DnB Asset Management AS Has $16.06 Million Stock Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

DnB Asset Management AS lifted its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 295.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,519,337 shares of the company's stock after buying an additional 1,135,063 shares during the period. DnB Asset Management AS owned about 0.06% of Warner Bros. Discovery worth $16,059,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Pathstone Holdings LLC lifted its holdings in shares of Warner Bros. Discovery by 11.6% during the third quarter. Pathstone Holdings LLC now owns 171,331 shares of the company's stock valued at $1,413,000 after acquiring an additional 17,869 shares during the period. Cerity Partners LLC lifted its holdings in Warner Bros. Discovery by 81.0% during the 3rd quarter. Cerity Partners LLC now owns 210,104 shares of the company's stock valued at $1,733,000 after purchasing an additional 94,050 shares during the last quarter. Pitcairn Co. acquired a new position in Warner Bros. Discovery in the third quarter valued at about $91,000. Larson Financial Group LLC grew its stake in Warner Bros. Discovery by 54.1% during the third quarter. Larson Financial Group LLC now owns 4,998 shares of the company's stock worth $41,000 after buying an additional 1,754 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new stake in shares of Warner Bros. Discovery during the third quarter worth approximately $51,000. Institutional investors own 59.95% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on WBD shares. Moffett Nathanson upgraded Warner Bros. Discovery from a "neutral" rating to a "buy" rating and raised their target price for the company from $9.00 to $13.00 in a research note on Tuesday, January 21st. Barrington Research restated an "outperform" rating and issued a $16.00 price objective on shares of Warner Bros. Discovery in a research report on Wednesday, March 5th. KeyCorp increased their price target 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. Benchmark reissued a "buy" rating and issued a $18.00 price target on shares of Warner Bros. Discovery in a report on Wednesday, February 26th. Finally, Barclays upped their price objective on Warner Bros. Discovery from $10.00 to $12.00 and gave the stock an "equal weight" rating in a report on Friday, February 28th. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $11.91.

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Insiders Place Their Bets

In other news, Director Piazza Samuel A. Jr. Di bought 17,346 shares of the business's stock in a transaction on Monday, March 3rd. The shares were purchased at an average price of $11.41 per share, for a total transaction of $197,917.86. Following the purchase, 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.80% of the company's stock.

Warner Bros. Discovery Trading Up 3.4 %

NASDAQ:WBD traded up $0.35 on Wednesday, reaching $10.56. The company's stock had a trading volume of 17,759,360 shares, compared to its average volume of 31,659,434. Warner Bros. Discovery, Inc. has a 1-year low of $6.64 and a 1-year high of $12.70. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a market cap of $25.92 billion, a PE ratio of -2.31, a PEG ratio of 8.64 and a beta of 1.48. The business's 50-day moving average price is $10.55 and its two-hundred day moving average price is $9.76.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.20) earnings per share 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 company had revenue of $10.03 billion during the quarter, compared to the consensus estimate of $10.16 billion. Equities research analysts anticipate 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.