Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Bought by Heritage Investors Management Corp

Heritage Investors Management Corp raised its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 5.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 69,514 shares of the company’s stock after buying an additional 3,786 shares during the quarter. Heritage Investors Management Corp’s holdings in Warner Bros. Discovery were worth $735,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of WBD. State Street Corp lifted its position in shares of Warner Bros. Discovery by 4.1% during the third 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. Sessa Capital IM L.P. lifted its position in shares of Warner Bros. Discovery by 24.7% during the third quarter. Sessa Capital IM L.P. now owns 28,410,428 shares of the company’s stock worth $234,386,000 after purchasing an additional 5,625,545 shares in the last quarter. Pine Valley Investments Ltd Liability Co acquired a new stake in shares of Warner Bros. Discovery during the fourth quarter worth about $23,825,000. Drexel Morgan & Co. lifted its position in shares of Warner Bros. Discovery by 43.5% during the third quarter. Drexel Morgan & Co. now owns 6,600,463 shares of the company’s stock worth $54,454,000 after purchasing an additional 2,000,000 shares in the last quarter. Finally, Coronation Fund Managers Ltd. lifted its position in shares of Warner Bros. Discovery by 54.1% during 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 in the last quarter. Institutional investors and hedge funds own 59.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on WBD shares. Wolfe Research raised shares of Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research report on Monday, November 11th. Bank of America restated a “buy” rating and set a $14.00 target price on shares of Warner Bros. Discovery in a research note on Thursday, December 12th. Barclays upped their target price on shares of Warner Bros. Discovery from $8.00 to $10.00 and gave the stock an “equal weight” rating in a research note on Friday, November 8th. Barrington Research restated an “outperform” rating and set a $16.00 target price on shares of Warner Bros. Discovery in a research note on Thursday. Finally, Moffett Nathanson upgraded shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and upped their target price for the stock from $9.00 to $13.00 in a research note on Tuesday, January 21st. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $11.76.

Insider Activity

In other news, insider Savalle Sims sold 169,436 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $7,407,558.12. This represents a 22.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.80% of the company’s stock.

Warner Bros. Discovery Stock Performance

Shares of Warner Bros. Discovery stock opened at $11.00 on Friday. The firm has a market capitalization of $26.98 billion, a P/E ratio of -2.40, a P/E/G ratio of 8.64 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 quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. The firm’s 50 day moving average is $10.31 and its two-hundred day moving average is $9.20.

Warner Bros. Discovery (NASDAQ:WBD) last posted 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 firm had revenue of $10.03 billion during 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%. Research analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal 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.