302,466 Shares in Warner Bros. Discovery, Inc. (NASDAQ:WBD) Purchased by S&CO Inc.

S&CO Inc. purchased a new position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 302,466 shares of the company’s stock, valued at approximately $3,197,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in WBD. State Street Corp lifted its position in Warner Bros. Discovery by 4.1% in the third quarter. State Street Corp now owns 151,285,963 shares of the company’s stock valued at $1,248,109,000 after purchasing an additional 5,898,611 shares during the period. Sessa Capital IM L.P. lifted its position in Warner Bros. Discovery by 24.7% in 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 lifted its position in Warner Bros. Discovery by 108.1% in the fourth quarter. Amundi now owns 10,151,114 shares of the company’s stock valued at $102,120,000 after purchasing an additional 5,272,717 shares during the period. Pine Valley Investments Ltd Liability Co acquired a new stake in Warner Bros. Discovery in the fourth quarter valued at about $23,825,000. Finally, Coronation Fund Managers Ltd. lifted its position in Warner Bros. Discovery by 54.1% in the fourth quarter. Coronation Fund Managers Ltd. now owns 5,644,290 shares of the company’s stock valued at $59,660,000 after purchasing an additional 1,981,050 shares during the period. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Insiders Place Their Bets

In other news, Director Piazza Samuel A. Jr. Di bought 17,346 shares of the stock in a transaction on Monday, March 3rd. The stock was purchased at an average cost of $11.41 per share, with a total value of $197,917.86. Following the purchase, the director now owns 159,932 shares of the company’s stock, valued at approximately $1,824,824.12. The trade was a 12.17 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, insider Savalle Sims sold 169,436 shares of Warner Bros. Discovery stock in a transaction that occurred 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 ownership of the stock. The disclosure for this sale can be found here. 1.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on WBD shares. Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a research report on Friday, February 28th. Benchmark restated a “buy” rating and issued a $18.00 price objective on shares of Warner Bros. Discovery in a research report on Wednesday, February 26th. Bank of America restated a “buy” rating and issued a $14.00 price objective on shares of Warner Bros. Discovery in a research report on Thursday, December 12th. Guggenheim raised their price objective on shares of Warner Bros. Discovery from $11.00 to $12.50 and gave the company a “buy” rating in a research report on Thursday, December 12th. Finally, JPMorgan Chase & Co. lifted 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 report on Tuesday, January 14th. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $11.91.

Warner Bros. Discovery Trading Down 4.3 %

Shares of Warner Bros. Discovery stock opened at $10.59 on Tuesday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. Warner Bros. Discovery, Inc. has a 1 year low of $6.64 and a 1 year high of $12.70. The company has a market capitalization of $25.98 billion, a P/E ratio of -2.31, a P/E/G ratio of 8.64 and a beta of 1.48. The business has a 50 day moving average price of $10.39 and a 200 day moving average price of $9.41.

Warner Bros. Discovery (NASDAQ:WBD) last released its 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 during the quarter, compared to analysts’ expectations of $10.16 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. Sell-side analysts anticipate 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.