Mitsubishi UFJ Trust & Banking Corp Sells 36,464 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Mitsubishi UFJ Trust & Banking Corp trimmed its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 3.4% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,035,559 shares of the company's stock after selling 36,464 shares during the period. Mitsubishi UFJ Trust & Banking Corp's holdings in Warner Bros. Discovery were worth $10,946,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Contrarius Group Holdings Ltd purchased a new position in shares of Warner Bros. Discovery in the 4th quarter worth about $168,930,000. State Street Corp boosted its stake in Warner Bros. Discovery by 4.1% in the third quarter. State Street Corp now owns 151,285,963 shares of the company's stock valued at $1,248,109,000 after acquiring an additional 5,898,611 shares during the last quarter. Amundi grew its position in shares of 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 during the period. Pine Valley Investments Ltd Liability Co purchased a new stake in shares of Warner Bros. Discovery during the 4th quarter worth approximately $23,825,000. Finally, LBP AM SA bought a new stake in shares of Warner Bros. Discovery in the 4th quarter worth approximately $21,032,000. Hedge funds and other institutional investors own 59.95% of the company's stock.

Analyst Ratings Changes

Several equities analysts have weighed in on WBD shares. Barrington Research reissued an "outperform" rating and set a $16.00 price objective on shares of Warner Bros. Discovery in a report on Wednesday, March 5th. Barclays increased their price target on Warner Bros. Discovery from $10.00 to $12.00 and gave the stock an "equal weight" rating in a research note on Friday, February 28th. Moffett Nathanson upgraded 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 research note on Tuesday, January 21st. JPMorgan Chase & Co. upped their price objective on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the company a "neutral" rating in a report on Tuesday, January 14th. Finally, Benchmark reiterated a "buy" rating and issued a $18.00 target price on shares of Warner Bros. Discovery in a research note on Wednesday, February 26th. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Warner Bros. Discovery has a consensus rating of "Moderate Buy" and an average price target of $11.91.

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Warner Bros. Discovery Price Performance

NASDAQ WBD traded up $0.30 during trading on Wednesday, reaching $10.51. The company's stock had a trading volume of 26,348,704 shares, compared to its average volume of 31,694,332. The firm has a fifty day moving average of $10.55 and a 200 day moving average of $9.76. 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 capitalization of $25.80 billion, a PE ratio of -2.29, a P/E/G ratio of 8.64 and a beta of 1.48. 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 (NASDAQ:WBD - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $10.16 billion. Analysts expect that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Insider Transactions at Warner Bros. Discovery

In other news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was purchased at an average cost of $11.41 per share, for a total transaction of $197,917.86. Following the acquisition, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.80% of the company's stock.

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.