Royal London Asset Management Ltd. Acquires 59,464 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Royal London Asset Management Ltd. raised its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 6.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,009,156 shares of the company’s stock after buying an additional 59,464 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Warner Bros. Discovery were worth $10,667,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in WBD. Empowered Funds LLC grew its position in shares of Warner Bros. Discovery by 5.2% in the 3rd quarter. Empowered Funds LLC now owns 58,354 shares of the company’s stock worth $481,000 after buying an additional 2,901 shares during the last quarter. Natixis Advisors LLC grew its position in shares of Warner Bros. Discovery by 22.7% in the 3rd quarter. Natixis Advisors LLC now owns 280,982 shares of the company’s stock worth $2,318,000 after buying an additional 52,051 shares during the last quarter. Quest Partners LLC grew its position in shares of Warner Bros. Discovery by 173.7% in the 3rd quarter. Quest Partners LLC now owns 44,284 shares of the company’s stock worth $365,000 after buying an additional 28,104 shares during the last quarter. Pathstone Holdings LLC lifted its stake in shares of Warner Bros. Discovery by 11.6% in the 3rd quarter. Pathstone Holdings LLC now owns 171,331 shares of the company’s stock valued at $1,413,000 after purchasing an additional 17,869 shares during the period. Finally, Caprock Group LLC purchased a new position in shares of Warner Bros. Discovery in the 3rd quarter valued at approximately $99,000. 59.95% of the stock is currently owned by institutional investors.

Warner Bros. Discovery Stock Up 0.8 %

Warner Bros. Discovery stock opened at $10.74 on Friday. The stock has a market cap of $26.36 billion, a PE ratio of -2.34, a price-to-earnings-growth ratio of 8.64 and a beta of 1.48. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. Warner Bros. Discovery, Inc. has a one year low of $6.64 and a one year high of $12.70. The stock has a fifty day moving average of $10.40 and a 200 day moving average of $9.58.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.30). The company had revenue of $10.03 billion during the quarter, compared to analysts’ expectations of $10.16 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. As a group, sell-side analysts predict that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Insiders Place Their Bets

In related news, Director Piazza Samuel A. Jr. Di purchased 17,346 shares of Warner Bros. Discovery stock in a transaction on Monday, March 3rd. The stock was acquired at an average price of $11.41 per share, for a total transaction of $197,917.86. Following the completion of the transaction, the director now directly owns 159,932 shares in the company, valued at $1,824,824.12. This represents a 12.17 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on WBD shares. Moffett Nathanson upgraded Warner Bros. Discovery from a “neutral” rating to a “buy” rating and raised their target price for the company from $9.00 to $13.00 in a research note on Tuesday, January 21st. The Goldman Sachs Group raised their target price on Warner Bros. Discovery from $9.50 to $10.75 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Barclays raised their target price on Warner Bros. Discovery from $10.00 to $12.00 and gave the company an “equal weight” rating in a research note on Friday, February 28th. Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a research note on Friday, February 28th. Finally, Barrington Research reiterated an “outperform” rating and set a $16.00 price objective on shares of Warner Bros. Discovery in a research note on Wednesday, March 5th. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Warner Bros. Discovery presently has an average rating of “Moderate Buy” and a consensus target price of $11.91.

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.