Coronation Fund Managers Ltd. Has $59.66 Million Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Coronation Fund Managers Ltd. lifted its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 54.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,644,290 shares of the company's stock after purchasing an additional 1,981,050 shares during the period. Warner Bros. Discovery accounts for approximately 3.5% of Coronation Fund Managers Ltd.'s portfolio, making the stock its 10th biggest holding. Coronation Fund Managers Ltd. owned 0.23% of Warner Bros. Discovery worth $59,660,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in WBD. State Street Corp raised its position in shares of Warner Bros. Discovery by 4.1% during the third quarter. State Street Corp now owns 151,285,963 shares of the company's stock valued at $1,248,109,000 after buying an additional 5,898,611 shares during the last quarter. Sessa Capital IM L.P. increased its stake in Warner Bros. Discovery by 24.7% during the third quarter. Sessa Capital IM L.P. now owns 28,410,428 shares of the company's stock valued at $234,386,000 after acquiring an additional 5,625,545 shares during the period. Drexel Morgan & Co. raised its holdings in Warner Bros. Discovery by 43.5% in the 3rd quarter. Drexel Morgan & Co. now owns 6,600,463 shares of the company's stock valued at $54,454,000 after acquiring an additional 2,000,000 shares in the last quarter. Private Management Group Inc. lifted its position in shares of Warner Bros. Discovery by 37.7% in the 3rd quarter. Private Management Group Inc. now owns 6,886,143 shares of the company's stock worth $56,811,000 after acquiring an additional 1,886,868 shares during the period. Finally, Worldquant Millennium Advisors LLC grew its holdings in shares of 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 purchasing an additional 1,793,404 shares in the last quarter. Institutional investors and hedge funds own 59.95% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on WBD. Wolfe Research upgraded Warner Bros. Discovery from an "underperform" rating to a "peer perform" rating in a research note on Monday, November 11th. Macquarie raised their price objective on shares of Warner Bros. Discovery from $8.00 to $9.00 and gave the stock a "neutral" rating in a report on Friday, November 8th. KeyCorp upped their target price on shares of Warner Bros. Discovery from $11.00 to $14.00 and gave the company an "overweight" rating in a research note on Tuesday, December 10th. Barclays increased their price target on shares of Warner Bros. Discovery from $8.00 to $10.00 and gave the stock an "equal weight" rating in a research report on Friday, November 8th. Finally, Moffett Nathanson raised Warner Bros. Discovery from a "neutral" rating to a "buy" rating and boosted their price target 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. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $11.76.

Warner Bros. Discovery Trading Up 3.9 %

NASDAQ:WBD traded up $0.38 on Thursday, hitting $10.20. 28,203,695 shares of the stock were exchanged, compared to its average volume of 25,851,551. The stock has a market capitalization of $25.02 billion, a price-to-earnings ratio of -2.23, a P/E/G ratio of 7.98 and a beta of 1.49. 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 52 week low of $6.64 and a 52 week high of $12.70. The company's 50-day moving average price is $10.41 and its 200 day moving average price is $9.02.

Insiders Place Their Bets

In other news, insider Savalle Sims sold 169,436 shares of the company's stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $12.36, for a total value of $2,094,228.96. Following the completion of the sale, the insider now directly owns 599,317 shares of the company's stock, valued at $7,407,558.12. This represents a 22.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company 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.