State of Tennessee Department of Treasury Acquires 415,632 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

State of Tennessee Department of Treasury grew its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 87.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 888,314 shares of the company's stock after buying an additional 415,632 shares during the quarter. State of Tennessee Department of Treasury's holdings in Warner Bros. Discovery were worth $9,389,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Warner Bros. Discovery by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 252,650,791 shares of the company's stock valued at $2,670,519,000 after purchasing an additional 1,658,415 shares during the period. Geode Capital Management LLC increased its position in shares of Warner Bros. Discovery by 3.6% during the fourth quarter. Geode Capital Management LLC now owns 57,441,931 shares of the company's stock valued at $605,633,000 after buying an additional 1,991,441 shares during the period. Norges Bank bought a new position in Warner Bros. Discovery in the fourth quarter worth about $362,210,000. Charles Schwab Investment Management Inc. lifted its holdings 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 worth $174,904,000 after buying an additional 861,656 shares during the period. Finally, Contrarius Group Holdings Ltd bought a new stake in Warner Bros. Discovery during the 4th quarter valued at approximately $168,930,000. 59.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Warner Bros. Discovery

In related news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were purchased 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 ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on WBD. Barrington Research reissued an "outperform" rating and issued a $16.00 target price on shares of Warner Bros. Discovery in a research report on Wednesday, March 5th. JPMorgan Chase & Co. raised their price objective on Warner Bros. Discovery from $9.00 to $10.00 and gave the company a "neutral" rating in a research report on Tuesday, January 14th. Barclays decreased their price target on shares of Warner Bros. Discovery from $12.00 to $7.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. Citigroup boosted their price objective on shares of Warner Bros. Discovery from $13.00 to $15.00 and gave the stock a "buy" rating in a research note on Wednesday, March 5th. Finally, Raymond James lowered their target price on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an "outperform" rating for the company in a report on Friday, April 4th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $12.01.

Warner Bros. Discovery Stock Performance

Shares of WBD stock traded up $0.09 on Friday, reaching $8.59. The stock had a trading volume of 24,510,405 shares, compared to its average volume of 32,999,193. 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 1 year low of $6.64 and a 1 year high of $12.70. The stock has a market cap of $21.09 billion, a P/E ratio of -1.88, a price-to-earnings-growth ratio of 8.64 and a beta of 1.43. The company has a 50 day simple moving average of $9.81 and a 200 day simple moving average of $9.77.

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

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.