Mitsubishi UFJ Asset Management Co. Ltd. Increases Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 4.5% during the fourth quarter, HoldingsChannel reports. The firm owned 3,697,288 shares of the company’s stock after buying an additional 159,989 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Warner Bros. Discovery were worth $39,080,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Stonebridge Financial Group LLC purchased a new position in shares of Warner Bros. Discovery in the fourth quarter valued at $26,000. SRS Capital Advisors Inc. lifted its holdings in Warner Bros. Discovery by 313.4% in the 4th quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company’s stock worth $27,000 after buying an additional 1,940 shares in the last quarter. Graney & King LLC purchased a new position in Warner Bros. Discovery in the 4th quarter valued at about $28,000. Ethos Financial Group LLC acquired a new stake in shares of Warner Bros. Discovery during the fourth quarter valued at about $29,000. Finally, Briaud Financial Planning Inc increased its position in shares of Warner Bros. Discovery by 258.1% during the fourth quarter. Briaud Financial Planning Inc now owns 2,775 shares of the company’s stock worth $29,000 after acquiring an additional 2,000 shares during the last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on WBD shares. Barrington Research reissued an “outperform” rating and issued a $16.00 price target on shares of Warner Bros. Discovery in a report on Wednesday, March 5th. Moffett Nathanson upgraded Warner Bros. Discovery from a “neutral” rating to a “buy” rating and increased their target price for the company from $9.00 to $13.00 in a research note on Tuesday, January 21st. Benchmark restated a “buy” rating and issued a $18.00 price target on shares of Warner Bros. Discovery in a research note on Wednesday, February 26th. Rosenblatt Securities reiterated a “neutral” rating and set a $13.00 price objective on shares of Warner Bros. Discovery in a research note on Friday, March 7th. Finally, Citigroup boosted their target price 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 research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $11.91.

Warner Bros. Discovery Stock Performance

WBD stock opened at $10.37 on Friday. Warner Bros. Discovery, Inc. has a 1 year low of $6.64 and a 1 year high of $12.70. The stock has a market capitalization of $25.46 billion, a price-to-earnings ratio of -2.26, a PEG 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. The stock’s fifty day moving average is $10.52 and its two-hundred day moving average is $9.70.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.30). Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The firm had revenue of $10.03 billion during the quarter, compared to the consensus estimate of $10.16 billion. On average, research analysts predict that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Insider Transactions at Warner Bros. Discovery

In other Warner Bros. Discovery news, Director Piazza Samuel A. Jr. Di purchased 17,346 shares of the stock in a transaction dated Monday, March 3rd. The shares were bought at an average cost of $11.41 per share, with a total value of $197,917.86. Following the completion of the acquisition, the director now owns 159,932 shares of the company’s stock, valued at approximately $1,824,824.12. This trade represents a 12.17 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.80% of the company’s stock.

Warner Bros. Discovery Company 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.