Korea Investment CORP Acquires 412,647 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Korea Investment CORP increased its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 32.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,692,858 shares of the company's stock after purchasing an additional 412,647 shares during the quarter. Korea Investment CORP owned approximately 0.07% of Warner Bros. Discovery worth $17,894,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of WBD. Contrarius Group Holdings Ltd purchased a new position in shares of Warner Bros. Discovery during the fourth quarter valued at $168,930,000. State Street Corp boosted its position in Warner Bros. Discovery by 4.1% during the 3rd quarter. State Street Corp now owns 151,285,963 shares of the company's stock worth $1,248,109,000 after acquiring an additional 5,898,611 shares during the period. Amundi grew its stake in Warner Bros. Discovery by 108.1% during the 4th quarter. Amundi now owns 10,151,114 shares of the company's stock valued at $102,120,000 after acquiring an additional 5,272,717 shares in the last quarter. Pine Valley Investments Ltd Liability Co purchased a new position in Warner Bros. Discovery during the 4th quarter valued at about $23,825,000. Finally, LBP AM SA acquired a new position in shares of Warner Bros. Discovery in the 4th quarter valued at about $21,032,000. Institutional investors and hedge funds own 59.95% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Barclays boosted their price objective on shares of Warner Bros. Discovery from $10.00 to $12.00 and gave the company an "equal weight" rating in a research report on Friday, February 28th. Moffett Nathanson raised shares of Warner Bros. Discovery from a "neutral" rating to a "buy" rating and upped their price target for the stock from $9.00 to $13.00 in a research note on Tuesday, January 21st. 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. Citigroup boosted their target price on Warner Bros. Discovery from $13.00 to $15.00 and gave the company a "buy" rating in a research note on Wednesday, March 5th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Warner Bros. Discovery in a research note on Friday, February 28th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, Warner Bros. Discovery presently has a consensus rating of "Moderate Buy" and an average target price of $11.91.

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Warner Bros. Discovery Stock Performance

Warner Bros. Discovery stock traded down $0.52 on Tuesday, reaching $10.21. 42,213,550 shares of the stock were exchanged, compared to its average volume of 31,676,059. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $12.70. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. The stock has a market cap of $25.06 billion, a PE ratio of -2.23, a PEG ratio of 8.64 and a beta of 1.48. The firm has a fifty day moving average price of $10.54 and a two-hundred day moving average price of $9.75.

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

Insider Activity at Warner Bros. Discovery

In other news, Director Piazza Samuel A. Jr. Di bought 17,346 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was acquired 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 owns 159,932 shares of the company's stock, valued at $1,824,824.12. This trade represents a 12.17 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.80% of the stock is owned by corporate insiders.

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.