Evoke Wealth LLC Purchases Shares of 19,319 Warner Bros. Discovery, Inc. (NASDAQ:WBD) (2024)

Evoke Wealth LLC acquired a new position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD – Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 19,319 shares of the company’s stock, valued at approximately $220,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Invesco Ltd. grew its position in shares of Warner Bros. Discovery by 16.6% during the 3rd quarter. Invesco Ltd. now owns 28,184,613 shares of the company’s stock worth $306,085,000 after purchasing an additional 4,016,888 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Warner Bros. Discovery by 12.1% during the third quarter. The Manufacturers Life Insurance Company now owns 21,823,875 shares of the company’s stock worth $237,007,000 after buying an additional 2,356,665 shares in the last quarter. Northern Trust Corp increased its stake in Warner Bros. Discovery by 2.6% during the 3rd quarter. Northern Trust Corp now owns 20,873,998 shares of the company’s stock worth $226,692,000 after acquiring an additional 524,965 shares during the period. Norges Bank acquired a new position in Warner Bros. Discovery in the 4th quarter valued at $198,916,000. Finally, Boston Partners lifted its position in shares of Warner Bros. Discovery by 9.9% during the 4th quarter. Boston Partners now owns 15,640,771 shares of the company’s stock valued at $177,384,000 after acquiring an additional 1,414,952 shares during the period. 59.95% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Morgan Stanley cut their price objective 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. Barclays decreased 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. Rosenblatt Securities upgraded Warner Bros. Discovery from a “sell” rating to a “neutral” rating and upped their target price for the stock from $7.00 to $10.00 in a research note on Thursday, March 21st. Citigroup decreased their price target on Warner Bros. Discovery from $16.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, February 29th. Finally, Barrington Research restated an “outperform” rating and set a $15.00 price objective on shares of Warner Bros. Discovery in a research report on Tuesday, May 28th. One analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $13.16.

Read Our Latest Report on Warner Bros. Discovery

Warner Bros. Discovery Price Performance

NASDAQ WBD opened at $8.33 on Tuesday. Warner Bros. Discovery, Inc. has a twelve month low of $7.34 and a twelve month high of $14.76. The stock has a fifty day simple moving average of $8.21 and a 200 day simple moving average of $9.54. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.82 and a current ratio of 0.82.

Warner Bros. Discovery (NASDAQ:WBD – Get Free Report) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.16). Warner Bros. Discovery had a negative return on equity of 6.58% and a negative net margin of 7.45%. The company had revenue of $9.96 billion for the quarter, compared to the consensus estimate of $10.22 billion. During the same quarter last year, the business earned $0.18 earnings per share. Warner Bros. Discovery’s revenue was down 6.9% compared to the same quarter last year. As a group, analysts predict that Warner Bros. Discovery, Inc. will post -0.38 earnings per share for the current fiscal year.

Warner Bros. Discovery Company Profile

(Free Report)

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.

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