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

Norges Bank bought a new position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 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 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Caisse Des Depots ET Consignations bought a new position in Warner Bros. Discovery during the 4th quarter worth $1,079,000. NEOS Investment Management LLC increased its position in Warner Bros. Discovery by 25.3% during the fourth quarter. NEOS Investment Management LLC now owns 307,864 shares of the company's stock worth $3,254,000 after acquiring an additional 62,112 shares during the period. UniSuper Management Pty Ltd raised its stake in Warner Bros. Discovery by 6.5% in the 4th quarter. UniSuper Management Pty Ltd now owns 245,687 shares of the company's stock worth $2,597,000 after purchasing an additional 14,991 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Warner Bros. Discovery by 4.5% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,697,288 shares of the company's stock valued at $39,080,000 after purchasing an additional 159,989 shares during the period. Finally, Korea Investment CORP grew its position in shares of Warner Bros. Discovery by 32.2% during the 4th quarter. Korea Investment CORP now owns 1,692,858 shares of the company's stock worth $17,894,000 after purchasing an additional 412,647 shares in the last quarter. Institutional investors own 59.95% of the company's stock.

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Warner Bros. Discovery Trading Down 4.8 %

Shares of WBD traded down $0.52 during mid-day trading on Tuesday, reaching $10.21. 42,213,550 shares of the company were exchanged, compared to its average volume of 31,676,059. The business has a 50 day simple moving average of $10.54 and a two-hundred day simple moving average of $9.75. 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 market capitalization of $25.06 billion, a PE ratio of -2.23, a PEG 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 issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.20) earnings per share (EPS) 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 firm had revenue of $10.03 billion during the quarter, compared to analyst estimates of $10.16 billion. On average, analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Rosenblatt Securities reiterated a "neutral" rating and issued a $13.00 price target on shares of Warner Bros. Discovery in a research report on Friday, March 7th. KeyCorp increased their target price on Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an "overweight" rating in a report on Tuesday, December 10th. Benchmark reaffirmed a "buy" rating and issued a $18.00 price target on shares of Warner Bros. Discovery in a research note on Wednesday, February 26th. Barrington Research reaffirmed an "outperform" rating and set a $16.00 price objective on shares of Warner Bros. Discovery in a research report on Wednesday, March 5th. Finally, Citigroup raised their target price on shares of Warner Bros. Discovery from $13.00 to $15.00 and gave the company a "buy" rating in a report on Wednesday, March 5th. Ten 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 price target of $11.91.

Insiders Place Their Bets

In related news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of Warner Bros. Discovery stock in a transaction dated 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 transaction, the director now directly owns 159,932 shares in the company, valued at $1,824,824.12. This represents a 12.17 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.80% of the company's stock.

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.