Avanza Fonder AB Acquires New Shares in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Avanza Fonder AB acquired a new stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 158,109 shares of the company's stock, valued at approximately $1,671,000.

A number of other institutional investors also recently bought and sold shares of WBD. Principal Financial Group Inc. boosted its stake in shares of Warner Bros. Discovery by 3.1% during the 3rd quarter. Principal Financial Group Inc. now owns 2,579,571 shares of the company's stock worth $21,281,000 after acquiring an additional 78,653 shares during the last quarter. Hauser Brothers GmbH lifted its position in Warner Bros. Discovery by 56.1% during the third quarter. Hauser Brothers GmbH now owns 1,225,000 shares of the company's stock valued at $10,106,000 after purchasing an additional 440,000 shares in the last quarter. Private Management Group Inc. grew its holdings in Warner Bros. Discovery by 37.7% during the third quarter. Private Management Group Inc. now owns 6,886,143 shares of the company's stock valued at $56,811,000 after purchasing an additional 1,886,868 shares during the period. Erste Asset Management GmbH purchased a new stake in Warner Bros. Discovery in the third quarter worth about $1,474,000. Finally, Blueshift Asset Management LLC bought a new position in shares of Warner Bros. Discovery in the third quarter worth about $588,000. Institutional investors own 59.95% of the company's stock.

Analyst Upgrades and Downgrades

WBD has been the subject of a number of recent research reports. Barclays boosted their price objective on Warner Bros. Discovery from $8.00 to $10.00 and gave the company an "equal weight" rating in a research note on Friday, November 8th. Bank of America reiterated a "buy" rating and issued a $14.00 price target on shares of Warner Bros. Discovery in a research report on Thursday, December 12th. Rosenblatt Securities raised their price objective on shares of Warner Bros. Discovery from $9.00 to $13.00 and gave the company a "neutral" rating in a research report on Friday, December 13th. JPMorgan Chase & Co. upped their target price on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a "neutral" rating in a report on Tuesday, January 14th. Finally, Guggenheim raised their price target on Warner Bros. Discovery from $11.00 to $12.50 and gave the company a "buy" rating in a report on Thursday, December 12th. Eleven analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $11.56.

Insider Activity at Warner Bros. Discovery

In other Warner Bros. Discovery news, insider Savalle Sims sold 169,436 shares of the firm's stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $12.36, for a total value of $2,094,228.96. Following the completion of the sale, the insider now owns 599,317 shares of the company's stock, valued at $7,407,558.12. This trade represents a 22.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.80% of the stock is currently owned by insiders.

Warner Bros. Discovery Price Performance

Shares of NASDAQ:WBD traded up $0.05 on Friday, reaching $9.52. The company's stock had a trading volume of 19,351,313 shares, compared to its average volume of 22,680,758. The company has a 50-day simple moving average of $10.37 and a 200 day simple moving average of $8.74. 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 market cap of $23.35 billion, a P/E ratio of -2.08, a PEG ratio of 9.12 and a beta of 1.50. 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 data on Thursday, November 7th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.12. The company had revenue of $9.62 billion for the quarter, compared to analysts' expectations of $9.79 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The firm's revenue for the quarter was down 3.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.17) earnings per share. As a group, equities research analysts anticipate that Warner Bros. Discovery, Inc. will post -4.36 EPS 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.