Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Bought by Metis Global Partners LLC

Metis Global Partners LLC boosted its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 52.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 110,878 shares of the company’s stock after acquiring an additional 38,384 shares during the period. Metis Global Partners LLC’s holdings in Warner Bros. Discovery were worth $1,172,000 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 the business. Stonebridge Financial Group LLC acquired a new position in shares of Warner Bros. Discovery in the fourth quarter valued at approximately $26,000. Sugar Maple Asset Management LLC acquired a new position in shares of Warner Bros. Discovery in the fourth quarter valued at approximately $33,000. New Wave Wealth Advisors LLC acquired a new position in shares of Warner Bros. Discovery in the fourth quarter valued at approximately $37,000. Rosenberg Matthew Hamilton raised its position in shares of Warner Bros. Discovery by 448.3% in the fourth quarter. Rosenberg Matthew Hamilton now owns 4,578 shares of the company’s stock valued at $48,000 after buying an additional 3,743 shares during the last quarter. Finally, Larson Financial Group LLC raised its position in shares of Warner Bros. Discovery by 54.1% in the third quarter. Larson Financial Group LLC now owns 4,998 shares of the company’s stock valued at $41,000 after buying an additional 1,754 shares during the last quarter. Institutional investors and hedge funds own 59.95% of the company’s stock.

Wall Street Analysts Forecast Growth

WBD has been the subject of a number of recent analyst reports. Moffett Nathanson upgraded shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and boosted their target price for the company from $9.00 to $13.00 in a report on Tuesday, January 21st. KeyCorp boosted their target price on shares of Warner Bros. Discovery from $11.00 to $14.00 and gave the company an “overweight” rating in a report on Tuesday, December 10th. Bank of America restated a “buy” rating and issued a $14.00 target price on shares of Warner Bros. Discovery in a report on Thursday, December 12th. Guggenheim boosted their target price on shares of Warner Bros. Discovery from $11.00 to $12.50 and gave the company a “buy” rating in a report on Thursday, December 12th. Finally, Barrington Research reiterated an “outperform” rating and set a $16.00 price objective on shares of Warner Bros. Discovery in a research note on Thursday, February 27th. Ten equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $11.75.

Insider Activity at Warner Bros. Discovery

In related news, insider Savalle Sims sold 169,436 shares of the company’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $12.36, for a total value of $2,094,228.96. Following the sale, the insider now directly owns 599,317 shares of the company’s stock, valued at $7,407,558.12. This represents a 22.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.80% of the stock is currently owned by corporate insiders.

Warner Bros. Discovery Price Performance

Shares of WBD stock opened at $11.02 on Tuesday. The company has a market capitalization of $27.03 billion, a PE ratio of -2.41, a price-to-earnings-growth ratio of 8.64 and a beta of 1.49. The firm has a fifty day simple moving average of $10.33 and a 200-day simple moving average of $9.28. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last announced its 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 firm had revenue of $10.03 billion during the quarter, compared to analysts’ expectations of $10.16 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. Equities research analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal 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.