Swiss National Bank Sells 329,100 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Swiss National Bank reduced its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 4.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,580,327 shares of the company’s stock after selling 329,100 shares during the quarter. Swiss National Bank’s holdings in Warner Bros. Discovery were worth $69,554,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of WBD. State Street Corp boosted its holdings in Warner Bros. Discovery by 4.1% during the 3rd quarter. State Street Corp now owns 151,285,963 shares of the company’s stock valued at $1,248,109,000 after acquiring an additional 5,898,611 shares during the period. Sessa Capital IM L.P. boosted its stake in shares of Warner Bros. Discovery by 24.7% during the third quarter. Sessa Capital IM L.P. now owns 28,410,428 shares of the company’s stock valued at $234,386,000 after purchasing an additional 5,625,545 shares during the period. Amundi grew its holdings in shares of Warner Bros. Discovery by 108.1% in the fourth quarter. Amundi now owns 10,151,114 shares of the company’s stock worth $102,120,000 after purchasing an additional 5,272,717 shares during the last quarter. Pine Valley Investments Ltd Liability Co purchased a new position in shares of Warner Bros. Discovery in the fourth quarter worth $23,825,000. Finally, Coronation Fund Managers Ltd. raised its holdings in Warner Bros. Discovery by 54.1% during the 4th quarter. Coronation Fund Managers Ltd. now owns 5,644,290 shares of the company’s stock valued at $59,660,000 after buying an additional 1,981,050 shares during the last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Insider Buying and Selling

In other Warner Bros. Discovery news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of Warner Bros. Discovery stock in a transaction that occurred on Monday, March 3rd. The stock was bought at an average cost of $11.41 per share, for a total transaction of $197,917.86. Following the acquisition, the director now owns 159,932 shares of the company’s stock, valued at $1,824,824.12. This represents a 12.17 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Bank of America reissued a “buy” rating and issued a $14.00 price target on shares of Warner Bros. Discovery in a report on Thursday, December 12th. Benchmark restated a “buy” rating and set a $18.00 price target on shares of Warner Bros. Discovery in a report on Wednesday, February 26th. KeyCorp increased their price objective on Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. JPMorgan Chase & Co. boosted their target price on Warner Bros. Discovery from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a research note on Friday, February 28th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $11.91.

Warner Bros. Discovery Trading Up 3.0 %

NASDAQ WBD opened at $10.19 on Friday. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70. 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 stock’s fifty day moving average price is $10.36 and its 200-day moving average price is $9.48. The stock has a market cap of $25.01 billion, a P/E ratio of -2.22, a P/E/G ratio of 8.64 and a beta of 1.48.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.30). The firm had revenue of $10.03 billion for the quarter, compared to the consensus estimate of $10.16 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. As a group, equities analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal 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.