Fmr LLC Has $150.93 Million Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Fmr LLC raised its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 478.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,278,600 shares of the company’s stock after acquiring an additional 11,810,191 shares during the period. Fmr LLC’s holdings in Warner Bros. Discovery were worth $150,925,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. grew its holdings in Warner Bros. Discovery by 3.1% during the third quarter. Principal Financial Group Inc. now owns 2,579,571 shares of the company’s stock valued at $21,281,000 after purchasing an additional 78,653 shares during the period. Coronation Fund Managers Ltd. increased its holdings in shares of Warner Bros. Discovery by 54.1% in the fourth quarter. Coronation Fund Managers Ltd. now owns 5,644,290 shares of the company’s stock worth $59,660,000 after purchasing an additional 1,981,050 shares during the period. Prudential PLC raised its holdings in shares of Warner Bros. Discovery by 31.1% in the 4th quarter. Prudential PLC now owns 135,163 shares of the company’s stock valued at $1,429,000 after acquiring an additional 32,102 shares in the last quarter. SVB Wealth LLC bought a new stake in Warner Bros. Discovery during the fourth quarter valued at approximately $168,000. Finally, Natixis Advisors LLC lifted its holdings in shares of Warner Bros. Discovery by 3.6% during the 4th quarter. Natixis Advisors LLC now owns 291,006 shares of the company’s stock worth $3,076,000 after acquiring an additional 10,024 shares during the last quarter. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Warner Bros. Discovery

In related news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of Warner Bros. Discovery stock in a transaction dated 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 completion of the transaction, the director now directly owns 159,932 shares in the company, valued at approximately $1,824,824.12. This represents a 12.17 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

WBD has been the subject of several research reports. Benchmark reaffirmed a “buy” rating and issued a $18.00 target price on shares of Warner Bros. Discovery in a research note on Wednesday, February 26th. Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a report on Friday, February 28th. Barclays decreased their price objective on shares of Warner Bros. Discovery from $12.00 to $7.00 and set an “equal weight” rating for the company in a report on Tuesday, April 8th. Raymond James lowered their target price on Warner Bros. Discovery from $14.00 to $13.00 and set an “outperform” rating for the company in a research note on Friday, April 4th. Finally, Citigroup boosted their price objective on shares of Warner Bros. Discovery from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $11.71.

Warner Bros. Discovery Trading Down 1.6 %

Warner Bros. Discovery stock opened at $7.97 on Monday. The business has a 50-day simple moving average of $10.21 and a two-hundred day simple moving average of $9.77. Warner Bros. Discovery, Inc. has a 52-week low of $6.64 and a 52-week high of $12.70. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. The company has a market cap of $19.56 billion, a P/E ratio of -1.74, a P/E/G ratio of 8.64 and a beta of 1.43.

Warner Bros. Discovery (NASDAQ:WBD) last released its earnings results on Thursday, February 27th. The company reported ($0.20) earnings per share 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 analysts’ expectations of $10.16 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. Analysts predict that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

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.