Avanza Fonder AB Takes $1.67 Million Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Avanza Fonder AB bought a new position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 158,109 shares of the company’s stock, valued at approximately $1,671,000.

Several other institutional investors have also bought and sold shares of WBD. State Street Corp increased its holdings in shares of Warner Bros. Discovery by 4.1% during the third quarter. State Street Corp now owns 151,285,963 shares of the company’s stock worth $1,248,109,000 after buying an additional 5,898,611 shares in the last quarter. Sessa Capital IM L.P. grew its position in Warner Bros. Discovery by 24.7% during the 3rd quarter. Sessa Capital IM L.P. now owns 28,410,428 shares of the company’s stock worth $234,386,000 after acquiring an additional 5,625,545 shares during the last quarter. Mackenzie Financial Corp increased its holdings in Warner Bros. Discovery by 1,216.7% during the 2nd quarter. Mackenzie Financial Corp now owns 3,009,558 shares of the company’s stock valued at $22,391,000 after purchasing an additional 2,780,986 shares in the last quarter. Drexel Morgan & Co. raised its position in Warner Bros. Discovery by 43.5% in the 3rd quarter. Drexel Morgan & Co. now owns 6,600,463 shares of the company’s stock valued at $54,454,000 after purchasing an additional 2,000,000 shares during the last quarter. Finally, Clifford Capital Partners LLC acquired a new position in Warner Bros. Discovery in the second quarter worth $14,760,000. Institutional investors and hedge funds own 59.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Barrington Research reaffirmed an “outperform” rating and issued a $16.00 price target on shares of Warner Bros. Discovery in a report on Friday, December 13th. Rosenblatt Securities boosted their target price on shares of Warner Bros. Discovery from $9.00 to $13.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. JPMorgan Chase & Co. increased their price target on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a research report on Thursday, October 10th. Finally, KeyCorp increased their price objective on Warner Bros. Discovery from $11.00 to $14.00 and gave the company an “overweight” rating in a research report on Tuesday, December 10th. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Warner Bros. Discovery currently has a consensus rating of “Hold” and an average target price of $11.56.

Warner Bros. Discovery Price Performance

WBD opened at $9.52 on Friday. The stock has a market cap of $23.35 billion, a P/E ratio of -2.08, a P/E/G ratio of 9.12 and a beta of 1.50. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. The company has a fifty day simple moving average of $10.37 and a 200 day simple moving average of $8.73.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.79 billion. During the same period in the prior year, the company earned ($0.17) earnings per share. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. On average, research analysts expect that Warner Bros. Discovery, Inc. will post -4.36 EPS for the current year.

Insiders Place Their Bets

In other news, insider Savalle Sims sold 169,436 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $12.36, for a total value of $2,094,228.96. Following the sale, the insider now directly owns 599,317 shares in the company, valued at $7,407,558.12. The trade was a 22.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.80% of the company’s stock.

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.