Aster Capital Management DIFC Ltd Buys 2,989 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Aster Capital Management DIFC Ltd raised its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 150.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,979 shares of the company’s stock after buying an additional 2,989 shares during the quarter. Aster Capital Management DIFC Ltd’s holdings in Warner Bros. Discovery were worth $53,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WBD. Vanguard Group Inc. grew its holdings in Warner Bros. Discovery by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 252,650,791 shares of the company’s stock valued at $2,670,519,000 after purchasing an additional 1,658,415 shares during the period. Geode Capital Management LLC boosted its stake in shares of Warner Bros. Discovery by 3.6% in the fourth quarter. Geode Capital Management LLC now owns 57,441,931 shares of the company’s stock worth $605,633,000 after acquiring an additional 1,991,441 shares during the last quarter. Norges Bank acquired a new stake in shares of Warner Bros. Discovery in the fourth quarter worth approximately $362,210,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Warner Bros. Discovery by 5.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 16,547,162 shares of the company’s stock worth $174,904,000 after acquiring an additional 861,656 shares during the last quarter. Finally, Contrarius Group Holdings Ltd acquired a new stake in shares of Warner Bros. Discovery in the fourth quarter worth approximately $168,930,000. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Piazza Samuel A. Jr. Di purchased 17,346 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was bought at an average price of $11.41 per share, with a total value of $197,917.86. Following the acquisition, the director now directly owns 159,932 shares of the company’s stock, valued at approximately $1,824,824.12. This represents a 12.17 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

WBD has been the topic of a number of recent research reports. Moffett Nathanson raised Warner Bros. Discovery from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $9.00 to $13.00 in a research note on Tuesday, January 21st. Raymond James lowered their price objective on Warner Bros. Discovery from $14.00 to $13.00 and set an “outperform” rating on the stock in a research note on Friday, April 4th. Rosenblatt Securities restated a “neutral” rating and issued a $13.00 target price on shares of Warner Bros. Discovery in a research report on Friday, March 7th. Citigroup lifted their target price on Warner Bros. Discovery from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. Finally, Benchmark reiterated a “buy” rating and issued a $18.00 price objective on shares of Warner Bros. Discovery in a report on Wednesday, February 26th. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $11.71.

Warner Bros. Discovery Trading Up 20.4 %

Shares of NASDAQ:WBD opened at $9.26 on Thursday. Warner Bros. Discovery, Inc. has a 52-week low of $6.64 and a 52-week high of $12.70. The company has a market cap of $22.73 billion, a P/E ratio of -2.02, a P/E/G ratio of 8.64 and a beta of 1.43. The stock’s 50-day moving average is $10.29 and its 200-day moving average is $9.76. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80.

Warner Bros. Discovery (NASDAQ:WBD) last posted its earnings results on Thursday, February 27th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.30). 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 $10.03 billion during the quarter, compared to the consensus estimate of $10.16 billion. Equities research analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share 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.