Korea Investment CORP Acquires 412,647 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Korea Investment CORP increased its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 32.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,692,858 shares of the company’s stock after acquiring an additional 412,647 shares during the quarter. Korea Investment CORP owned about 0.07% of Warner Bros. Discovery worth $17,894,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Stonebridge Financial Group LLC bought a new stake in shares of Warner Bros. Discovery during the 4th quarter valued at $26,000. SRS Capital Advisors Inc. lifted its position in Warner Bros. Discovery by 313.4% during the fourth quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company’s stock worth $27,000 after purchasing an additional 1,940 shares during the period. Graney & King LLC acquired a new stake in Warner Bros. Discovery during the fourth quarter worth about $28,000. Ethos Financial Group LLC bought a new position in Warner Bros. Discovery in the 4th quarter valued at about $29,000. Finally, Briaud Financial Planning Inc raised its position in shares of Warner Bros. Discovery by 258.1% in 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. Institutional investors and hedge funds own 59.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Barrington Research reiterated an “outperform” rating and set a $16.00 price target on shares of Warner Bros. Discovery in a research report on Wednesday, March 5th. Moffett Nathanson upgraded Warner Bros. Discovery from a “neutral” rating to a “buy” rating and lifted their price target for the company from $9.00 to $13.00 in a research note on Tuesday, January 21st. JPMorgan Chase & Co. boosted their price target on Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Tuesday, January 14th. KeyCorp raised their price objective on Warner Bros. Discovery from $11.00 to $14.00 and gave the company an “overweight” rating in a research note on Tuesday, December 10th. Finally, Bank of America reissued a “buy” rating and set a $14.00 target price on shares of Warner Bros. Discovery in a research note on Thursday, December 12th. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $11.91.

Warner Bros. Discovery Stock Down 5.8 %

Shares of WBD opened at $10.37 on Friday. The stock’s 50-day moving average price is $10.52 and its two-hundred day moving average price is $9.70. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70. The company has a market capitalization of $25.46 billion, a PE ratio of -2.26, a PEG ratio of 8.64 and a beta of 1.48. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $10.03 billion during the quarter, compared to analyst estimates of $10.16 billion. On average, analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Insider Transactions at Warner Bros. Discovery

In other Warner Bros. Discovery news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of the stock in a transaction dated Monday, March 3rd. The stock was purchased at an average cost of $11.41 per share, with a total value of $197,917.86. Following the transaction, the director now owns 159,932 shares in the company, valued at approximately $1,824,824.12. The trade was a 12.17 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate 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.