Pacer Advisors Inc. Buys 78,123 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Pacer Advisors Inc. lifted its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 27.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 363,983 shares of the company's stock after purchasing an additional 78,123 shares during the quarter. Pacer Advisors Inc.'s holdings in Warner Bros. Discovery were worth $3,847,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. State Street Corp boosted its holdings in Warner Bros. Discovery by 4.1% during the third quarter. State Street Corp now owns 151,285,963 shares of the company's stock worth $1,248,109,000 after purchasing an additional 5,898,611 shares during the last quarter. Sessa Capital IM L.P. boosted its position 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 purchasing an additional 5,625,545 shares during the last quarter. EdgePoint Investment Group Inc. raised its stake in shares of Warner Bros. Discovery by 2.6% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 21,396,719 shares of the company's stock worth $176,523,000 after purchasing an additional 541,192 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its position in Warner Bros. Discovery by 1.6% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 20,889,437 shares of the company's stock worth $172,338,000 after acquiring an additional 329,620 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Warner Bros. Discovery by 4.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 15,685,506 shares of the company's stock valued at $129,405,000 after purchasing an additional 687,612 shares during the last quarter. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on WBD shares. Rosenblatt Securities upped their price objective on Warner Bros. Discovery from $9.00 to $13.00 and gave the company a "neutral" rating in a report on Friday, December 13th. Moffett Nathanson upgraded Warner Bros. Discovery from a "neutral" rating to a "buy" rating and upped their target price for the stock from $9.00 to $13.00 in a research note on Tuesday, January 21st. Macquarie lifted their target price on Warner Bros. Discovery from $8.00 to $9.00 and gave the company a "neutral" rating in a research report on Friday, November 8th. Guggenheim raised their price target on shares of Warner Bros. Discovery from $11.00 to $12.50 and gave the company a "buy" rating in a research note on Thursday, December 12th. Finally, Barrington Research reissued an "outperform" rating and issued a $16.00 price objective on shares of Warner Bros. Discovery in a research note on Friday, December 13th. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Warner Bros. Discovery has an average rating of "Moderate Buy" and a consensus target price of $11.76.

Warner Bros. Discovery Stock Up 1.8 %

Shares of Warner Bros. Discovery stock opened at $10.62 on Friday. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $12.70. The business has a 50 day moving average price of $10.47 and a 200-day moving average price of $8.90. 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 (NASDAQ:WBD - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.05 earnings per share for the quarter, beating analysts' consensus estimates of ($0.07) by $0.12. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The company had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.79 billion. During the same period last year, the firm earned ($0.17) earnings per share. The firm's revenue was down 3.6% on a year-over-year basis. Equities research analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Insider Activity at Warner Bros. Discovery

In other news, insider Savalle Sims sold 169,436 shares of the company's 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 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 filing with the Securities & Exchange Commission, which is available at the SEC website. 1.80% of the stock is owned by company insiders.

About Warner Bros. Discovery

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.