Geode Capital Management LLC Purchases 1,991,441 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Geode Capital Management LLC boosted its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 3.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 57,441,931 shares of the company's stock after buying an additional 1,991,441 shares during the period. Geode Capital Management LLC owned approximately 2.34% of Warner Bros. Discovery worth $605,633,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Stonebridge Financial Group LLC acquired a new stake in shares of Warner Bros. Discovery in the 4th quarter worth about $26,000. SRS Capital Advisors Inc. raised its stake in shares of Warner Bros. Discovery by 313.4% in the fourth quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company's stock worth $27,000 after purchasing an additional 1,940 shares during the last quarter. Graney & King LLC bought a new position in shares of Warner Bros. Discovery in the fourth quarter valued at approximately $28,000. Ethos Financial Group LLC bought a new stake in Warner Bros. Discovery during the fourth quarter worth $29,000. Finally, Briaud Financial Planning Inc lifted its stake in Warner Bros. Discovery by 258.1% during the 4th quarter. Briaud Financial Planning Inc now owns 2,775 shares of the company's stock valued at $29,000 after acquiring an additional 2,000 shares in the last quarter. 59.95% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Warner Bros. Discovery news, Director Piazza Samuel A. Jr. Di bought 17,346 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were acquired at an average cost of $11.41 per share, for a total transaction 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.80% of the company's stock.

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Warner Bros. Discovery Stock Performance

Shares of NASDAQ:WBD traded up $1.57 during trading on Wednesday, hitting $9.26. 74,750,774 shares of the company were exchanged, compared to its average volume of 32,318,355. 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 52-week low of $6.64 and a 52-week high of $12.70. The company has a market cap of $22.73 billion, a PE ratio of -2.02, a P/E/G ratio of 8.64 and a beta of 1.43. The stock has a 50 day moving average of $10.29 and a 200 day moving average of $9.76.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last posted its earnings results 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 net margin of 28.34% and a negative return on equity of 27.56%. The company had revenue of $10.03 billion for the quarter, compared to analysts' expectations of $10.16 billion. As a group, equities research analysts predict that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on WBD. Barclays reduced their target price on shares of Warner Bros. Discovery from $12.00 to $7.00 and set an "equal weight" rating for the company in a research note on Tuesday. Citigroup increased their price objective on shares of Warner Bros. Discovery from $13.00 to $15.00 and gave the company a "buy" rating in a research note on Wednesday, March 5th. Rosenblatt Securities restated a "neutral" rating and issued a $13.00 target price on shares of Warner Bros. Discovery in a research note on Friday, March 7th. Benchmark reaffirmed a "buy" rating and set a $18.00 price target on shares of Warner Bros. Discovery in a research report on Wednesday, February 26th. Finally, KeyCorp lifted their price target on Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an "overweight" rating in a report on Tuesday, December 10th. 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 stock presently has an average rating of "Moderate Buy" and an average target price of $11.71.

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.