Contrarius Group Holdings Ltd Acquires Shares of 15,982,000 Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Contrarius Group Holdings Ltd acquired a new stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 15,982,000 shares of the company’s stock, valued at approximately $168,930,000. Warner Bros. Discovery makes up approximately 10.3% of Contrarius Group Holdings Ltd’s portfolio, making the stock its largest position.

Other institutional investors have also added to or reduced their stakes in the company. Hauser Brothers GmbH grew its holdings in shares of Warner Bros. Discovery by 56.1% in the third quarter. Hauser Brothers GmbH now owns 1,225,000 shares of the company’s stock valued at $10,106,000 after purchasing an additional 440,000 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Warner Bros. Discovery by 3.1% in the third quarter. Principal Financial Group Inc. now owns 2,579,571 shares of the company’s stock valued at $21,281,000 after purchasing an additional 78,653 shares in the last quarter. Erste Asset Management GmbH purchased a new position in shares of Warner Bros. Discovery in the third quarter valued at $1,474,000. Blueshift Asset Management LLC purchased a new position in shares of Warner Bros. Discovery in the third quarter valued at $588,000. Finally, Natixis Advisors LLC grew its holdings in shares of Warner Bros. Discovery by 22.7% in the third quarter. Natixis Advisors LLC now owns 280,982 shares of the company’s stock valued at $2,318,000 after purchasing an additional 52,051 shares in the last quarter. 59.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Piazza Samuel A. Jr. Di purchased 17,346 shares of the business’s stock in a transaction dated 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 purchase, the director now owns 159,932 shares in the company, valued at approximately $1,824,824.12. This represents a 12.17 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.80% of the company’s stock.

Warner Bros. Discovery Stock Performance

Shares of Warner Bros. Discovery stock opened at $10.92 on Thursday. The firm has a market cap of $26.81 billion, a P/E ratio of -2.38, 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. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70. The stock’s fifty day moving average price is $10.35 and its 200-day moving average price is $9.53.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly 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). The firm had revenue of $10.03 billion for the quarter, compared to analysts’ expectations of $10.16 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. On average, equities research analysts expect that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

WBD has been the subject of a number of analyst reports. KeyCorp raised their price target on Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. Benchmark restated a “buy” rating and issued a $18.00 price target on shares of Warner Bros. Discovery in a research report on Wednesday, February 26th. JPMorgan Chase & Co. raised their price target on Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 14th. The Goldman Sachs Group raised their price target on Warner Bros. Discovery from $9.50 to $10.75 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Finally, Bank of America restated a “buy” rating and issued a $14.00 price target on shares of Warner Bros. Discovery in a research report on Thursday, December 12th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $11.91.

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.