Warner Bros. Discovery, Inc. $WBD Shares Purchased by Allianz Asset Management GmbH

Allianz Asset Management GmbH grew its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 170.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 9,326,978 shares of the company’s stock after purchasing an additional 5,873,183 shares during the period. Allianz Asset Management GmbH’s holdings in Warner Bros. Discovery were worth $182,156,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in WBD. Brighton Jones LLC grew its position in Warner Bros. Discovery by 304.9% in the fourth quarter. Brighton Jones LLC now owns 68,950 shares of the company’s stock worth $729,000 after acquiring an additional 51,920 shares during the period. NewEdge Advisors LLC raised its holdings in Warner Bros. Discovery by 50.5% in the 1st quarter. NewEdge Advisors LLC now owns 63,254 shares of the company’s stock valued at $679,000 after buying an additional 21,228 shares during the period. Empowered Funds LLC increased its position in shares of Warner Bros. Discovery by 6.2% during the first quarter. Empowered Funds LLC now owns 65,082 shares of the company’s stock valued at $698,000 after acquiring an additional 3,779 shares during the last quarter. Focus Partners Wealth raised its stake in shares of Warner Bros. Discovery by 91.6% in the 1st quarter. Focus Partners Wealth now owns 116,821 shares of the company’s stock valued at $1,254,000 after acquiring an additional 55,837 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Warner Bros. Discovery by 8.2% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 850,634 shares of the company’s stock worth $9,748,000 after acquiring an additional 64,733 shares during the last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Analysts Set New Price Targets

WBD has been the subject of several research reports. Rothschild & Co Redburn upgraded shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and set a $28.00 target price for the company in a report on Thursday, October 30th. Sanford C. Bernstein increased their target price on Warner Bros. Discovery from $16.00 to $23.50 in a research note on Friday, November 7th. The Goldman Sachs Group raised their price objective on shares of Warner Bros. Discovery from $13.00 to $14.75 and gave the company a “buy” rating in a research note on Friday, November 7th. Morgan Stanley set a $29.00 price target on shares of Warner Bros. Discovery in a research report on Thursday, December 18th. Finally, Rothschild Redb raised Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 30th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.08.

Warner Bros. Discovery Stock Performance

NASDAQ:WBD opened at $27.52 on Tuesday. Warner Bros. Discovery, Inc. has a 12 month low of $7.52 and a 12 month high of $30.00. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a market capitalization of $68.19 billion, a PE ratio of 144.85 and a beta of 1.64. The business’s fifty day moving average price is $27.78 and its 200 day moving average price is $20.74.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.02). Warner Bros. Discovery had a return on equity of 1.34% and a net margin of 1.28%.The business had revenue of $9.05 billion for the quarter, compared to analyst estimates of $9.17 billion. During the same period in the prior year, the company posted $0.05 earnings per share. The company’s revenue was down 6.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Gunnar Wiedenfels sold 242,994 shares of the company’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $29.50, for a total value of $7,168,323.00. Following the completion of the transaction, the chief financial officer owned 918,940 shares in the company, valued at approximately $27,108,730. This represents a 20.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Lori C. Locke sold 5,000 shares of Warner Bros. Discovery stock in a transaction on Monday, December 8th. The stock was sold at an average price of $27.62, for a total transaction of $138,100.00. Following the sale, the chief accounting officer owned 110,084 shares in the company, valued at $3,040,520.08. This represents a 4.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 267,116 shares of company stock valued at $7,781,731 over the last ninety days. 1.80% of the stock is currently owned by corporate insiders.

About Warner Bros. Discovery

Warner Bros. Discovery (NASDAQ: WBD) is a global media and entertainment company formed when WarnerMedia and Discovery, Inc combined their businesses in 2022. Headquartered in New York City, the company assembles a broad portfolio of film and television production, linear and cable networks, streaming services and consumer distribution operations. Its assets span well-known studio brands, premium scripted and unscripted programming, news and factual entertainment, and licensed franchise properties.

The company’s core activities include film and television production and distribution through units such as Warner Bros.