 earnings per share. The firm’s quarterly revenue was down 6.6% on a year-over-year basis. As a group, equities research analysts expect that Warner Bros. Discovery, Inc. will post -0.35 EPS for the current fiscal year.

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.