Avanza Fonder AB Purchases Shares of 158,109 Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Avanza Fonder AB acquired a new position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 158,109 shares of the company’s stock, valued at approximately $1,671,000.

Other hedge funds also recently modified their holdings of the company. Future Financial Wealth Managment LLC bought a new stake in Warner Bros. Discovery during the third quarter worth $41,000. Larson Financial Group LLC raised its holdings in shares of Warner Bros. Discovery by 54.1% in the 3rd quarter. Larson Financial Group LLC now owns 4,998 shares of the company’s stock valued at $41,000 after purchasing an additional 1,754 shares during the period. Quarry LP raised its holdings in shares of Warner Bros. Discovery by 2,185.1% in the 2nd quarter. Quarry LP now owns 6,307 shares of the company’s stock valued at $47,000 after purchasing an additional 6,031 shares during the period. Rosenberg Matthew Hamilton grew its holdings in Warner Bros. Discovery by 448.3% during the fourth quarter. Rosenberg Matthew Hamilton now owns 4,578 shares of the company’s stock worth $48,000 after purchasing an additional 3,743 shares during the period. Finally, Brooklyn Investment Group acquired a new position in Warner Bros. Discovery during the third quarter worth approximately $51,000. Institutional investors own 59.95% of the company’s stock.

Analysts Set New Price Targets

WBD has been the subject of a number of recent analyst reports. The Goldman Sachs Group raised their price objective on Warner Bros. Discovery from $9.50 to $10.75 and gave the company a “neutral” rating in a research report on Thursday, December 19th. Macquarie raised their price target on Warner Bros. Discovery from $8.00 to $9.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Barclays upped their price objective on shares of Warner Bros. Discovery from $8.00 to $10.00 and gave the company an “equal weight” rating in a report on Friday, November 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a report on Thursday, October 10th. Finally, Wolfe Research upgraded shares of Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research note on Monday, November 11th. Eleven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Warner Bros. Discovery currently has a consensus rating of “Hold” and a consensus target price of $11.56.

Warner Bros. Discovery Stock Up 0.5 %

WBD stock opened at $9.52 on Friday. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $12.70. The business has a 50-day simple moving average of $10.37 and a 200 day simple moving average of $8.73. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. The company has a market cap of $23.35 billion, a PE ratio of -2.08, a price-to-earnings-growth ratio of 9.12 and a beta of 1.50.

Warner Bros. Discovery (NASDAQ:WBD) last issued its earnings results on Thursday, November 7th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.07) by $0.12. The company had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.79 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 for the quarter was down 3.6% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.17) EPS. Sell-side analysts anticipate that Warner Bros. Discovery, Inc. will post -4.36 EPS for the current fiscal year.

Insider Buying and Selling at Warner Bros. Discovery

In other news, insider Savalle Sims sold 169,436 shares of Warner Bros. Discovery stock in a transaction on Friday, December 13th. The stock was sold at an average price of $12.36, for a total value of $2,094,228.96. Following the transaction, the insider now owns 599,317 shares in the company, valued at approximately $7,407,558.12. This trade represents a 22.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.80% 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.