2,254,008 Shares in Warner Bros. Discovery, Inc. (NASDAQ:WBD) Purchased by Pine Valley Investments Ltd Liability Co

Pine Valley Investments Ltd Liability Co purchased a new stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 2,254,008 shares of the company’s stock, valued at approximately $23,825,000. Warner Bros. Discovery comprises approximately 1.4% of Pine Valley Investments Ltd Liability Co’s investment portfolio, making the stock its 8th biggest position.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp grew its holdings in shares of Warner Bros. Discovery by 4.1% in the third quarter. State Street Corp now owns 151,285,963 shares of the company’s stock valued at $1,248,109,000 after acquiring an additional 5,898,611 shares in the last quarter. Sessa Capital IM L.P. raised its stake in shares of Warner Bros. Discovery by 24.7% during the 3rd quarter. Sessa Capital IM L.P. now owns 28,410,428 shares of the company’s stock worth $234,386,000 after purchasing an additional 5,625,545 shares during the period. EdgePoint Investment Group Inc. boosted its holdings in shares of Warner Bros. Discovery by 2.6% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 21,396,719 shares of the company’s stock worth $176,523,000 after buying an additional 541,192 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its position in Warner Bros. Discovery by 1.6% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 20,889,437 shares of the company’s stock valued at $172,338,000 after buying an additional 329,620 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Warner Bros. Discovery by 4.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 15,685,506 shares of the company’s stock worth $129,405,000 after buying an additional 687,612 shares during the last quarter. 59.95% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Savalle Sims sold 169,436 shares of Warner Bros. Discovery 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 completion of the sale, the insider now directly owns 599,317 shares of the company’s stock, valued at approximately $7,407,558.12. The trade was a 22.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.80% of the company’s stock.

Warner Bros. Discovery Price Performance

NASDAQ:WBD opened at $11.09 on Tuesday. The firm has a market capitalization of $27.21 billion, a price-to-earnings ratio of -2.42, a P/E/G ratio of 8.64 and a beta of 1.49. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a fifty day moving average of $10.32 and a 200 day moving average of $9.17. Warner Bros. Discovery, Inc. has a 52-week low of $6.64 and a 52-week high of $12.70.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on WBD shares. Rosenblatt Securities raised their price target on shares of Warner Bros. Discovery from $9.00 to $13.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Raymond James increased their price objective on Warner Bros. Discovery from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Macquarie boosted their target price on Warner Bros. Discovery from $8.00 to $9.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. The Goldman Sachs Group increased their price target 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. Finally, Moffett Nathanson upgraded Warner Bros. Discovery from a “neutral” rating to a “buy” rating and boosted their price objective for the company 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 given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $11.76.

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.