Coronation Fund Managers Ltd. Acquires 1,981,050 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Coronation Fund Managers Ltd. lifted its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 54.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 5,644,290 shares of the company’s stock after buying an additional 1,981,050 shares during the quarter. Warner Bros. Discovery makes up about 3.5% of Coronation Fund Managers Ltd.’s holdings, making the stock its 10th largest holding. Coronation Fund Managers Ltd.’s holdings in Warner Bros. Discovery were worth $59,660,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. 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 bought a new stake in Warner Bros. Discovery in the 4th quarter valued at $37,000. Rosenberg Matthew Hamilton boosted its stake in Warner Bros. Discovery by 448.3% in the 4th 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. Larson Financial Group LLC increased its holdings in Warner Bros. Discovery by 54.1% during the 3rd quarter. Larson Financial Group LLC now owns 4,998 shares of the company’s stock worth $41,000 after purchasing an additional 1,754 shares in the last quarter. Finally, Tompkins Financial Corp raised its stake in shares of Warner Bros. Discovery by 50.8% in the 4th quarter. Tompkins Financial Corp now owns 5,285 shares of the company’s stock valued at $56,000 after purchasing an additional 1,780 shares during the period. 59.95% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on WBD shares. KeyCorp upped their price objective on Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. Guggenheim raised their price target on shares of Warner Bros. Discovery from $11.00 to $12.50 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Rosenblatt Securities lifted their price objective on shares of Warner Bros. Discovery from $9.00 to $13.00 and gave the company a “neutral” rating in a report on Friday, December 13th. Raymond James increased their target price on shares of Warner Bros. Discovery from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. 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. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $11.76.

Insider Buying and Selling at Warner Bros. Discovery

In other Warner Bros. Discovery news, insider Savalle Sims sold 169,436 shares of the company’s 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 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 filing with the SEC, which is available through this hyperlink. Insiders own 1.80% of the company’s stock.

Warner Bros. Discovery Stock Down 0.4 %

WBD opened at $10.16 on Monday. 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’s fifty day simple moving average is $10.45 and its 200 day simple moving average is $8.99. Warner Bros. Discovery, Inc. has a 1-year low of $6.64 and a 1-year high of $12.70. The stock has a market cap of $24.92 billion, a PE ratio of -2.22, a price-to-earnings-growth ratio of 7.98 and a beta of 1.49.

Warner Bros. Discovery (NASDAQ:WBD) last posted its earnings results on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.12. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The company had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.79 billion. During the same quarter last year, the company posted ($0.17) EPS. Warner Bros. Discovery’s quarterly revenue was down 3.6% compared to the same quarter last year. As a group, research analysts expect that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current 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.