Keybank National Association OH Boosts Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Keybank National Association OH raised its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 2.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 115,207 shares of the company’s stock after acquiring an additional 2,378 shares during the period. Keybank National Association OH’s holdings in Warner Bros. Discovery were worth $1,218,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Asset Management One Co. Ltd. boosted its holdings in shares of Warner Bros. Discovery by 5.5% in the 3rd quarter. Asset Management One Co. Ltd. now owns 919,611 shares of the company’s stock worth $7,587,000 after purchasing an additional 47,542 shares in the last quarter. M&G PLC boosted its holdings in shares of Warner Bros. Discovery by 84.5% in the 3rd quarter. M&G PLC now owns 1,132,579 shares of the company’s stock worth $9,061,000 after purchasing an additional 518,750 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Warner Bros. Discovery by 3.1% in the 3rd quarter. Principal Financial Group Inc. now owns 2,579,571 shares of the company’s stock worth $21,281,000 after purchasing an additional 78,653 shares in the last quarter. Deseret Mutual Benefit Administrators boosted its holdings in shares of Warner Bros. Discovery by 23.4% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 8,859 shares of the company’s stock worth $73,000 after purchasing an additional 1,682 shares in the last quarter. Finally, Pegasus Partners Ltd. boosted its holdings in shares of Warner Bros. Discovery by 80.5% in the 3rd quarter. Pegasus Partners Ltd. now owns 47,095 shares of the company’s stock worth $389,000 after purchasing an additional 21,000 shares in the last quarter. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Warner Bros. Discovery

In other news, insider Savalle Sims sold 169,436 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was 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 in the company, valued at $7,407,558.12. This trade represents a 22.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Piazza Samuel A. Jr. Di purchased 17,346 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was purchased at an average price of $11.41 per share, for a total transaction of $197,917.86. Following the completion of the purchase, the director now owns 159,932 shares in the company, valued at approximately $1,824,824.12. The trade was a 12.17 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on WBD. Citigroup upped their price objective on Warner Bros. Discovery from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday. Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a report on Friday, February 28th. KeyCorp upped their price objective on Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. Raymond James increased their target price on Warner Bros. Discovery from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Finally, Bank of America restated a “buy” rating and set a $14.00 target price on shares of Warner Bros. Discovery in a report on Thursday, December 12th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $11.91.

Warner Bros. Discovery Stock Up 3.5 %

Shares of NASDAQ:WBD opened at $11.07 on Friday. Warner Bros. Discovery, Inc. has a 52-week low of $6.64 and a 52-week high of $12.70. The firm has a market capitalization of $27.16 billion, a P/E ratio of -2.42, a P/E/G ratio of 8.64 and a beta of 1.48. The stock has a 50 day moving average price of $10.38 and a 200-day moving average price of $9.36. 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 (NASDAQ:WBD) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $10.03 billion for the quarter, compared to the consensus estimate of $10.16 billion. As a group, equities research analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

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.