Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Purchased by Ninety One UK Ltd

Ninety One UK Ltd raised its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 48.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 487,021 shares of the company’s stock after purchasing an additional 159,711 shares during the quarter. Ninety One UK Ltd’s holdings in Warner Bros. Discovery were worth $5,148,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WBD. Sugar Maple Asset Management LLC purchased a new stake in shares of Warner Bros. Discovery during the fourth quarter worth $33,000. New Wave Wealth Advisors LLC acquired a new stake in shares of Warner Bros. Discovery in the fourth quarter valued at $37,000. Rosenberg Matthew Hamilton raised its stake in shares of Warner Bros. Discovery by 448.3% in the fourth quarter. Rosenberg Matthew Hamilton now owns 4,578 shares of the company’s stock valued at $48,000 after acquiring an additional 3,743 shares in the last quarter. Larson Financial Group LLC raised its stake in shares of Warner Bros. Discovery by 54.1% in the third quarter. Larson Financial Group LLC now owns 4,998 shares of the company’s stock valued at $41,000 after acquiring an additional 1,754 shares in the last quarter. Finally, Future Financial Wealth Managment LLC acquired a new stake in shares of Warner Bros. Discovery in the third quarter valued at $41,000. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Performance

NASDAQ WBD opened at $10.19 on Thursday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. Warner Bros. Discovery, Inc. has a 52-week low of $6.64 and a 52-week high of $12.70. The business’s 50-day moving average price is $10.46 and its 200 day moving average price is $8.96. The firm has a market cap of $25.00 billion, a P/E ratio of -2.22, a P/E/G ratio of 6.36 and a beta of 1.49.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.12. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The firm had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.79 billion. During the same quarter last year, the company posted ($0.17) earnings per share. The business’s revenue was down 3.6% on a year-over-year basis. On average, equities research analysts expect that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on WBD. Bank of America reiterated a “buy” rating and issued a $14.00 price objective on shares of Warner Bros. Discovery in a research note on Thursday, December 12th. Guggenheim increased their price objective on Warner Bros. Discovery from $11.00 to $12.50 and gave the company a “buy” rating in a research note on Thursday, December 12th. Wolfe Research upgraded Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research note on Monday, November 11th. The Goldman Sachs Group raised their price target on Warner Bros. Discovery from $9.50 to $10.75 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Finally, Barrington Research restated an “outperform” rating and issued a $16.00 price target on shares of Warner Bros. Discovery in a research note on Friday, December 13th. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $11.76.

Insider Buying and Selling

In related news, insider Savalle Sims sold 169,436 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider now owns 599,317 shares in the company, valued at $7,407,558.12. This trade represents a 22.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.80% of the company’s stock.

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.