New York Life Investment Management LLC Increases Stock Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

New York Life Investment Management LLC increased its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 0.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 332,326 shares of the company’s stock after acquiring an additional 1,497 shares during the period. New York Life Investment Management LLC’s holdings in Warner Bros. Discovery were worth $3,513,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its holdings in 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 acquiring an additional 78,653 shares during the last quarter. Hauser Brothers GmbH raised its stake in Warner Bros. Discovery by 56.1% during the 3rd quarter. Hauser Brothers GmbH now owns 1,225,000 shares of the company’s stock valued at $10,106,000 after buying an additional 440,000 shares during the last quarter. Private Management Group Inc. raised its stake in Warner Bros. Discovery by 37.7% during the 3rd quarter. Private Management Group Inc. now owns 6,886,143 shares of the company’s stock valued at $56,811,000 after buying an additional 1,886,868 shares during the last quarter. Erste Asset Management GmbH purchased a new stake in Warner Bros. Discovery during the 3rd quarter valued at $1,474,000. Finally, Blueshift Asset Management LLC purchased a new stake in Warner Bros. Discovery during the 3rd quarter valued at $588,000. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Warner Bros. Discovery news, insider Savalle Sims sold 169,436 shares of the stock in a transaction dated 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 transaction, the insider now owns 599,317 shares of the company’s stock, valued at $7,407,558.12. This represents a 22.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on WBD shares. JPMorgan Chase & Co. boosted their target price on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Guggenheim boosted their target price on shares of Warner Bros. Discovery from $11.00 to $12.50 and gave the company a “buy” rating in a research note on Thursday, December 12th. Benchmark reiterated a “buy” rating and set a $18.00 target price on shares of Warner Bros. Discovery in a research note on Wednesday. Macquarie boosted their target price on shares of Warner Bros. Discovery from $8.00 to $9.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Finally, KeyCorp boosted 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. Ten research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $11.75.

Warner Bros. Discovery Trading Up 4.2 %

Shares of Warner Bros. Discovery stock opened at $11.46 on Friday. The company has a market capitalization of $28.11 billion, a P/E ratio of -2.50, 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 company has a fifty day moving average of $10.33 and a 200 day moving average of $9.25. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.64 and a fifty-two week high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last issued its earnings results 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). The firm had revenue of $10.03 billion during the quarter, compared to the consensus estimate of $10.16 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. On average, sell-side analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

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.