Nordea Investment Management AB Increases Stock Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Nordea Investment Management AB increased its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 5.1% during the fourth quarter, HoldingsChannel reports. The firm owned 183,888 shares of the company’s stock after buying an additional 8,875 shares during the period. Nordea Investment Management AB’s holdings in Warner Bros. Discovery were worth $1,958,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of WBD. National Bank of Canada FI increased its holdings in Warner Bros. Discovery by 25.6% in the 2nd quarter. National Bank of Canada FI now owns 40,283 shares of the company’s stock worth $286,000 after buying an additional 8,219 shares in the last quarter. Acadian Asset Management LLC bought a new stake in shares of Warner Bros. Discovery during the 2nd quarter valued at about $535,000. Choreo LLC grew its stake in shares of Warner Bros. Discovery by 63.2% during the 2nd quarter. Choreo LLC now owns 35,049 shares of the company’s stock valued at $249,000 after purchasing an additional 13,577 shares during the period. Royal London Asset Management Ltd. grew its stake in shares of Warner Bros. Discovery by 4.0% during the 2nd quarter. Royal London Asset Management Ltd. now owns 908,802 shares of the company’s stock valued at $6,761,000 after purchasing an additional 34,696 shares during the period. Finally, American Century Companies Inc. grew its stake in shares of Warner Bros. Discovery by 4.3% during the 2nd quarter. American Century Companies Inc. now owns 454,013 shares of the company’s stock valued at $3,378,000 after purchasing an additional 18,888 shares during the period. 59.95% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on WBD shares. Barrington Research restated an “outperform” rating and set a $16.00 price target on shares of Warner Bros. Discovery in a research note on Friday, December 13th. Guggenheim boosted their price target on Warner Bros. Discovery from $11.00 to $12.50 and gave the company a “buy” rating in a research note on Thursday, December 12th. Barclays boosted their price target on Warner Bros. Discovery from $8.00 to $10.00 and gave the company an “equal weight” rating in a research note on Friday, November 8th. Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a research note on Thursday, October 10th. Finally, Macquarie boosted their price objective on Warner Bros. Discovery from $8.00 to $9.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Eleven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Warner Bros. Discovery has an average rating of “Hold” and a consensus price target of $11.46.

Insider Transactions at Warner Bros. Discovery

In other news, insider Savalle Sims sold 169,436 shares of the company’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 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.80% of the company’s stock.

Warner Bros. Discovery Stock Down 3.6 %

NASDAQ WBD opened at $9.70 on Friday. The stock’s 50 day moving average is $10.26 and its 200 day moving average is $8.64. 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 12 month low of $6.64 and a 12 month high of $12.70. The stock has a market cap of $23.80 billion, a PE ratio of -2.12 and a beta of 1.50.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.12. The company had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.79 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The firm’s revenue was down 3.6% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.17) EPS. Research analysts predict that Warner Bros. Discovery, Inc. will post -4.37 EPS for the current fiscal 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.