KLP Kapitalforvaltning AS Purchases Shares of 732,827 Warner Bros. Discovery, Inc. (NASDAQ:WBD)

KLP Kapitalforvaltning AS acquired a new stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 732,827 shares of the company’s stock, valued at approximately $7,746,000.

Other institutional investors have also recently made changes to their positions in the company. Stonebridge Financial Group LLC bought a new stake in Warner Bros. Discovery in the fourth quarter worth $26,000. SRS Capital Advisors Inc. grew its stake in shares of Warner Bros. Discovery by 313.4% in the 4th quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company’s stock worth $27,000 after buying an additional 1,940 shares in the last quarter. Ethos Financial Group LLC bought a new stake in shares of Warner Bros. Discovery in the 4th quarter worth about $29,000. Briaud Financial Planning Inc raised its position in shares of Warner Bros. Discovery by 258.1% during the 4th quarter. Briaud Financial Planning Inc now owns 2,775 shares of the company’s stock valued at $29,000 after buying an additional 2,000 shares in the last quarter. Finally, Sugar Maple Asset Management LLC bought a new position in shares of Warner Bros. Discovery in the 4th quarter valued at about $33,000. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Moffett Nathanson upgraded 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 research report on Tuesday, January 21st. Bank of America restated a “buy” rating and set a $14.00 price target on shares of Warner Bros. Discovery in a report on Thursday, December 12th. Benchmark reaffirmed a “buy” rating and set a $18.00 price objective on shares of Warner Bros. Discovery in a research note on Wednesday, February 26th. Needham & Company LLC reissued a “hold” rating on shares of Warner Bros. Discovery in a research note on Friday, February 28th. Finally, Barclays lifted their price target on shares of Warner Bros. Discovery from $10.00 to $12.00 and gave the stock an “equal weight” rating in a research note on Friday, February 28th. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Warner Bros. Discovery has an average rating of “Moderate Buy” and a consensus target price of $11.91.

Insider Activity at Warner Bros. Discovery

In related news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was purchased at an average cost of $11.41 per share, for a total transaction of $197,917.86. Following the purchase, the director now directly owns 159,932 shares of the company’s stock, valued at $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 can be accessed through this link. 1.80% of the stock is currently owned by corporate insiders.

Warner Bros. Discovery Stock Performance

Shares of Warner Bros. Discovery stock opened at $10.97 on Tuesday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. The stock’s fifty day moving average price is $10.42 and its 200-day moving average price is $9.62. The firm has a market cap of $26.93 billion, a P/E ratio of -2.40, a P/E/G ratio of 8.64 and a beta of 1.48. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70.

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

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.