KLP Kapitalforvaltning AS Purchases New Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

KLP Kapitalforvaltning AS acquired a new position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 732,827 shares of the company’s stock, valued at approximately $7,746,000.

Several other large investors have also recently made changes to their positions in WBD. Golden State Equity Partners increased its position in Warner Bros. Discovery by 6.5% during the 4th quarter. Golden State Equity Partners now owns 16,124 shares of the company’s stock valued at $170,000 after buying an additional 986 shares in the last quarter. Deseret Mutual Benefit Administrators grew its stake in shares of Warner Bros. Discovery by 12.0% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 9,925 shares of the company’s stock worth $105,000 after acquiring an additional 1,066 shares during the last quarter. Cornerstone Wealth Management LLC increased its holdings in shares of Warner Bros. Discovery by 7.4% during the fourth quarter. Cornerstone Wealth Management LLC now owns 15,995 shares of the company’s stock valued at $169,000 after acquiring an additional 1,101 shares in the last quarter. Personal CFO Solutions LLC raised its position in shares of Warner Bros. Discovery by 2.8% in the 4th quarter. Personal CFO Solutions LLC now owns 42,935 shares of the company’s stock worth $454,000 after purchasing an additional 1,174 shares during the last quarter. Finally, Avestar Capital LLC boosted its stake in Warner Bros. Discovery by 9.4% in the 4th quarter. Avestar Capital LLC now owns 14,337 shares of the company’s stock worth $152,000 after purchasing an additional 1,228 shares in the last quarter. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a research note on Friday, February 28th. KeyCorp raised their price target on shares of Warner Bros. Discovery from $11.00 to $14.00 and gave the company an “overweight” rating in a research report on Tuesday, December 10th. JPMorgan Chase & Co. upped their price objective on Warner Bros. Discovery from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Tuesday, January 14th. Bank of America reissued a “buy” rating and issued a $14.00 target price on shares of Warner Bros. Discovery in a report on Thursday, December 12th. Finally, Barclays boosted their price target on 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 equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.91.

Insiders Place Their Bets

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 shares were acquired at an average cost of $11.41 per share, for a total transaction of $197,917.86. Following the completion of the transaction, the director now directly owns 159,932 shares of the company’s stock, valued at approximately $1,824,824.12. The trade was a 12.17 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 1.80% of the company’s stock.

Warner Bros. Discovery Price Performance

Shares of Warner Bros. Discovery stock opened at $10.97 on Tuesday. The stock’s fifty day moving average is $10.42 and its 200 day moving average is $9.62. Warner Bros. Discovery, Inc. has a one year low of $6.64 and a one year 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 stock 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 (NASDAQ:WBD) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.30). The company had revenue of $10.03 billion for the quarter, compared to analysts’ expectations of $10.16 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. Sell-side analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

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.