Handelsbanken Fonder AB Grows Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Handelsbanken Fonder AB increased its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 62.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 589,484 shares of the company’s stock after acquiring an additional 226,456 shares during the period. Handelsbanken Fonder AB’s holdings in Warner Bros. Discovery were worth $6,231,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Stonebridge Financial Group LLC purchased a new stake in shares of Warner Bros. Discovery during the fourth quarter worth about $26,000. Sugar Maple Asset Management LLC purchased a new stake in shares of Warner Bros. Discovery during the fourth quarter worth about $33,000. New Wave Wealth Advisors LLC purchased a new stake in shares of Warner Bros. Discovery during the fourth quarter worth about $37,000. Rosenberg Matthew Hamilton grew its position in shares of Warner Bros. Discovery by 448.3% during the fourth quarter. Rosenberg Matthew Hamilton now owns 4,578 shares of the company’s stock worth $48,000 after purchasing an additional 3,743 shares in the last quarter. Finally, Larson Financial Group LLC grew its holdings in Warner Bros. Discovery by 54.1% during the 3rd quarter. Larson Financial Group LLC now owns 4,998 shares of the company’s stock valued at $41,000 after buying an additional 1,754 shares in the last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Price Performance

Shares of WBD stock opened at $10.78 on Friday. 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. The firm has a market capitalization of $26.45 billion, a P/E ratio of -2.35, a P/E/G ratio of 8.64 and a beta of 1.49. The stock has a 50 day moving average price of $10.33 and a 200 day moving average price of $9.13.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Barrington Research restated an “outperform” rating and set a $16.00 price target on shares of Warner Bros. Discovery in a report on Friday, December 13th. Raymond James raised their price target on Warner Bros. Discovery from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Friday, November 8th. 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 report on Thursday, December 19th. JPMorgan Chase & Co. raised their price target on Warner Bros. Discovery from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Tuesday, January 14th. Finally, Bank of America restated a “buy” rating and set a $14.00 price target on shares of Warner Bros. Discovery in a report on Thursday, December 12th. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.76.

Insider Buying and Selling

In other Warner Bros. Discovery news, insider Savalle Sims sold 169,436 shares of Warner Bros. Discovery stock in a transaction on Friday, December 13th. The stock was sold at an average price of $12.36, for a total transaction of $2,094,228.96. Following the completion of the sale, the insider now directly owns 599,317 shares of the company’s stock, valued at $7,407,558.12. The trade was a 22.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.80% of the stock is owned by corporate insiders.

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.