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

Norges Bank purchased a new position in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 34,267,713 shares of the company's stock, valued at approximately $362,210,000. Norges Bank owned about 1.40% of Warner Bros. Discovery at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in WBD. Hauser Brothers GmbH lifted its position in Warner Bros. Discovery by 56.1% in the 3rd quarter. Hauser Brothers GmbH now owns 1,225,000 shares of the company's stock worth $10,106,000 after buying an additional 440,000 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Warner Bros. Discovery by 3.1% in the 3rd quarter. Principal Financial Group Inc. now owns 2,579,571 shares of the company's stock valued at $21,281,000 after purchasing an additional 78,653 shares in the last quarter. Erste Asset Management GmbH bought a new position in shares of Warner Bros. Discovery during the 3rd quarter valued at $1,474,000. Coronation Fund Managers Ltd. grew its holdings 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 valued at $59,660,000 after purchasing an additional 1,981,050 shares during the last quarter. Finally, SVB Wealth LLC purchased a new position in Warner Bros. Discovery in the 4th quarter worth $168,000. Hedge funds and other institutional investors own 59.95% of the company's stock.

Warner Bros. Discovery Stock Down 8.7 %

WBD stock traded down $0.92 during midday trading on Thursday, hitting $9.64. The stock had a trading volume of 12,284,305 shares, compared to its average volume of 31,693,465. The business has a 50-day moving average of $10.56 and a two-hundred day moving average of $9.76. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a market cap of $23.66 billion, a price-to-earnings ratio of -2.10, a price-to-earnings-growth ratio of 8.64 and a beta of 1.48. 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 - Get Free Report) last announced its earnings results on Thursday, February 27th. The company reported ($0.20) EPS for the quarter, missing analysts' consensus estimates of $0.10 by ($0.30). The business had revenue of $10.03 billion for the quarter, compared to the consensus estimate of $10.16 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. As a group, equities research analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Insider Transactions at Warner Bros. Discovery

In other news, Director Piazza Samuel A. Jr. Di purchased 17,346 shares of Warner Bros. Discovery stock in a transaction that occurred on Monday, March 3rd. The stock was bought at an average price of $11.41 per share, with a total value of $197,917.86. Following the completion of the transaction, the director now directly 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on WBD shares. Moffett Nathanson raised Warner Bros. Discovery from a "neutral" rating to a "buy" rating and raised their price objective for the company from $9.00 to $13.00 in a research note on Tuesday, January 21st. KeyCorp raised their price target on Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 10th. Bank of America reaffirmed a "buy" rating and issued a $14.00 price target on shares of Warner Bros. Discovery in a research note on Thursday, December 12th. Benchmark reissued a "buy" rating and set a $18.00 price objective on shares of Warner Bros. Discovery in a research note on Wednesday, February 26th. Finally, Rosenblatt Securities reiterated a "neutral" rating and set a $13.00 price target on shares of Warner Bros. Discovery in a report on Friday, March 7th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $11.91.

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.