North Growth Management Ltd. Has $10.82 Million Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

North Growth Management Ltd. cut its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 1.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,024,000 shares of the company’s stock after selling 18,000 shares during the quarter. Warner Bros. Discovery makes up 2.1% of North Growth Management Ltd.’s portfolio, making the stock its 19th largest position. North Growth Management Ltd.’s holdings in Warner Bros. Discovery were worth $10,820,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in WBD. AMF Tjanstepension AB bought a new position in Warner Bros. Discovery in the third quarter valued at approximately $1,031,000. Czech National Bank lifted its stake in Warner Bros. Discovery by 7.0% in the 3rd quarter. Czech National Bank now owns 454,526 shares of the company’s stock valued at $3,750,000 after acquiring an additional 29,620 shares in the last quarter. Diversified Trust Co acquired a new position in Warner Bros. Discovery during the third quarter worth $96,000. Mather Group LLC. grew its holdings in shares of Warner Bros. Discovery by 102.8% in the 3rd quarter. Mather Group LLC. now owns 31,292 shares of the company’s stock valued at $258,000 after acquiring an additional 15,859 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC boosted its holdings in shares of Warner Bros. Discovery by 13.1% in the 3rd quarter. Dynamic Advisor Solutions LLC now owns 13,476 shares of the company’s stock valued at $111,000 after buying an additional 1,565 shares during the last quarter. 59.95% of the stock is owned by institutional investors.

Warner Bros. Discovery Price Performance

Shares of Warner Bros. Discovery stock opened at $10.16 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. Warner Bros. Discovery, Inc. has a 1 year low of $6.64 and a 1 year high of $12.70. The firm’s 50 day moving average is $10.45 and its 200 day moving average is $8.98.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.79 billion. During the same period in the prior year, the company posted ($0.17) EPS. The company’s revenue was down 3.6% on a year-over-year basis. Sell-side analysts expect that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Insider Transactions at Warner Bros. Discovery

In other news, insider Savalle Sims sold 169,436 shares of the firm’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 in the company, valued at $7,407,558.12. This trade represents a 22.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on WBD. Macquarie lifted their target price on Warner Bros. Discovery from $8.00 to $9.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Guggenheim increased their price target on shares of Warner Bros. Discovery from $11.00 to $12.50 and gave the company a “buy” rating in a report on Thursday, December 12th. Barrington Research restated an “outperform” rating and set a $16.00 price objective on shares of Warner Bros. Discovery in a report on Friday, December 13th. Barclays lifted their target price on Warner Bros. Discovery from $8.00 to $10.00 and gave the stock an “equal weight” rating in a report on Friday, November 8th. Finally, Raymond James upped their price target on shares of Warner Bros. Discovery from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $11.76.

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.