Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Bought by Commerzbank Aktiengesellschaft FI

Commerzbank Aktiengesellschaft FI grew its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 16.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 17,943 shares of the company’s stock after purchasing an additional 2,502 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Warner Bros. Discovery were worth $189,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. State Street Corp lifted its position in shares of Warner Bros. Discovery by 4.1% in the 3rd quarter. State Street Corp now owns 151,285,963 shares of the company’s stock worth $1,248,109,000 after buying an additional 5,898,611 shares during the last quarter. Sessa Capital IM L.P. lifted its holdings in Warner Bros. Discovery by 24.7% in the third quarter. Sessa Capital IM L.P. now owns 28,410,428 shares of the company’s stock worth $234,386,000 after purchasing an additional 5,625,545 shares during the period. EdgePoint Investment Group Inc. boosted its holdings in shares of Warner Bros. Discovery by 2.6% in the third quarter. EdgePoint Investment Group Inc. now owns 21,396,719 shares of the company’s stock valued at $176,523,000 after acquiring an additional 541,192 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its stake in Warner Bros. Discovery by 1.6% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 20,889,437 shares of the company’s stock valued at $172,338,000 after purchasing an additional 329,620 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Warner Bros. Discovery by 5.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 16,547,162 shares of the company’s stock worth $174,904,000 after acquiring an additional 861,656 shares during the period. Institutional investors own 59.95% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Moffett Nathanson upgraded shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $9.00 to $13.00 in a research report on Tuesday, January 21st. JPMorgan Chase & Co. upped their target price on Warner Bros. Discovery from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Tuesday, January 14th. Barclays increased their price objective on Warner Bros. Discovery from $10.00 to $12.00 and gave the stock an “equal weight” rating in a report on Friday, February 28th. Raymond James lifted their target price on shares of Warner Bros. Discovery from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Finally, Bank of America reaffirmed a “buy” rating and issued a $14.00 price target on shares of Warner Bros. Discovery in a research report on Thursday, December 12th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $11.91.

Warner Bros. Discovery Stock Performance

WBD opened at $10.70 on Friday. The stock’s 50 day simple moving average is $10.38 and its 200-day simple moving average is $9.35. 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 stock has a market cap of $26.25 billion, a PE ratio of -2.34, a P/E/G ratio of 8.64 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.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.30). Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The business had revenue of $10.03 billion during the quarter, compared to the consensus estimate of $10.16 billion. Sell-side analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Insider Activity

In related news, insider Savalle Sims sold 169,436 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 599,317 shares in the company, valued at $7,407,558.12. This trade represents a 22.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Piazza Samuel A. Jr. Di purchased 17,346 shares of the 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 transaction, the director now directly owns 159,932 shares of the company’s stock, valued at approximately $1,824,824.12. This trade represents a 12.17 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.80% of the stock is owned by company insiders.

Warner Bros. Discovery Company 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.