Nomura Asset Management Co. Ltd. Sells 1,812 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Nomura Asset Management Co. Ltd. lowered its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 0.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 834,072 shares of the company’s stock after selling 1,812 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Warner Bros. Discovery were worth $8,816,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Hauser Brothers GmbH increased its position in Warner Bros. Discovery by 56.1% during the 3rd quarter. Hauser Brothers GmbH now owns 1,225,000 shares of the company’s stock worth $10,106,000 after buying an additional 440,000 shares during the period. Principal Financial Group Inc. grew its stake in shares of Warner Bros. Discovery by 3.1% in the third quarter. Principal Financial Group Inc. now owns 2,579,571 shares of the company’s stock valued at $21,281,000 after acquiring an additional 78,653 shares in the last quarter. Erste Asset Management GmbH bought a new position in Warner Bros. Discovery during the third quarter worth about $1,474,000. Coronation Fund Managers Ltd. raised its stake in Warner Bros. Discovery by 54.1% in the 4th quarter. Coronation Fund Managers Ltd. now owns 5,644,290 shares of the company’s stock worth $59,660,000 after purchasing an additional 1,981,050 shares in the last quarter. Finally, SVB Wealth LLC bought a new stake in Warner Bros. Discovery in the 4th quarter valued at about $168,000. 59.95% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Piazza Samuel A. Jr. Di bought 17,346 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was acquired at an average price of $11.41 per share, with a total value of $197,917.86. Following the transaction, the director now owns 159,932 shares of the company’s stock, valued at $1,824,824.12. This trade represents a 12.17 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.80% of the company’s stock.

Warner Bros. Discovery Stock Performance

Shares of WBD stock opened at $10.73 on Tuesday. The business’s 50-day moving average price is $10.54 and its 200-day moving average price is $9.75. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70. 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 firm has a market capitalization of $26.34 billion, a price-to-earnings ratio of -2.34, a PEG ratio of 8.64 and a beta of 1.48.

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). The business had revenue of $10.03 billion during the quarter, compared to analyst estimates of $10.16 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. Equities research analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Analysts Set New Price Targets

WBD has been the topic of several recent research reports. Guggenheim raised 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. The Goldman Sachs Group raised their price objective on Warner Bros. Discovery from $9.50 to $10.75 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Rosenblatt Securities reiterated a “neutral” rating and set a $13.00 target price on shares of Warner Bros. Discovery in a research report on Friday, March 7th. Barrington Research reaffirmed an “outperform” rating and issued a $16.00 price target on shares of Warner Bros. Discovery in a research note on Wednesday, March 5th. Finally, Moffett Nathanson upgraded shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $9.00 to $13.00 in a research note on Tuesday, January 21st. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target 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.