Elo Mutual Pension Insurance Co Reduces Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Elo Mutual Pension Insurance Co trimmed its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 17.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 170,691 shares of the company's stock after selling 36,077 shares during the quarter. Elo Mutual Pension Insurance Co's holdings in Warner Bros. Discovery were worth $1,804,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Hauser Brothers GmbH raised its holdings in shares of Warner Bros. Discovery by 56.1% in the third quarter. Hauser Brothers GmbH now owns 1,225,000 shares of the company's stock worth $10,106,000 after buying an additional 440,000 shares during the period. Principal Financial Group Inc. grew its position in Warner Bros. Discovery by 3.1% in the 3rd quarter. Principal Financial Group Inc. now owns 2,579,571 shares of the company's stock valued at $21,281,000 after acquiring an additional 78,653 shares during the last quarter. Erste Asset Management GmbH purchased a new stake in Warner Bros. Discovery in the third quarter worth $1,474,000. Coronation Fund Managers Ltd. lifted its position in shares of Warner Bros. Discovery by 54.1% during the fourth quarter. Coronation Fund Managers Ltd. now owns 5,644,290 shares of the company's stock worth $59,660,000 after purchasing an additional 1,981,050 shares during the last quarter. Finally, SVB Wealth LLC purchased a new stake in shares of Warner Bros. Discovery during the fourth quarter valued at $168,000. 59.95% of the stock is owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Bank of America reiterated a "buy" rating and set a $14.00 price objective on shares of Warner Bros. Discovery in a report on Thursday, December 12th. Needham & Company LLC reissued a "hold" rating on shares of Warner Bros. Discovery in a research note on Friday, February 28th. JPMorgan Chase & Co. lifted their target price on Warner Bros. Discovery from $9.00 to $10.00 and gave the company a "neutral" rating in a research report on Tuesday, January 14th. Moffett Nathanson upgraded Warner Bros. Discovery from a "neutral" rating to a "buy" rating and upped their target price for the stock from $9.00 to $13.00 in a report on Tuesday, January 21st. Finally, Benchmark restated a "buy" rating and set a $18.00 price target on shares of Warner Bros. Discovery in a research note on Wednesday, February 26th. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $11.91.

Insiders Place Their Bets

In related news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were purchased at an average price of $11.41 per share, for a total transaction of $197,917.86. Following the completion of the acquisition, the director now directly owns 159,932 shares in the company, valued at $1,824,824.12. The trade was a 12.17 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.80% of the company's stock.

Warner Bros. Discovery Stock Down 8.7 %

WBD traded down $0.92 during trading on Thursday, hitting $9.64. The stock had a trading volume of 12,284,305 shares, compared to its average volume of 31,692,279. The stock has a 50 day simple moving average of $10.56 and a two-hundred day simple moving average of $9.76. 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 twelve month low of $6.64 and a twelve month high of $12.70. The company has a market capitalization of $23.66 billion, a PE ratio of -2.10, a PEG ratio of 8.64 and a beta of 1.48.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.20) earnings per share 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 business had revenue of $10.03 billion during the quarter, compared to analyst estimates of $10.16 billion. On average, research analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current 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.