The Manufacturers Life Insurance Company Increases Stock Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

The Manufacturers Life Insurance Company grew its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 7.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 23,608,829 shares of the company's stock after purchasing an additional 1,725,775 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.96% of Warner Bros. Discovery worth $249,545,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake 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 worth $2,670,519,000 after buying an additional 1,658,415 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Warner Bros. Discovery by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 57,441,931 shares of the company's stock valued at $605,633,000 after acquiring an additional 1,991,441 shares during the period. Norges Bank purchased a new stake in Warner Bros. Discovery in the 4th quarter valued at $362,210,000. Slate Path Capital LP boosted its stake in Warner Bros. Discovery by 36.6% during the 4th quarter. Slate Path Capital LP now owns 23,801,000 shares of the company's stock worth $251,577,000 after purchasing an additional 6,381,000 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Warner Bros. Discovery by 5.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 16,547,162 shares of the company's stock worth $174,904,000 after purchasing an additional 861,656 shares during the last quarter. Institutional investors and hedge funds own 59.95% of the company's stock.

Insider Buying and Selling

In other Warner Bros. Discovery news, Director Piazza Samuel A. Jr. Di purchased 17,346 shares of the business's stock in a transaction on Monday, March 3rd. The stock was bought 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 approximately $1,824,824.12. The trade was a 12.17 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 1.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

WBD has been the subject of a number of research reports. KeyCorp reduced their target price on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Rosenblatt Securities reaffirmed a "neutral" rating and set a $13.00 price objective on shares of Warner Bros. Discovery in a research report on Friday, March 7th. Needham & Company LLC reissued a "hold" rating on shares of Warner Bros. Discovery in a report on Friday, February 28th. Citigroup increased their price target on Warner Bros. Discovery from $13.00 to $15.00 and gave the stock a "buy" rating in a report on Wednesday, March 5th. Finally, Moffett Nathanson raised shares of 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. Ten investment 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.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $12.01.

Warner Bros. Discovery Stock Performance

NASDAQ:WBD opened at $8.59 on Monday. 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 company has a market capitalization 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 firm has a 50-day moving average price of $9.81 and a two-hundred day moving average price of $9.78. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.20) earnings per share (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 return on equity of 27.56% and a negative net margin of 28.34%. As a group, research analysts expect that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal 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.

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