Bank Julius Baer & Co. Ltd Zurich Has $43.10 Million Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Bank Julius Baer & Co. Ltd Zurich cut its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 9.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 3,842,580 shares of the company’s stock after selling 422,427 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in Warner Bros. Discovery were worth $43,095,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. State Street Corp grew its stake in shares of Warner Bros. Discovery by 4.1% in the third quarter. State Street Corp now owns 151,285,963 shares of the company’s stock worth $1,248,109,000 after purchasing an additional 5,898,611 shares during the last quarter. Sessa Capital IM L.P. lifted its holdings in 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 during the period. EdgePoint Investment Group Inc. increased its stake in shares of Warner Bros. Discovery by 2.6% in the third quarter. EdgePoint Investment Group Inc. now owns 21,396,719 shares of the company’s stock valued at $176,523,000 after buying an additional 541,192 shares during the period. Hotchkis & Wiley Capital Management LLC raised its position in shares of Warner Bros. Discovery by 1.6% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 20,889,437 shares of the company’s stock worth $172,338,000 after acquiring an additional 329,620 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Warner Bros. Discovery by 5.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 16,547,162 shares of the company’s stock valued at $174,904,000 after acquiring an additional 861,656 shares during the last quarter. 59.95% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Warner Bros. Discovery

In related news, insider Savalle Sims sold 169,436 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $12.36, for a total transaction of $2,094,228.96. Following the completion of the transaction, 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 SEC, which is accessible through this link. Also, Director Piazza Samuel A. Jr. Di purchased 17,346 shares of Warner Bros. Discovery stock in a transaction on Monday, March 3rd. The stock was bought at an average price of $11.41 per share, for a total transaction of $197,917.86. Following the completion of the acquisition, the director now owns 159,932 shares in the company, valued at $1,824,824.12. The trade was a 12.17 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on WBD. Benchmark reissued a “buy” rating and set a $18.00 target price on shares of Warner Bros. Discovery in a research note on Wednesday, February 26th. Wolfe Research raised Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research note on Monday, November 11th. Needham & Company LLC reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a research report on Friday, February 28th. Citigroup increased their price target on Warner Bros. Discovery from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, The Goldman Sachs Group upped their target price on shares of Warner Bros. Discovery from $9.50 to $10.75 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Warner Bros. Discovery presently has an average rating of “Moderate Buy” and an average target price of $11.91.

Warner Bros. Discovery Trading Up 3.5 %

Shares of WBD stock opened at $11.07 on Friday. The stock has a market capitalization of $27.16 billion, a P/E ratio of -2.42, a P/E/G ratio of 8.64 and a beta of 1.48. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. The firm’s 50 day moving average is $10.39 and its 200 day moving average is $9.38. 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 posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.30). The business had revenue of $10.03 billion during the quarter, compared to analysts’ expectations of $10.16 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. Research analysts expect that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

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.