Mirae Asset Global Investments Co. Ltd. Buys 65,363 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Mirae Asset Global Investments Co. Ltd. increased its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 10.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 665,320 shares of the company’s stock after buying an additional 65,363 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Warner Bros. Discovery were worth $7,058,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in WBD. Sugar Maple Asset Management LLC bought a new stake in Warner Bros. Discovery in the fourth quarter valued at approximately $33,000. New Wave Wealth Advisors LLC acquired a new position in shares of Warner Bros. Discovery during the 4th quarter worth approximately $37,000. Future Financial Wealth Managment LLC bought a new stake in Warner Bros. Discovery in the 3rd quarter valued at $41,000. Larson Financial Group LLC lifted its holdings in Warner Bros. Discovery by 54.1% during the 3rd quarter. Larson Financial Group LLC now owns 4,998 shares of the company’s stock valued at $41,000 after purchasing an additional 1,754 shares during the last quarter. Finally, Rosenberg Matthew Hamilton boosted its position in Warner Bros. Discovery by 448.3% during the fourth quarter. Rosenberg Matthew Hamilton now owns 4,578 shares of the company’s stock worth $48,000 after purchasing an additional 3,743 shares during the period. 59.95% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on WBD shares. Wolfe Research upgraded shares of Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research note on Monday, November 11th. KeyCorp boosted their price objective on Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. Raymond James increased their target price on Warner Bros. Discovery from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Barrington Research reissued an “outperform” rating and set a $16.00 price target on shares of Warner Bros. Discovery in a report on Friday, December 13th. Finally, Moffett Nathanson raised Warner Bros. Discovery from a “neutral” rating to a “buy” rating and upped their price objective for the company from $9.00 to $13.00 in a report on Tuesday, January 21st. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Warner Bros. Discovery has a consensus rating of “Moderate Buy” and an average target price of $11.76.

Warner Bros. Discovery Stock Performance

NASDAQ:WBD opened at $10.16 on Friday. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $12.70. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. The stock’s 50-day simple moving average is $10.46 and its 200 day simple moving average is $8.97. The firm has a market capitalization of $24.92 billion, a PE ratio of -2.22, a price-to-earnings-growth ratio of 6.36 and a beta of 1.49.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.12. The company had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.79 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The firm’s revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.17) EPS. On average, analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Insider Transactions at Warner Bros. Discovery

In other news, insider Savalle Sims sold 169,436 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $12.36, for a total value of $2,094,228.96. Following the completion of the transaction, the insider now owns 599,317 shares of the company’s stock, valued at $7,407,558.12. This represents a 22.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 1.80% of the company’s stock.

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.