Fmr LLC Has $150.93 Million Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

FMR LLC grew its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 478.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,278,600 shares of the company's stock after buying an additional 11,810,191 shares during the quarter. FMR LLC owned approximately 0.58% of Warner Bros. Discovery worth $150,925,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Norges Bank bought a new stake in shares of Warner Bros. Discovery during the 4th quarter worth about $362,210,000. Contrarius Group Holdings Ltd bought a new position in shares of Warner Bros. Discovery in the fourth quarter valued at approximately $168,930,000. Amundi lifted its stake in shares of Warner Bros. Discovery by 108.1% in the fourth quarter. Amundi now owns 10,151,114 shares of the company's stock worth $102,120,000 after buying an additional 5,272,717 shares during the last quarter. Pine Valley Investments Ltd Liability Co bought a new stake in shares of Warner Bros. Discovery during the 4th quarter worth $23,825,000. Finally, Geode Capital Management LLC grew its stake in Warner Bros. Discovery by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 57,441,931 shares of the company's stock valued at $605,633,000 after buying an additional 1,991,441 shares during the last quarter. Institutional investors own 59.95% of the company's stock.

Warner Bros. Discovery Trading Up 2.9 %

Shares of WBD stock traded up $0.23 on Tuesday, reaching $8.25. 38,564,849 shares of the stock were exchanged, compared to its average volume of 32,522,531. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. Warner Bros. Discovery, Inc. has a one year low of $6.64 and a one year high of $12.70. The stock has a market cap of $20.25 billion, a PE ratio of -1.80, a P/E/G ratio of 8.64 and a beta of 1.43. The stock has a 50 day moving average price of $10.13 and a 200 day moving average price of $9.75.

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Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued its earnings results on Thursday, February 27th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.30). The business had revenue of $10.03 billion during the quarter, compared to the consensus estimate of $10.16 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. Equities research analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on WBD shares. Benchmark reaffirmed a "buy" rating and set a $18.00 price objective on shares of Warner Bros. Discovery in a research report on Wednesday, February 26th. JPMorgan Chase & Co. lifted their price objective on Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a "neutral" rating in a report on Tuesday, January 14th. KeyCorp lowered their price objective on Warner Bros. Discovery from $14.00 to $13.00 and set an "overweight" rating on the stock in a research report on Monday. Raymond James lowered their price target on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an "outperform" rating on the stock in a report on Friday, April 4th. Finally, Barclays decreased their target price on shares of Warner Bros. Discovery from $12.00 to $7.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $11.66.

Insiders Place Their Bets

In other Warner Bros. Discovery news, Director Piazza Samuel A. Jr. Di purchased 17,346 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was bought at an average cost of $11.41 per share, with a total value of $197,917.86. Following the purchase, the director now directly owns 159,932 shares of the company's stock, valued at $1,824,824.12. The trade was a 12.17 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.80% of the company's stock.

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.