Bank Julius Baer & Co. Ltd Zurich Decreases Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Bank Julius Baer & Co. Ltd Zurich reduced its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 9.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,842,580 shares of the company's stock after selling 422,427 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich owned 0.16% of Warner Bros. Discovery worth $43,095,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp boosted its holdings in Warner Bros. Discovery by 4.1% during the 3rd quarter. State Street Corp now owns 151,285,963 shares of the company's stock valued at $1,248,109,000 after acquiring an additional 5,898,611 shares during the period. Sessa Capital IM L.P. boosted its holdings in Warner Bros. Discovery by 24.7% during the 3rd quarter. Sessa Capital IM L.P. now owns 28,410,428 shares of the company's stock valued at $234,386,000 after acquiring an additional 5,625,545 shares during the period. Pine Valley Investments Ltd Liability Co purchased a new stake in Warner Bros. Discovery during the 4th quarter valued at about $23,825,000. Coronation Fund Managers Ltd. boosted its holdings in 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 acquiring an additional 1,981,050 shares during the period. Finally, Worldquant Millennium Advisors LLC boosted its holdings in Warner Bros. Discovery by 110.1% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 3,422,929 shares of the company's stock valued at $28,239,000 after acquiring an additional 1,793,404 shares during the period. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Rosenblatt Securities restated a "neutral" rating and set a $13.00 target price on shares of Warner Bros. Discovery in a report on Friday. KeyCorp increased their target price on Warner Bros. Discovery from $11.00 to $14.00 and gave the company an "overweight" rating in a report on Tuesday, December 10th. The Goldman Sachs Group increased their price objective on Warner Bros. Discovery from $9.50 to $10.75 and gave the stock a "neutral" rating in a report on Thursday, December 19th. Barrington Research reissued an "outperform" rating and set a $16.00 target price on shares of Warner Bros. Discovery in a research note on Wednesday. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Warner Bros. Discovery in a research note on Friday, February 28th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $11.91.

Insider Transactions at Warner Bros. Discovery

In related news, Director Piazza Samuel A. Jr. Di purchased 17,346 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were purchased at an average cost 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 trade represents a 12.17 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Savalle Sims sold 169,436 shares of the business'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 sale, the insider now directly owns 599,317 shares in the company, valued at approximately $7,407,558.12. This represents a 22.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.80% of the company's stock.

Warner Bros. Discovery Stock Up 3.5 %

Warner Bros. Discovery stock traded up $0.37 during trading hours on Friday, hitting $11.07. 49,417,596 shares of the stock traded hands, compared to its average volume of 30,151,116. The firm's 50-day moving average price is $10.39 and its two-hundred day moving average price is $9.39. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. The company has a market cap of $27.16 billion, a PE ratio of -2.42, a PEG ratio of 8.64 and a beta of 1.48. Warner Bros. Discovery, Inc. has a one year low of $6.64 and a one year 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) 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 company had revenue of $10.03 billion during the quarter, compared to the consensus estimate of $10.16 billion. On average, research analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

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.