Warner Bros. Discovery, Inc. (NASDAQ:WBD) Stock Position Raised by DnB Asset Management AS

DnB Asset Management AS boosted its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 295.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,519,337 shares of the company’s stock after acquiring an additional 1,135,063 shares during the period. DnB Asset Management AS’s holdings in Warner Bros. Discovery were worth $16,059,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Warner Bros. Discovery by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 252,650,791 shares of the company’s stock worth $2,670,519,000 after purchasing an additional 1,658,415 shares during the last quarter. State Street Corp lifted its stake in Warner Bros. Discovery by 4.1% in the third quarter. State Street Corp now owns 151,285,963 shares of the company’s stock valued at $1,248,109,000 after buying an additional 5,898,611 shares during the last quarter. Norges Bank acquired a new position in shares of Warner Bros. Discovery during the fourth quarter valued at $362,210,000. EdgePoint Investment Group Inc. grew its position in shares of Warner Bros. Discovery by 2.6% during the third quarter. EdgePoint Investment Group Inc. now owns 21,396,719 shares of the company’s stock worth $176,523,000 after acquiring an additional 541,192 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC lifted its position in Warner Bros. Discovery by 1.6% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 20,889,437 shares of the company’s stock valued at $172,338,000 after purchasing an additional 329,620 shares during the last quarter. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Warner Bros. Discovery Stock Down 5.8 %

Shares of NASDAQ:WBD opened at $10.37 on Friday. The firm has a 50 day simple moving average of $10.52 and a 200 day simple moving average of $9.69. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $12.70. The company has a market cap of $25.46 billion, a PE ratio of -2.26, a price-to-earnings-growth ratio of 8.64 and a beta of 1.48.

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

Analyst Upgrades and Downgrades

Several research analysts have commented on WBD shares. Barclays upped their target price on shares of Warner Bros. Discovery from $10.00 to $12.00 and gave the stock an “equal weight” rating in a research report on Friday, February 28th. Moffett Nathanson upgraded Warner Bros. Discovery from a “neutral” rating to a “buy” rating and raised their target price for the company from $9.00 to $13.00 in a research report on Tuesday, January 21st. Citigroup boosted their price target on Warner Bros. Discovery from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. KeyCorp raised their price target on Warner Bros. Discovery from $11.00 to $14.00 and gave the company an “overweight” rating in a report on Tuesday, December 10th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Tuesday, January 14th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $11.91.

Insider Buying and Selling at Warner Bros. Discovery

In other news, Director Piazza Samuel A. Jr. Di purchased 17,346 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was bought at an average cost of $11.41 per share, with a total value of $197,917.86. Following the purchase, the director now directly owns 159,932 shares of the company’s stock, valued at approximately $1,824,824.12. This trade represents a 12.17 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.80% of the company’s stock.

About Warner Bros. Discovery

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.