Mitsubishi UFJ Trust & Banking Corp Sells 36,464 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Mitsubishi UFJ Trust & Banking Corp lessened its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 3.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,035,559 shares of the company’s stock after selling 36,464 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Warner Bros. Discovery were worth $10,946,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Contrarius Group Holdings Ltd bought a new position in Warner Bros. Discovery in the fourth quarter valued at about $168,930,000. State Street Corp increased its position in Warner Bros. Discovery by 4.1% during the 3rd 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 in the last quarter. Amundi lifted its stake in Warner Bros. Discovery by 108.1% in the 4th quarter. Amundi now owns 10,151,114 shares of the company’s stock valued at $102,120,000 after purchasing an additional 5,272,717 shares during the last quarter. Pine Valley Investments Ltd Liability Co acquired a new stake in Warner Bros. Discovery in the fourth quarter valued at approximately $23,825,000. Finally, LBP AM SA bought a new stake in shares of Warner Bros. Discovery during the fourth quarter worth $21,032,000. Institutional investors and hedge funds own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Performance

NASDAQ:WBD opened at $10.37 on Friday. The firm has a market capitalization of $25.46 billion, a P/E ratio of -2.26, a P/E/G ratio of 8.64 and a beta of 1.48. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $12.70. The company has a fifty day moving average of $10.52 and a 200-day moving average of $9.70. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings data 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 analyst estimates of $10.16 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. As a group, sell-side analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Moffett Nathanson upgraded 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 note on Tuesday, January 21st. Barclays lifted their price target on Warner Bros. Discovery from $10.00 to $12.00 and gave the company an “equal weight” rating in a research note on Friday, February 28th. Citigroup upped their price objective on Warner Bros. Discovery from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, March 5th. KeyCorp lifted their target price on shares of Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. Finally, Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a research report on Friday, February 28th. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $11.91.

Insiders Place Their Bets

In other Warner Bros. Discovery news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of the 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 completion of the acquisition, the director now owns 159,932 shares in the company, valued at approximately $1,824,824.12. This represents a 12.17 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.80% of the company’s stock.

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.