Ninety One UK Ltd Raises Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Ninety One UK Ltd raised its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 48.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 487,021 shares of the company's stock after purchasing an additional 159,711 shares during the period. Ninety One UK Ltd's holdings in Warner Bros. Discovery were worth $5,148,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Golden State Equity Partners increased its stake in Warner Bros. Discovery by 6.5% during the 4th quarter. Golden State Equity Partners now owns 16,124 shares of the company's stock valued at $170,000 after purchasing an additional 986 shares in the last quarter. Cornerstone Wealth Management LLC increased its position in shares of Warner Bros. Discovery by 7.4% during the fourth quarter. Cornerstone Wealth Management LLC now owns 15,995 shares of the company's stock worth $169,000 after acquiring an additional 1,101 shares in the last quarter. Commerce Bank raised its holdings in shares of Warner Bros. Discovery by 2.4% in the 3rd quarter. Commerce Bank now owns 55,963 shares of the company's stock worth $462,000 after acquiring an additional 1,286 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Warner Bros. Discovery by 0.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 183,462 shares of the company's stock valued at $1,939,000 after acquiring an additional 1,387 shares in the last quarter. Finally, GAM Holding AG boosted its stake in Warner Bros. Discovery by 0.3% during the 3rd quarter. GAM Holding AG now owns 457,685 shares of the company's stock valued at $3,776,000 after purchasing an additional 1,437 shares during the last quarter. Institutional investors and hedge funds own 59.95% of the company's stock.

Analysts Set New Price Targets

WBD has been the subject of several analyst reports. 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. Moffett Nathanson raised Warner Bros. Discovery from a "neutral" rating to a "buy" rating and increased their price target for the company from $9.00 to $13.00 in a research report on Tuesday, January 21st. Macquarie lifted 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. Raymond James increased their target price on shares of Warner Bros. Discovery from $11.00 to $12.00 and gave the company an "outperform" rating in a report on Friday, November 8th. Finally, Barclays boosted 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 report on Friday, November 8th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $11.76.

Warner Bros. Discovery Stock Performance

NASDAQ:WBD traded down $0.04 on Friday, reaching $10.16. 22,033,577 shares of the company's stock were exchanged, compared to its average volume of 24,469,668. The stock has a fifty day simple moving average of $10.45 and a 200-day simple moving average of $8.98. The firm has a market cap of $24.92 billion, a price-to-earnings ratio of -2.22, a P/E/G ratio of 7.98 and a beta of 1.49. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $12.70. 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 announced its quarterly earnings results on Thursday, November 7th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.12. The company had revenue of $9.62 billion during the quarter, compared to analysts' expectations of $9.79 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The firm's quarterly revenue was down 3.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.17) earnings per share. As a group, sell-side analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Insider Activity

In related news, insider Savalle Sims sold 169,436 shares of the business's stock in a transaction dated 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 completion of the transaction, the insider now directly owns 599,317 shares in the company, valued at $7,407,558.12. The trade was a 22.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.80% of the company's stock.

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.