Resona Asset Management Co. Ltd. Invests $7.15 Million in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Resona Asset Management Co. Ltd. bought a new stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 676,376 shares of the company’s stock, valued at approximately $7,153,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Principal Financial Group Inc. raised its stake in shares of Warner Bros. Discovery by 3.1% during 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 in the last quarter. Coronation Fund Managers Ltd. increased its holdings in Warner Bros. Discovery by 54.1% during 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 last quarter. SVB Wealth LLC bought a new stake in Warner Bros. Discovery during the fourth quarter worth $168,000. Natixis Advisors LLC lifted its stake in Warner Bros. Discovery by 3.6% in the fourth quarter. Natixis Advisors LLC now owns 291,006 shares of the company’s stock valued at $3,076,000 after acquiring an additional 10,024 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Warner Bros. Discovery in the 4th quarter valued at about $362,210,000. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Warner Bros. Discovery

In other Warner Bros. Discovery news, Director Piazza Samuel A. Jr. Di bought 17,346 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were purchased at an average price 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 in the company, valued at approximately $1,824,824.12. The trade was a 12.17 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 1.80% of the company’s stock.

Warner Bros. Discovery Stock Up 0.2 %

Shares of NASDAQ WBD opened at $8.09 on Tuesday. The stock has a market capitalization of $19.86 billion, a P/E ratio of -1.77, a PEG ratio of 8.64 and a beta of 1.43. The stock’s fifty day moving average is $10.45 and its 200 day moving average is $9.77. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 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.

Warner Bros. Discovery (NASDAQ:WBD) last released its earnings results on Thursday, February 27th. The company reported ($0.20) EPS 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 firm had revenue of $10.03 billion during the quarter, compared to the consensus estimate of $10.16 billion. Sell-side analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Rosenblatt Securities reiterated a “neutral” rating and issued a $13.00 target price on shares of Warner Bros. Discovery in a research note on Friday, March 7th. Bank of America reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Warner Bros. Discovery in a research report on Thursday, December 12th. Needham & Company LLC reissued a “hold” rating on shares of Warner Bros. Discovery in a report on Friday, February 28th. Barrington Research reaffirmed an “outperform” rating and set a $16.00 price target on shares of Warner Bros. Discovery in a report on Wednesday, March 5th. Finally, Raymond James decreased their price objective on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an “outperform” rating on the stock in a report on Friday. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Warner Bros. Discovery presently has a consensus rating of “Moderate Buy” and an average price target of $11.96.

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.