Vanguard Group Inc. Raises Stock Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Vanguard Group Inc. increased its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 0.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 252,650,791 shares of the company’s stock after acquiring an additional 1,658,415 shares during the period. Vanguard Group Inc. owned approximately 0.10% of Warner Bros. Discovery worth $2,670,519,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in WBD. Hauser Brothers GmbH increased its position in Warner Bros. Discovery by 56.1% during the third quarter. Hauser Brothers GmbH now owns 1,225,000 shares of the company’s stock valued at $10,106,000 after acquiring an additional 440,000 shares during the last quarter. Principal Financial Group Inc. raised its position in Warner Bros. Discovery by 3.1% in the 3rd quarter. Principal Financial Group Inc. now owns 2,579,571 shares of the company’s stock worth $21,281,000 after purchasing an additional 78,653 shares during the period. Erste Asset Management GmbH bought a new stake in Warner Bros. Discovery in the third quarter worth about $1,474,000. Blueshift Asset Management LLC bought a new position in shares of Warner Bros. Discovery during the third quarter valued at approximately $588,000. Finally, Coronation Fund Managers Ltd. raised its holdings in shares of Warner Bros. Discovery by 54.1% in the fourth quarter. Coronation Fund Managers Ltd. now owns 5,644,290 shares of the company’s stock worth $59,660,000 after buying an additional 1,981,050 shares during the period. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on WBD shares. Barclays lifted their target price on 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. Guggenheim boosted their price target on Warner Bros. Discovery from $11.00 to $12.50 and gave the company a “buy” rating in a report on Thursday, December 12th. Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a report on Friday, February 28th. Bank of America reiterated a “buy” rating and issued a $14.00 price target on shares of Warner Bros. Discovery in a report on Thursday, December 12th. Finally, Rosenblatt Securities restated a “neutral” rating and set a $13.00 price objective on shares of Warner Bros. Discovery in a research note on Friday, March 7th. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Warner Bros. Discovery presently has a consensus rating of “Moderate Buy” and an average target price of $11.91.

Warner Bros. Discovery Trading Up 0.1 %

Shares of Warner Bros. Discovery stock opened at $10.98 on Wednesday. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.64 and a fifty-two week high of $12.70. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market cap of $26.95 billion, a P/E ratio of -2.40, a price-to-earnings-growth ratio of 8.64 and a beta of 1.48. The firm has a 50-day simple moving average of $10.45 and a two-hundred day simple moving average of $9.65.

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

Insider Activity at Warner Bros. Discovery

In related news, Director Piazza Samuel A. Jr. Di bought 17,346 shares of the stock in a transaction dated Monday, March 3rd. The shares were acquired at an average cost of $11.41 per share, for a total transaction of $197,917.86. Following the acquisition, the director now directly owns 159,932 shares in the company, valued at approximately $1,824,824.12. This trade represents a 12.17 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.80% of the stock is owned by corporate insiders.

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.