Contrarius Group Holdings Ltd Buys Shares of 15,982,000 Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Contrarius Group Holdings Ltd acquired a new position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 15,982,000 shares of the company's stock, valued at approximately $168,930,000. Warner Bros. Discovery accounts for about 10.3% of Contrarius Group Holdings Ltd's portfolio, making the stock its largest position. Contrarius Group Holdings Ltd owned 0.65% of Warner Bros. Discovery as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of WBD. State Street Corp grew its stake in Warner Bros. Discovery by 4.1% during the third quarter. State Street Corp now owns 151,285,963 shares of the company's stock worth $1,248,109,000 after buying an additional 5,898,611 shares during the period. Sessa Capital IM L.P. boosted its position 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 worth $234,386,000 after purchasing an additional 5,625,545 shares during the period. Amundi increased its holdings in Warner Bros. Discovery by 108.1% in the 4th quarter. Amundi now owns 10,151,114 shares of the company's stock valued at $102,120,000 after purchasing an additional 5,272,717 shares in the last quarter. Pine Valley Investments Ltd Liability Co purchased a new position in Warner Bros. Discovery in the fourth quarter valued at about $23,825,000. Finally, LBP AM SA purchased a new position in Warner Bros. Discovery in the fourth quarter valued at about $21,032,000. 59.95% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were purchased at an average cost of $11.41 per share, for a total transaction 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 acquisition 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 company insiders.

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Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Moffett Nathanson upgraded Warner Bros. Discovery from a "neutral" rating to a "buy" rating and increased their target price for the company from $9.00 to $13.00 in a research note on Tuesday, January 21st. Guggenheim boosted their target price on shares of Warner Bros. Discovery from $11.00 to $12.50 and gave the stock a "buy" rating in a research report on Thursday, December 12th. Needham & Company LLC reaffirmed a "hold" rating on shares of Warner Bros. Discovery in a report on Friday, February 28th. Citigroup boosted their price objective on shares of Warner Bros. Discovery from $13.00 to $15.00 and gave the stock a "buy" rating in a report on Wednesday, March 5th. Finally, Benchmark restated a "buy" rating and set a $18.00 target price on shares of Warner Bros. Discovery in a research note on Wednesday, February 26th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $11.91.

Warner Bros. Discovery Stock Performance

Shares of NASDAQ WBD traded up $0.23 during midday trading on Monday, hitting $10.97. The company's stock had a trading volume of 43,659,532 shares, compared to its average volume of 30,449,735. 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, Inc. has a 1-year low of $6.64 and a 1-year high of $12.70. The firm's fifty day moving average price is $10.42 and its 200-day moving average price is $9.62. The firm has a market cap of $26.93 billion, a P/E ratio of -2.40, a P/E/G ratio of 8.64 and a beta of 1.48.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued its 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). The company had revenue of $10.03 billion during the quarter, compared to analyst estimates of $10.16 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. On average, sell-side analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

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.