KLP Kapitalforvaltning AS Invests $7.75 Million in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

KLP Kapitalforvaltning AS purchased a new stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 732,827 shares of the company's stock, valued at approximately $7,746,000.

Other hedge funds have also made changes to their positions in the company. Stonebridge Financial Group LLC acquired a new position in Warner Bros. Discovery during the 4th quarter worth about $26,000. SRS Capital Advisors Inc. lifted its position in shares of Warner Bros. Discovery by 313.4% during 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 in the last quarter. Ethos Financial Group LLC bought a new stake in shares of Warner Bros. Discovery during the fourth quarter valued at approximately $29,000. Briaud Financial Planning Inc increased its holdings in shares of Warner Bros. Discovery by 258.1% in the fourth quarter. Briaud Financial Planning Inc now owns 2,775 shares of the company's stock valued at $29,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Sugar Maple Asset Management LLC bought a new position in Warner Bros. Discovery in the 4th quarter worth approximately $33,000. Institutional investors and hedge funds own 59.95% of the company's stock.

Warner Bros. Discovery Stock Performance

NASDAQ:WBD traded up $0.01 during mid-day trading on Tuesday, hitting $10.98. The stock had a trading volume of 37,142,808 shares, compared to its average volume of 30,449,376. The company's 50 day simple moving average is $10.45 and its 200 day simple moving average is $9.65. The stock has a market cap of $26.95 billion, a price-to-earnings ratio of -2.40, a PEG ratio of 8.64 and a beta of 1.48. 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.

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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 (EPS) 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 company had revenue of $10.03 billion for the quarter, compared to analyst estimates of $10.16 billion. On average, equities research analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on WBD shares. JPMorgan Chase & Co. upped 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. KeyCorp raised their target price on Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an "overweight" rating in a report on Tuesday, December 10th. Rosenblatt Securities reiterated a "neutral" rating and issued a $13.00 price target on shares of Warner Bros. Discovery in a research report on Friday, March 7th. Moffett Nathanson upgraded shares of Warner Bros. Discovery from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $9.00 to $13.00 in a report on Tuesday, January 21st. Finally, Barrington Research reiterated an "outperform" rating and issued a $16.00 target price on shares of Warner Bros. Discovery in a report on Wednesday, March 5th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $11.91.

Insider Transactions at Warner Bros. Discovery

In other news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of Warner Bros. Discovery stock in a transaction 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 completion of the purchase, the director now directly owns 159,932 shares of the company's stock, valued at approximately $1,824,824.12. This represents a 12.17 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.80% of the company's stock.

About Warner Bros. Discovery

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.