Norinchukin Bank The Acquires 36,240 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Norinchukin Bank The grew its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 25.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 177,265 shares of the company's stock after purchasing an additional 36,240 shares during the quarter. Norinchukin Bank The's holdings in Warner Bros. Discovery were worth $1,874,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake 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 worth $2,670,519,000 after buying an additional 1,658,415 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Warner Bros. Discovery by 3.6% during the 4th 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 period. Norges Bank bought a new position in shares of Warner Bros. Discovery in the 4th quarter worth approximately $362,210,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Warner Bros. Discovery by 5.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 16,547,162 shares of the company's stock valued at $174,904,000 after purchasing an additional 861,656 shares during the period. Finally, Contrarius Group Holdings Ltd bought a new stake in shares of Warner Bros. Discovery during the fourth quarter valued at approximately $168,930,000. 59.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the company. KeyCorp lowered their price objective on Warner Bros. Discovery from $14.00 to $13.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Moffett Nathanson raised shares of Warner Bros. Discovery from a "neutral" rating to a "buy" rating and lifted their price target for the company from $9.00 to $13.00 in a research report on Tuesday, January 21st. JPMorgan Chase & Co. upped their price objective on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a "neutral" rating in a report on Tuesday, January 14th. Wells Fargo & Company lowered their target price on shares of Warner Bros. Discovery from $11.00 to $9.00 and set an "equal weight" rating for the company in a report on Thursday, April 17th. Finally, Barclays cut their price target on Warner Bros. Discovery from $12.00 to $7.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Warner Bros. Discovery has a consensus rating of "Moderate Buy" and a consensus target price of $12.01.

Warner Bros. Discovery Stock Performance

NASDAQ WBD traded up $0.09 during trading hours on Friday, hitting $8.59. 24,510,405 shares of the company's stock traded hands, compared to its average volume of 32,946,214. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $12.70. The firm has a market capitalization of $21.09 billion, a P/E ratio of -1.88, a P/E/G ratio of 8.64 and a beta of 1.43. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. The business's fifty day moving average price is $9.81 and its two-hundred day moving average price is $9.75.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $10.03 billion for the quarter, compared to analysts' expectations of $10.16 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. Equities research analysts predict that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Insider Transactions at Warner Bros. Discovery

In other news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of Warner Bros. Discovery stock in a transaction dated Monday, March 3rd. The stock was purchased at an average cost of $11.41 per share, with a total value of $197,917.86. Following the completion of the purchase, the director now directly owns 159,932 shares in the company, valued at approximately $1,824,824.12. This trade represents a 12.17 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.80% of the company's stock.

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.