34,267,713 Shares in Warner Bros. Discovery, Inc. (NASDAQ:WBD) Acquired by Norges Bank

Norges Bank bought a new stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 34,267,713 shares of the company’s stock, valued at approximately $362,210,000. Norges Bank owned 1.40% of Warner Bros. Discovery as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the company. Hauser Brothers GmbH grew its stake in Warner Bros. Discovery by 56.1% during the third quarter. Hauser Brothers GmbH now owns 1,225,000 shares of the company’s stock worth $10,106,000 after purchasing an additional 440,000 shares during the period. Principal Financial Group Inc. lifted its stake in 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 buying an additional 78,653 shares during the period. Erste Asset Management GmbH bought a new position in shares of Warner Bros. Discovery during the 3rd quarter worth approximately $1,474,000. Coronation Fund Managers Ltd. grew its position in shares of 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 worth $59,660,000 after buying an additional 1,981,050 shares during the period. Finally, SVB Wealth LLC bought a new stake in shares of Warner Bros. Discovery in the 4th quarter valued at $168,000. Institutional investors own 59.95% of the company’s stock.

Insider Activity

In other news, Director Piazza Samuel A. Jr. Di purchased 17,346 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were purchased at an average price of $11.41 per share, with a total value of $197,917.86. Following the transaction, the director now directly owns 159,932 shares of the company’s stock, valued at approximately $1,824,824.12. This represents a 12.17 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

WBD has been the subject of several research analyst reports. Barrington Research reaffirmed an “outperform” rating and issued a $16.00 price target on shares of Warner Bros. Discovery in a research note on Wednesday, March 5th. Benchmark reaffirmed a “buy” rating and set a $18.00 price target on shares of Warner Bros. Discovery in a research note on Wednesday, February 26th. Guggenheim raised their price objective on Warner Bros. Discovery from $11.00 to $12.50 and gave the company a “buy” rating in a research note on Thursday, December 12th. Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a report on Friday, February 28th. Finally, The Goldman Sachs Group increased their target price on Warner Bros. Discovery from $9.50 to $10.75 and gave the stock a “neutral” rating in a report on Thursday, December 19th. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $11.91.

Warner Bros. Discovery Stock Down 5.8 %

WBD stock opened at $10.37 on Friday. The stock has a market cap of $25.46 billion, a P/E ratio of -2.26, 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. The stock’s fifty day simple moving average is $10.52 and its two-hundred day simple moving average is $9.70. Warner Bros. Discovery, Inc. has a 1-year low of $6.64 and a 1-year high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings results 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). 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 $10.03 billion during the quarter, compared to analysts’ expectations of $10.16 billion. Analysts expect that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

About Warner Bros. Discovery

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.