Fisher Funds Management LTD Invests $8.21 Million in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Fisher Funds Management LTD acquired a new position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 772,146 shares of the company’s stock, valued at approximately $8,212,000.

A number of other large investors also recently modified their holdings of the business. Golden State Equity Partners boosted its stake in shares of Warner Bros. Discovery by 6.5% during the 4th quarter. Golden State Equity Partners now owns 16,124 shares of the company’s stock worth $170,000 after buying an additional 986 shares during the last quarter. Deseret Mutual Benefit Administrators lifted its stake in Warner Bros. Discovery by 12.0% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 9,925 shares of the company’s stock valued at $105,000 after purchasing an additional 1,066 shares during the last quarter. Cornerstone Wealth Management LLC lifted its stake in Warner Bros. Discovery by 7.4% in the 4th quarter. Cornerstone Wealth Management LLC now owns 15,995 shares of the company’s stock valued at $169,000 after purchasing an additional 1,101 shares during the last quarter. Avestar Capital LLC lifted its stake in Warner Bros. Discovery by 9.4% in the 4th quarter. Avestar Capital LLC now owns 14,337 shares of the company’s stock valued at $152,000 after purchasing an additional 1,228 shares during the last quarter. Finally, Commerce Bank lifted its stake in Warner Bros. Discovery by 2.4% in the 3rd quarter. Commerce Bank now owns 55,963 shares of the company’s stock valued at $462,000 after purchasing an additional 1,286 shares during the last quarter. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

WBD has been the subject of several recent analyst reports. KeyCorp raised their target price on shares of Warner Bros. Discovery from $11.00 to $14.00 and gave the company an “overweight” rating in a research note on Tuesday, December 10th. Raymond James raised their target price on shares of Warner Bros. Discovery from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Rosenblatt Securities raised their target price on shares of Warner Bros. Discovery from $9.00 to $13.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Barrington Research reiterated an “outperform” rating and issued a $16.00 target price on shares of Warner Bros. Discovery in a research note on Friday, December 13th. Finally, The Goldman Sachs Group raised their price objective on shares of Warner Bros. Discovery from $9.50 to $10.75 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $11.76.

Warner Bros. Discovery Stock Down 2.4 %

Shares of WBD opened at $10.78 on Friday. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70. The firm’s 50 day moving average is $10.33 and its 200-day moving average is $9.13. The stock has a market capitalization of $26.45 billion, a PE ratio of -2.35, a P/E/G ratio of 8.64 and a beta of 1.49. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03.

Insider Transactions at Warner Bros. Discovery

In related news, insider Savalle Sims sold 169,436 shares of Warner Bros. Discovery stock in a transaction that occurred on Friday, December 13th. The shares were 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 trade represents a 22.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.80% of the company’s stock.

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.