17,479,429 Shares in Warner Bros. Discovery, Inc. (NASDAQ:WBD) Acquired by Norges Bank

Norges Bank acquired a new position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 17,479,429 shares of the company’s stock, valued at approximately $198,916,000. Norges Bank owned approximately 0.72% of Warner Bros. Discovery at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Fortis Group Advisors LLC bought a new position in Warner Bros. Discovery during the 3rd quarter valued at $25,000. Pacifica Partners Inc. lifted its holdings in shares of Warner Bros. Discovery by 118.2% in the fourth quarter. Pacifica Partners Inc. now owns 2,483 shares of the company’s stock valued at $27,000 after purchasing an additional 1,345 shares in the last quarter. Milestone Investment Advisors LLC purchased a new stake in shares of Warner Bros. Discovery in the third quarter valued at $28,000. Headinvest LLC purchased a new stake in shares of Warner Bros. Discovery in the third quarter valued at $28,000. Finally, Systematic Alpha Investments LLC purchased a new stake in shares of Warner Bros. Discovery in the third quarter valued at $31,000. 59.95% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on WBD shares. Barrington Research restated an “outperform” rating and issued a $18.00 target price on shares of Warner Bros. Discovery in a report on Thursday, May 9th. Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a report on Friday, May 10th. KeyCorp upgraded Warner Bros. Discovery from a “sector weight” rating to an “overweight” rating and set a $11.00 price objective for the company in a report on Friday, May 10th. Benchmark reiterated a “buy” rating and set a $20.00 price objective on shares of Warner Bros. Discovery in a report on Monday, March 4th. Finally, Morgan Stanley cut their price objective on Warner Bros. Discovery from $14.00 to $10.00 and set an “equal weight” rating for the company in a report on Monday, February 26th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $13.32.

Warner Bros. Discovery Price Performance

WBD stock opened at $8.06 on Thursday. Warner Bros. Discovery, Inc. has a twelve month low of $7.34 and a twelve month high of $14.76. The business’s 50-day simple moving average is $8.31 and its 200 day simple moving average is $9.67. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.82 and a quick ratio of 0.82.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.16). The business had revenue of $9.96 billion for the quarter, compared to the consensus estimate of $10.22 billion. Warner Bros. Discovery had a negative return on equity of 6.58% and a negative net margin of 7.45%. The firm’s revenue for the quarter was down 6.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.18 EPS. Sell-side analysts predict that Warner Bros. Discovery, Inc. will post -0.38 EPS for the current fiscal year.

Warner Bros. Discovery Company 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.