Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Bought by Man Group plc

Man Group plc raised its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 26.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 47,049 shares of the company’s stock after buying an additional 9,969 shares during the period. Man Group plc’s holdings in Warner Bros. Discovery were worth $497,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings 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 valued at $2,670,519,000 after acquiring an additional 1,658,415 shares during the period. Geode Capital Management LLC raised its position in shares of Warner Bros. Discovery by 3.6% in the fourth 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 purchased a new stake in shares of Warner Bros. Discovery during the 4th quarter worth about $362,210,000. Slate Path Capital LP grew its position in shares of Warner Bros. Discovery by 36.6% during the 4th quarter. Slate Path Capital LP now owns 23,801,000 shares of the company’s stock valued at $251,577,000 after acquiring an additional 6,381,000 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Warner Bros. Discovery by 7.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 23,608,829 shares of the company’s stock valued at $249,545,000 after purchasing an additional 1,725,775 shares in the last quarter. Institutional investors and hedge funds own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Down 0.2%

Shares of WBD opened at $9.00 on Tuesday. The firm has a market cap of $22.09 billion, a P/E ratio of -1.97, a price-to-earnings-growth ratio of 8.64 and a beta of 1.46. Warner Bros. Discovery, Inc. has a 12-month low of $6.64 and a 12-month high of $12.70. The company’s 50-day moving average price is $9.02 and its 200 day moving average price is $9.93. 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 (NASDAQ:WBD) last released its earnings results on Thursday, May 8th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.06). The firm had revenue of $8.98 billion during the quarter, compared to analyst estimates of $9.66 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The business’s revenue was down 9.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.40) earnings per share. On average, sell-side analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Wells Fargo & Company raised their price objective on Warner Bros. Discovery from $9.00 to $10.00 and gave the company an “equal weight” rating in a report on Friday, May 9th. Morgan Stanley dropped their price target on shares of Warner Bros. Discovery from $12.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 6th. Barclays boosted their price target on shares of Warner Bros. Discovery from $7.00 to $9.00 and gave the stock an “equal weight” rating in a report on Friday, May 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a report on Friday, February 28th. Finally, Rosenblatt Securities reiterated a “neutral” rating and issued a $13.00 target price on shares of Warner Bros. Discovery in a research report on Friday, March 7th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $12.22.

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 on Monday, March 3rd. The stock was bought at an average price of $11.41 per share, for a total transaction of $197,917.86. Following the completion of the purchase, the director now owns 159,932 shares in the company, valued at $1,824,824.12. This represents a 12.17% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.90% 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.