Warner Bros. Discovery, Inc. $WBD Shares Acquired by Handelsbanken Fonder AB

Handelsbanken Fonder AB grew its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 130.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,008,638 shares of the company's stock after purchasing an additional 571,612 shares during the period. Handelsbanken Fonder AB's holdings in Warner Bros. Discovery were worth $29,069,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Warner Bros. Discovery by 7.1% during the third quarter. Vanguard Group Inc. now owns 281,214,155 shares of the company's stock worth $5,492,112,000 after purchasing an additional 18,736,600 shares in the last quarter. Jericho Capital Asset Management L.P. boosted its position in Warner Bros. Discovery by 108.9% during the third quarter. Jericho Capital Asset Management L.P. now owns 35,095,390 shares of the company's stock worth $685,413,000 after purchasing an additional 18,291,865 shares in the last quarter. Duquesne Family Office LLC purchased a new stake in Warner Bros. Discovery during the second quarter worth $74,916,000. Allianz Asset Management GmbH raised its holdings in shares of Warner Bros. Discovery by 170.1% in the third quarter. Allianz Asset Management GmbH now owns 9,326,978 shares of the company's stock worth $182,156,000 after acquiring an additional 5,873,183 shares during the last quarter. Finally, Amundi raised its holdings in shares of Warner Bros. Discovery by 59.6% in the third quarter. Amundi now owns 15,523,538 shares of the company's stock worth $296,189,000 after acquiring an additional 5,798,592 shares during the last quarter. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Warner Bros. Discovery Stock Performance

Shares of NASDAQ:WBD opened at $27.09 on Wednesday. The firm has a market capitalization of $67.92 billion, a PE ratio of -38.70 and a beta of 1.57. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.73 and a quick ratio of 0.73. The business has a 50-day moving average of $27.30 and a two-hundred day moving average of $27.02. Warner Bros. Discovery, Inc. has a 12 month low of $8.83 and a 12 month high of $30.00.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($1.17) EPS for the quarter, missing the consensus estimate of ($0.10) by ($1.07). The firm had revenue of $8.89 billion for the quarter, compared to analyst estimates of $8.89 billion. Warner Bros. Discovery had a negative return on equity of 4.77% and a negative net margin of 4.67%.The business's revenue was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.18) earnings per share. As a group, research analysts forecast that Warner Bros. Discovery, Inc. will post -0.71 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Fazal F. Merchant sold 35,000 shares of the stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $27.48, for a total value of $961,800.00. Following the completion of the sale, the director owned 95,539 shares in the company, valued at approximately $2,625,411.72. This trade represents a 26.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Paul A. Gould sold 600,000 shares of the stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $27.35, for a total value of $16,410,000.00. Following the completion of the sale, the director owned 244,357 shares of the company's stock, valued at approximately $6,683,163.95. This trade represents a 71.06% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 8,206,827 shares of company stock valued at $230,674,025. Company insiders own 1.80% of the company's stock.

Wall Street Analysts Forecast Growth

WBD has been the subject of a number of analyst reports. UBS Group boosted their price target on Warner Bros. Discovery from $30.00 to $31.00 and gave the stock a "neutral" rating in a report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft cut Warner Bros. Discovery from a "buy" rating to a "hold" rating and boosted their price target for the stock from $29.50 to $31.00 in a report on Friday, February 27th. Zacks Research cut Warner Bros. Discovery from a "hold" rating to a "strong sell" rating in a report on Friday, May 1st. Moffett Nathanson raised Warner Bros. Discovery from a "hold" rating to a "strong-buy" rating in a report on Sunday, March 8th. Finally, TD Cowen boosted their price target on Warner Bros. Discovery from $22.00 to $26.00 and gave the stock a "hold" rating in a report on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, thirteen have issued a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $26.36.

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.

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