Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Purchased by KBC Group NV

KBC Group NV raised its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 1.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 912,747 shares of the company’s stock after acquiring an additional 13,396 shares during the quarter. KBC Group NV’s holdings in Warner Bros. Discovery were worth $9,648,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of WBD. State Street Corp lifted its position in Warner Bros. Discovery by 4.1% in the third quarter. State Street Corp now owns 151,285,963 shares of the company’s stock valued at $1,248,109,000 after purchasing an additional 5,898,611 shares during the period. Sessa Capital IM L.P. raised its stake in shares of Warner Bros. Discovery by 24.7% during the 3rd quarter. Sessa Capital IM L.P. now owns 28,410,428 shares of the company’s stock worth $234,386,000 after buying an additional 5,625,545 shares in the last quarter. Drexel Morgan & Co. lifted its holdings in shares of Warner Bros. Discovery by 43.5% in the 3rd quarter. Drexel Morgan & Co. now owns 6,600,463 shares of the company’s stock valued at $54,454,000 after buying an additional 2,000,000 shares during the period. Clifford Capital Partners LLC purchased a new stake in shares of Warner Bros. Discovery in the second quarter valued at approximately $14,760,000. Finally, Private Management Group Inc. grew its holdings in Warner Bros. Discovery by 37.7% during the third quarter. Private Management Group Inc. now owns 6,886,143 shares of the company’s stock worth $56,811,000 after acquiring an additional 1,886,868 shares during the period. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on WBD. Barrington Research reissued an “outperform” rating and issued a $16.00 target price on shares of Warner Bros. Discovery in a report on Friday, December 13th. The Goldman Sachs Group raised their price objective on shares of Warner Bros. Discovery from $9.50 to $10.75 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Macquarie upped their target price on shares of Warner Bros. Discovery from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Wolfe Research upgraded shares of Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research report on Monday, November 11th. Finally, Moffett Nathanson upgraded 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 report on Tuesday, January 21st. Ten 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, Warner Bros. Discovery presently has a consensus rating of “Moderate Buy” and an average price target of $11.76.

Insider Activity at Warner Bros. Discovery

In related news, insider Savalle Sims sold 169,436 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $12.36, for a total value of $2,094,228.96. Following the sale, the insider now directly owns 599,317 shares of the company’s stock, valued at approximately $7,407,558.12. This trade represents a 22.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.80% of the company’s stock.

Warner Bros. Discovery Stock Performance

Shares of NASDAQ WBD opened at $10.43 on Thursday. The company has a 50-day simple moving average of $10.46 and a 200-day simple moving average of $8.89. 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 company has a market cap of $25.59 billion, a PE ratio of -2.28, a price-to-earnings-growth ratio of 6.12 and a beta of 1.50. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last released its earnings results on Thursday, November 7th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.12. 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 $9.62 billion during the quarter, compared to analysts’ expectations of $9.79 billion. During the same period in the previous year, the company earned ($0.17) EPS. Warner Bros. Discovery’s revenue for the quarter was down 3.6% on a year-over-year basis. On average, equities analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Warner Bros. Discovery 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.