Norges Bank Makes New Investment in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Norges Bank purchased a new stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 34,267,713 shares of the company’s stock, valued at approximately $362,210,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Stonebridge Financial Group LLC purchased a new stake in Warner Bros. Discovery in the 4th quarter worth approximately $26,000. SRS Capital Advisors Inc. increased its holdings in shares of Warner Bros. Discovery by 313.4% in the fourth quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company’s stock worth $27,000 after purchasing an additional 1,940 shares during the period. Graney & King LLC purchased a new stake in shares of Warner Bros. Discovery in the fourth quarter worth $28,000. Ethos Financial Group LLC bought a new stake in Warner Bros. Discovery during the fourth quarter valued at $29,000. Finally, Briaud Financial Planning Inc grew its position in Warner Bros. Discovery by 258.1% during the fourth quarter. Briaud Financial Planning Inc now owns 2,775 shares of the company’s stock worth $29,000 after buying an additional 2,000 shares in the last quarter. 59.95% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Piazza Samuel A. Jr. Di purchased 17,346 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was bought 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 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. 1.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

WBD has been the subject of a number of research analyst reports. Citigroup lifted their price target 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. Bank of America reissued a “buy” rating and issued a $14.00 price target on shares of Warner Bros. Discovery in a research note on Thursday, December 12th. Rosenblatt Securities restated a “neutral” rating and set a $13.00 price objective on shares of Warner Bros. Discovery in a research report on Friday, March 7th. Benchmark reiterated a “buy” rating and issued a $18.00 target price on shares of Warner Bros. Discovery in a research report on Wednesday, February 26th. Finally, Barclays raised their price target on Warner Bros. Discovery from $10.00 to $12.00 and gave the company an “equal weight” rating in a research report on Friday, February 28th. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.91.

Warner Bros. Discovery Stock Performance

Shares of NASDAQ:WBD opened at $10.37 on Friday. 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 company has a 50-day moving average price of $10.52 and a 200-day moving average price of $9.70. The company has a market cap of $25.46 billion, a price-to-earnings ratio of -2.26, a price-to-earnings-growth ratio of 8.64 and a beta of 1.48. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last released 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 business had revenue of $10.03 billion during 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%. As a group, equities analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 EPS 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.