Assenagon Asset Management S.A. Increases Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Assenagon Asset Management S.A. lifted its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 275.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,317,246 shares of the company's stock after acquiring an additional 966,444 shares during the quarter. Assenagon Asset Management S.A. owned 0.05% of Warner Bros. Discovery worth $13,923,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. State Street Corp grew its stake in shares of Warner Bros. Discovery by 4.1% during the 3rd quarter. State Street Corp now owns 151,285,963 shares of the company's stock worth $1,248,109,000 after purchasing an additional 5,898,611 shares during the period. Sessa Capital IM L.P. increased its holdings in Warner Bros. Discovery by 24.7% in the third quarter. Sessa Capital IM L.P. now owns 28,410,428 shares of the company's stock valued at $234,386,000 after buying an additional 5,625,545 shares in the last quarter. Mackenzie Financial Corp lifted its position in shares of Warner Bros. Discovery by 1,216.7% during the 2nd quarter. Mackenzie Financial Corp now owns 3,009,558 shares of the company's stock valued at $22,391,000 after acquiring an additional 2,780,986 shares during the period. Drexel Morgan & Co. grew its holdings in shares of Warner Bros. Discovery by 43.5% in the 3rd quarter. Drexel Morgan & Co. now owns 6,600,463 shares of the company's stock worth $54,454,000 after acquiring an additional 2,000,000 shares during the period. Finally, Clifford Capital Partners LLC purchased a new position in Warner Bros. Discovery in the 2nd quarter valued at approximately $14,760,000. 59.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Warner Bros. Discovery

In other Warner Bros. Discovery news, insider Savalle Sims sold 169,436 shares of the company's stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $12.36, for a total value of $2,094,228.96. Following the completion of the transaction, the insider now owns 599,317 shares in the company, valued at $7,407,558.12. This represents a 22.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.80% of the stock is owned by insiders.

Warner Bros. Discovery Trading Up 0.5 %

Shares of NASDAQ:WBD traded up $0.05 during trading on Friday, reaching $9.52. 19,351,313 shares of the stock were exchanged, compared to its average volume of 22,680,758. The firm's 50-day moving average price is $10.37 and its 200 day moving average price is $8.73. The firm has a market cap of $23.35 billion, a price-to-earnings ratio of -2.08, a price-to-earnings-growth ratio of 9.12 and a beta of 1.50. Warner Bros. Discovery, Inc. has a 12-month low of $6.64 and a 12-month high of $12.70. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.12. The company had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.79 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The business's quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.17) earnings per share. On average, sell-side analysts anticipate that Warner Bros. Discovery, Inc. will post -4.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Rosenblatt Securities boosted their price objective on shares of Warner Bros. Discovery from $9.00 to $13.00 and gave the stock a "neutral" rating in a research report on Friday, December 13th. Wolfe Research upgraded Warner Bros. Discovery from an "underperform" rating to a "peer perform" rating in a research report on Monday, November 11th. 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. Macquarie lifted their price objective on Warner Bros. Discovery from $8.00 to $9.00 and gave the stock a "neutral" rating in a research report on Friday, November 8th. Finally, Bank of America reaffirmed a "buy" rating and set a $14.00 price target on shares of Warner Bros. Discovery in a research note on Thursday, December 12th. Eleven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $11.56.

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.