Sumitomo Mitsui DS Asset Management Company Ltd Acquires 2,559 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 1.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 251,067 shares of the company’s stock after acquiring an additional 2,559 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Warner Bros. Discovery were worth $2,654,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Principal Financial Group Inc. lifted its holdings in shares of Warner Bros. Discovery by 3.1% in the third quarter. Principal Financial Group Inc. now owns 2,579,571 shares of the company’s stock worth $21,281,000 after acquiring an additional 78,653 shares during the last quarter. Hauser Brothers GmbH increased its position in shares of Warner Bros. Discovery by 56.1% during the third quarter. Hauser Brothers GmbH now owns 1,225,000 shares of the company’s stock worth $10,106,000 after buying an additional 440,000 shares during the period. Private Management Group Inc. raised its position in shares of Warner Bros. Discovery by 37.7% in the 3rd quarter. Private Management Group Inc. now owns 6,886,143 shares of the company’s stock worth $56,811,000 after acquiring an additional 1,886,868 shares in the last quarter. Erste Asset Management GmbH acquired a new position in Warner Bros. Discovery in the third quarter valued at approximately $1,474,000. Finally, Blueshift Asset Management LLC bought a new position in Warner Bros. Discovery during the third quarter worth $588,000. Institutional investors and hedge funds own 59.95% of the company’s stock.

Insider Activity

In other news, insider Savalle Sims sold 169,436 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $12.36, for a total transaction of $2,094,228.96. Following the transaction, the insider now owns 599,317 shares of the company’s stock, valued at $7,407,558.12. This represents a 22.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on WBD. The Goldman Sachs Group boosted their price objective on Warner Bros. Discovery from $9.50 to $10.75 and gave the company a “neutral” rating in a report on Thursday, December 19th. Bank of America restated a “buy” rating and set a $14.00 price target on shares of Warner Bros. Discovery in a research note on Thursday, December 12th. Barrington Research reaffirmed an “outperform” rating and issued a $16.00 price objective on shares of Warner Bros. Discovery in a research note on Friday, December 13th. Barclays boosted 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 report on Friday, November 8th. Finally, KeyCorp raised their price target on shares of Warner Bros. Discovery from $11.00 to $14.00 and gave the company an “overweight” rating in a research report on Tuesday, December 10th. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $11.76.

Warner Bros. Discovery Stock Down 0.4 %

Shares of NASDAQ:WBD opened at $10.16 on Monday. The company has a market capitalization of $24.92 billion, a PE ratio of -2.22, a price-to-earnings-growth ratio of 7.98 and a beta of 1.49. Warner Bros. Discovery, Inc. has a 1 year low of $6.64 and a 1 year high of $12.70. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. The business has a fifty day moving average price of $10.45 and a two-hundred day moving average price of $8.99.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.12. The business had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.79 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter last year, the company posted ($0.17) earnings per share. Analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Warner Bros. Discovery Profile

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.