Allianz SE Acquires Shares of 260,000 Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Allianz SE acquired a new stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 260,000 shares of the company's stock, valued at approximately $2,733,000.

A number of other institutional investors have also recently made changes to their positions in WBD. Stonebridge Financial Group LLC bought a new stake in shares of Warner Bros. Discovery in the 4th quarter worth about $26,000. SRS Capital Advisors Inc. boosted its stake in Warner Bros. Discovery by 313.4% during the fourth quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company's stock worth $27,000 after buying an additional 1,940 shares during the period. Graney & King LLC purchased a new stake in shares of Warner Bros. Discovery in the fourth quarter valued at $28,000. Ethos Financial Group LLC bought a new stake in shares of Warner Bros. Discovery in the 4th quarter worth about $29,000. Finally, Briaud Financial Planning Inc boosted its stake in shares of Warner Bros. Discovery by 258.1% during the 4th quarter. Briaud Financial Planning Inc now owns 2,775 shares of the company's stock worth $29,000 after purchasing an additional 2,000 shares during the period. Hedge funds and other institutional investors own 59.95% of the company's stock.

Insider Activity at Warner Bros. Discovery

In other Warner Bros. Discovery news, Director Piazza Samuel A. Jr. Di bought 17,346 shares of Warner Bros. Discovery stock in a transaction that occurred on Monday, March 3rd. The stock was purchased at an average price of $11.41 per share, with a total value of $197,917.86. Following the completion of the acquisition, the director now directly owns 159,932 shares in the company, valued at approximately $1,824,824.12. This trade represents a 12.17 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.80% of the stock is owned by insiders.

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Warner Bros. Discovery Stock Performance

Shares of NASDAQ WBD traded down $0.98 during mid-day trading on Thursday, hitting $9.58. The stock had a trading volume of 15,794,385 shares, compared to its average volume of 31,707,534. The firm has a market cap of $23.52 billion, a PE ratio of -2.09, a PEG ratio of 8.64 and a beta of 1.48. 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 company has a 50 day moving average of $10.56 and a two-hundred day moving average of $9.76. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.30). Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The firm had revenue of $10.03 billion for the quarter, compared to analysts' expectations of $10.16 billion. Research analysts predict that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Citigroup raised their price objective on shares of Warner Bros. Discovery from $13.00 to $15.00 and gave the stock a "buy" rating in a research note on Wednesday, March 5th. Bank of America reiterated a "buy" rating and set a $14.00 target price on shares of Warner Bros. Discovery in a report on Thursday, December 12th. JPMorgan Chase & Co. increased their price objective on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the company a "neutral" rating in a research note on Tuesday, January 14th. Guggenheim lifted their price objective on shares of Warner Bros. Discovery from $11.00 to $12.50 and gave the company a "buy" rating in a report on Thursday, December 12th. Finally, The Goldman Sachs Group lifted their price target on Warner Bros. Discovery from $9.50 to $10.75 and gave the company a "neutral" rating in a report on Thursday, December 19th. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $11.91.

Warner Bros. Discovery Company 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.