Royal London Asset Management Ltd. Purchases 59,464 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Royal London Asset Management Ltd. boosted its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 6.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,009,156 shares of the company's stock after acquiring an additional 59,464 shares during the period. Royal London Asset Management Ltd.'s holdings in Warner Bros. Discovery were worth $10,667,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of WBD. State Street Corp boosted its stake in shares of Warner Bros. Discovery by 4.1% in the third 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 last quarter. EdgePoint Investment Group Inc. grew its position in shares of Warner Bros. Discovery by 2.6% during the third quarter. EdgePoint Investment Group Inc. now owns 21,396,719 shares of the company's stock worth $176,523,000 after buying an additional 541,192 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its holdings in Warner Bros. Discovery by 1.6% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 20,889,437 shares of the company's stock valued at $172,338,000 after buying an additional 329,620 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Warner Bros. Discovery by 5.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 16,547,162 shares of the company's stock valued at $174,904,000 after acquiring an additional 861,656 shares during the last quarter. Finally, Amundi grew its position in Warner Bros. Discovery by 108.1% during the 4th quarter. Amundi now owns 10,151,114 shares of the company's stock worth $102,120,000 after purchasing an additional 5,272,717 shares during the last quarter. Hedge funds and other institutional investors own 59.95% of the company's stock.

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Insider Buying and Selling

In other news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of the stock in a transaction dated Monday, March 3rd. The stock was bought at an average price of $11.41 per share, with a total value 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 $1,824,824.12. This represents a 12.17 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.80% of the stock is owned by corporate insiders.

Warner Bros. Discovery Price Performance

WBD stock traded up $0.05 during midday trading on Wednesday, reaching $11.03. The company had a trading volume of 32,248,785 shares, compared to its average volume of 30,460,993. The company has a market capitalization of $27.08 billion, a price-to-earnings ratio of -2.41, a price-to-earnings-growth 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, Inc. has a 1-year low of $6.64 and a 1-year high of $12.70. The stock has a 50 day moving average price of $10.45 and a 200-day moving average price of $9.65.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced its quarterly earnings data 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). The firm had revenue of $10.03 billion during the quarter, compared to the consensus estimate of $10.16 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. Equities research analysts expect that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Analysts Set New Price Targets

WBD has been the topic of several research reports. Barrington Research reiterated an "outperform" rating and issued a $16.00 price target on shares of Warner Bros. Discovery in a research report on Wednesday, March 5th. Benchmark reiterated a "buy" rating and issued a $18.00 target price on shares of Warner Bros. Discovery in a research report on Wednesday, February 26th. Guggenheim upped their target price on shares of Warner Bros. Discovery from $11.00 to $12.50 and gave the stock a "buy" rating in a research report on Thursday, December 12th. Citigroup lifted their price target on Warner Bros. Discovery from $13.00 to $15.00 and gave the company a "buy" rating in a research report on Wednesday, March 5th. Finally, KeyCorp increased their price target on Warner Bros. Discovery from $11.00 to $14.00 and gave the company an "overweight" rating in a research report on Tuesday, December 10th. Ten research 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 presently has a consensus rating of "Moderate Buy" and a consensus target price of $11.91.

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.