Sumitomo Mitsui DS Asset Management Company Ltd Has $2.65 Million Stock Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 1.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 251,067 shares of the company’s stock after acquiring an additional 2,559 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Warner Bros. Discovery were worth $2,654,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Sugar Maple Asset Management LLC bought a new stake in shares of Warner Bros. Discovery during the 4th quarter valued at $33,000. New Wave Wealth Advisors LLC acquired a new stake in shares of Warner Bros. Discovery during the fourth quarter worth $37,000. Larson Financial Group LLC increased its holdings in Warner Bros. Discovery by 54.1% in the third quarter. Larson Financial Group LLC now owns 4,998 shares of the company’s stock valued at $41,000 after purchasing an additional 1,754 shares during the last quarter. Rosenberg Matthew Hamilton lifted its stake in Warner Bros. Discovery by 448.3% in the fourth quarter. Rosenberg Matthew Hamilton now owns 4,578 shares of the company’s stock valued at $48,000 after buying an additional 3,743 shares during the period. Finally, Brooklyn Investment Group bought a new position in Warner Bros. Discovery during the third quarter worth about $51,000. Institutional investors own 59.95% of the company’s stock.

Insider Activity

In other news, 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 transaction, the insider now directly owns 599,317 shares in the company, valued at approximately $7,407,558.12. The trade was a 22.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on WBD. Moffett Nathanson upgraded shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and increased their price target for the company from $9.00 to $13.00 in a research report on Tuesday, January 21st. Wolfe Research upgraded shares of Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a report on Monday, November 11th. KeyCorp lifted their price target on shares of Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. Macquarie upped their price objective on shares of Warner Bros. Discovery from $8.00 to $9.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Finally, Raymond James boosted their price objective on Warner Bros. Discovery from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $11.76.

Warner Bros. Discovery Stock Performance

Shares of NASDAQ WBD opened at $10.16 on Monday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a 50 day moving average price of $10.45 and a 200 day moving average price of $8.99. The stock has a market capitalization of $24.92 billion, a PE ratio of -2.22, a price-to-earnings-growth ratio of 7.98 and a beta of 1.49. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last released its earnings results on Thursday, November 7th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.12. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The business had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.79 billion. During the same period last year, the business earned ($0.17) earnings per share. The firm’s revenue was down 3.6% on a year-over-year basis. Analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share 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.