Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Purchased by DnB Asset Management AS

DnB Asset Management AS raised its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 295.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,519,337 shares of the company’s stock after buying an additional 1,135,063 shares during the quarter. DnB Asset Management AS owned about 0.06% of Warner Bros. Discovery worth $16,059,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of WBD. Level Four Advisory Services LLC grew its holdings in shares of Warner Bros. Discovery by 7.6% during the fourth quarter. Level Four Advisory Services LLC now owns 26,503 shares of the company’s stock worth $280,000 after buying an additional 1,866 shares in the last quarter. Norges Bank purchased a new stake in Warner Bros. Discovery in the 4th quarter worth approximately $362,210,000. Caisse Des Depots ET Consignations acquired a new position in Warner Bros. Discovery in the 4th quarter valued at $1,079,000. NEOS Investment Management LLC lifted its stake in shares of Warner Bros. Discovery by 25.3% during the 4th quarter. NEOS Investment Management LLC now owns 307,864 shares of the company’s stock worth $3,254,000 after purchasing an additional 62,112 shares during the period. Finally, UniSuper Management Pty Ltd boosted its holdings in shares of Warner Bros. Discovery by 6.5% during the fourth quarter. UniSuper Management Pty Ltd now owns 245,687 shares of the company’s stock worth $2,597,000 after purchasing an additional 14,991 shares during the last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Insider Buying and Selling

In other news, Director Piazza Samuel A. Jr. Di purchased 17,346 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was acquired at an average cost of $11.41 per share, for a total transaction of $197,917.86. Following the completion of 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.80% of the company’s stock.

Warner Bros. Discovery Stock Performance

NASDAQ:WBD opened at $10.37 on Friday. The firm has a 50-day moving average of $10.52 and a two-hundred day moving average of $9.69. 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 cap of $25.46 billion, a P/E ratio of -2.26, a PEG 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.

Warner Bros. Discovery (NASDAQ:WBD) last issued 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). 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. On average, research analysts expect that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. KeyCorp increased their target price on Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. Rosenblatt Securities reissued a “neutral” rating and issued a $13.00 target price on shares of Warner Bros. Discovery in a research report on Friday, March 7th. Moffett Nathanson raised shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and upped their price target for the stock from $9.00 to $13.00 in a research report on Tuesday, January 21st. Guggenheim boosted their price objective on shares of Warner Bros. Discovery from $11.00 to $12.50 and gave the company a “buy” rating in a research note on Thursday, December 12th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a research report on Friday, February 28th. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price 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.