Sumitomo Mitsui Trust Group Inc. Has $53.99 Million Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 10.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,108,231 shares of the company's stock after purchasing an additional 498,689 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.21% of Warner Bros. Discovery worth $53,994,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. State Street Corp lifted its holdings 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 buying an additional 5,898,611 shares during the last quarter. Sessa Capital IM L.P. lifted its holdings in Warner Bros. Discovery by 24.7% during the 3rd quarter. Sessa Capital IM L.P. now owns 28,410,428 shares of the company's stock worth $234,386,000 after buying an additional 5,625,545 shares during the last quarter. Drexel Morgan & Co. lifted its holdings in Warner Bros. Discovery by 43.5% during the 3rd quarter. Drexel Morgan & Co. now owns 6,600,463 shares of the company's stock worth $54,454,000 after buying an additional 2,000,000 shares during the last quarter. Private Management Group Inc. lifted its holdings in Warner Bros. Discovery by 37.7% during the 3rd quarter. Private Management Group Inc. now owns 6,886,143 shares of the company's stock worth $56,811,000 after buying an additional 1,886,868 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC lifted its holdings in Warner Bros. Discovery by 110.1% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 3,422,929 shares of the company's stock worth $28,239,000 after buying an additional 1,793,404 shares during the last quarter. Institutional investors and hedge funds own 59.95% of the company's stock.

Insider Buying and Selling

In other news, insider Savalle Sims sold 169,436 shares of Warner Bros. Discovery stock in a transaction on Friday, December 13th. The stock was sold at an average price of $12.36, for a total transaction of $2,094,228.96. Following the transaction, the insider now owns 599,317 shares in the company, valued at approximately $7,407,558.12. The trade was a 22.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.80% of the company's stock.

Warner Bros. Discovery Price Performance

Shares of NASDAQ WBD traded up $0.14 during mid-day trading on Friday, reaching $10.34. The company had a trading volume of 22,458,326 shares, compared to its average volume of 25,738,439. 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 $25.37 billion, a PE ratio of -2.26, a P/E/G ratio of 7.98 and a beta of 1.49. The company has a 50-day moving average price of $10.40 and a two-hundred day moving average price of $9.04. Warner Bros. Discovery, Inc. has a 1-year low of $6.64 and a 1-year high of $12.70.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Barclays increased their target price on Warner Bros. Discovery from $8.00 to $10.00 and gave the stock an "equal weight" rating in a report on Friday, November 8th. KeyCorp increased 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. Bank of America reissued a "buy" rating and issued a $14.00 price target on shares of Warner Bros. Discovery in a report on Thursday, December 12th. Moffett Nathanson raised Warner Bros. Discovery from a "neutral" rating to a "buy" rating and lifted their target price for the company from $9.00 to $13.00 in a research note on Tuesday, January 21st. Finally, Wolfe Research raised Warner Bros. Discovery from an "underperform" rating to a "peer perform" rating in a research note on Monday, November 11th. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat, Warner Bros. Discovery presently has an average rating of "Moderate Buy" and an average target price of $11.76.

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.