Amundi Acquires 5,272,717 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Amundi increased its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 108.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,151,114 shares of the company’s stock after purchasing an additional 5,272,717 shares during the quarter. Amundi’s holdings in Warner Bros. Discovery were worth $102,120,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of WBD. Stonebridge Financial Group LLC acquired a new position in Warner Bros. Discovery in the fourth quarter valued at $26,000. SRS Capital Advisors Inc. raised its holdings in shares of Warner Bros. Discovery by 313.4% during the fourth quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company’s stock valued at $27,000 after purchasing an additional 1,940 shares during the period. Ethos Financial Group LLC acquired a new position in shares of Warner Bros. Discovery during the fourth quarter valued at about $29,000. Sugar Maple Asset Management LLC acquired a new position in shares of Warner Bros. Discovery during the fourth quarter valued at about $33,000. Finally, New Wave Wealth Advisors LLC acquired a new position in shares of Warner Bros. Discovery during the fourth quarter valued at about $37,000. Institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Performance

NASDAQ WBD opened at $10.59 on Tuesday. Warner Bros. Discovery, Inc. has a 1 year low of $6.64 and a 1 year high of $12.70. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a market capitalization of $25.98 billion, a PE ratio of -2.31, a P/E/G ratio of 8.64 and a beta of 1.48. The company’s 50 day simple moving average is $10.39 and its two-hundred day simple moving average is $9.41.

Warner Bros. Discovery (NASDAQ:WBD) last posted its 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 return on equity of 27.56% and a negative net margin of 28.34%. The firm had revenue of $10.03 billion during the quarter, compared to analysts’ expectations of $10.16 billion. Analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Savalle Sims sold 169,436 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $12.36, for a total transaction of $2,094,228.96. Following the sale, 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Piazza Samuel A. Jr. Di bought 17,346 shares of Warner Bros. Discovery stock in a transaction that occurred on Monday, March 3rd. The shares were acquired at an average cost of $11.41 per share, for a total transaction of $197,917.86. Following the acquisition, the director now owns 159,932 shares in the company, valued at $1,824,824.12. The trade was a 12.17 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Bank of America restated a “buy” rating and issued a $14.00 target price on shares of Warner Bros. Discovery in a report on Thursday, December 12th. Benchmark restated a “buy” rating and issued a $18.00 target price on shares of Warner Bros. Discovery in a report on Wednesday, February 26th. Guggenheim upped their target price on shares of Warner Bros. Discovery from $11.00 to $12.50 and gave the stock a “buy” rating in a report on Thursday, December 12th. Needham & Company LLC reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a research report on Friday, February 28th. Finally, Citigroup upped their price objective on shares of Warner Bros. Discovery from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. Ten equities 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 presently has an average rating of “Moderate Buy” and a consensus target price of $11.91.

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.