Iridian Asset Management LLC CT Acquires 259,069 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Iridian Asset Management LLC CT increased its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 136.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 448,784 shares of the company's stock after acquiring an additional 259,069 shares during the quarter. Warner Bros. Discovery comprises 1.3% of Iridian Asset Management LLC CT's portfolio, making the stock its 27th biggest holding. Iridian Asset Management LLC CT's holdings in Warner Bros. Discovery were worth $4,744,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Sugar Maple Asset Management LLC bought a new stake in Warner Bros. Discovery during the fourth quarter worth about $33,000. New Wave Wealth Advisors LLC acquired a new position in Warner Bros. Discovery during the fourth quarter valued at approximately $37,000. Future Financial Wealth Managment LLC bought a new stake in Warner Bros. Discovery during the third quarter worth $41,000. Larson Financial Group LLC raised its holdings in shares of Warner Bros. Discovery by 54.1% during the 3rd quarter. Larson Financial Group LLC now owns 4,998 shares of the company's stock worth $41,000 after buying an additional 1,754 shares in the last quarter. Finally, Rosenberg Matthew Hamilton lifted its position in shares of Warner Bros. Discovery by 448.3% during the 4th quarter. Rosenberg Matthew Hamilton now owns 4,578 shares of the company's stock worth $48,000 after buying an additional 3,743 shares during the last quarter. Institutional investors and hedge funds own 59.95% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on WBD shares. Macquarie boosted their target price on shares of Warner Bros. Discovery from $8.00 to $9.00 and gave the stock a "neutral" rating in a research note on Friday, November 8th. Bank of America reaffirmed a "buy" rating and issued a $14.00 target price on shares of Warner Bros. Discovery in a report on Thursday, December 12th. JPMorgan Chase & Co. lifted their price target on Warner Bros. Discovery from $9.00 to $10.00 and gave the company a "neutral" rating in a research note on Tuesday, January 14th. Barrington Research reaffirmed an "outperform" rating and issued a $16.00 price objective on shares of Warner Bros. Discovery in a research note on Friday, December 13th. Finally, Rosenblatt Securities lifted their target price on shares of Warner Bros. Discovery from $9.00 to $13.00 and gave the stock a "neutral" rating in a research report on Friday, December 13th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $11.76.

Insider Activity at Warner Bros. Discovery

In related news, insider Savalle Sims sold 169,436 shares of the business's stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $12.36, for a total value of $2,094,228.96. Following the completion of the transaction, the insider now directly owns 599,317 shares in the company, valued at $7,407,558.12. The trade was a 22.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.80% of the stock is currently owned by corporate insiders.

Warner Bros. Discovery Trading Down 1.4 %

Warner Bros. Discovery stock traded down $0.14 during trading hours on Tuesday, reaching $9.85. The stock had a trading volume of 13,706,345 shares, compared to its average volume of 25,550,605. The stock has a market cap of $24.15 billion, a PE ratio of -2.15, a PEG ratio of 7.98 and a beta of 1.49. The company has a fifty day simple moving average of $10.44 and a 200-day simple moving average of $9.00. 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.

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.