Machina Capital S.A.S. Purchases New Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Machina Capital S.A.S. purchased a new stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 42,859 shares of the company’s stock, valued at approximately $453,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Principal Financial Group Inc. grew its holdings in Warner Bros. Discovery by 3.1% in the third 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. Hauser Brothers GmbH grew its holdings in Warner Bros. Discovery by 56.1% in the third quarter. Hauser Brothers GmbH now owns 1,225,000 shares of the company’s stock worth $10,106,000 after purchasing an additional 440,000 shares during the period. Erste Asset Management GmbH purchased a new stake in Warner Bros. Discovery in the third quarter worth about $1,474,000. Blueshift Asset Management LLC purchased a new stake in Warner Bros. Discovery in the third quarter worth about $588,000. Finally, Natixis Advisors LLC lifted its stake in shares of Warner Bros. Discovery by 22.7% in the third quarter. Natixis Advisors LLC now owns 280,982 shares of the company’s stock worth $2,318,000 after buying an additional 52,051 shares in the last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Trading Up 3.5 %

Shares of Warner Bros. Discovery stock opened at $11.07 on Friday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a market capitalization of $27.16 billion, a PE ratio of -2.42, a P/E/G ratio of 8.64 and a beta of 1.48. Warner Bros. Discovery, Inc. has a 1-year low of $6.64 and a 1-year high of $12.70. The company’s fifty day simple moving average is $10.39 and its 200-day simple moving average is $9.38.

Warner Bros. Discovery (NASDAQ:WBD) last released its 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 company had revenue of $10.03 billion for the quarter, compared to analysts’ expectations of $10.16 billion. As a group, equities analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Savalle Sims sold 169,436 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 599,317 shares in the company, valued at $7,407,558.12. The trade was a 22.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was acquired at an average cost of $11.41 per share, with a total value of $197,917.86. Following the purchase, the director now 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 disclosure for this purchase can be found here. 1.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on WBD shares. Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a research note on Friday, February 28th. JPMorgan Chase & Co. upped their target price on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 14th. Guggenheim upped their target price on shares of Warner Bros. Discovery from $11.00 to $12.50 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Moffett Nathanson upgraded shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and upped their target price for the stock from $9.00 to $13.00 in a research note on Tuesday, January 21st. Finally, 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. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $11.91.

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.