Ballentine Partners LLC grew its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD – Free Report) by 11.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,731 shares of the company’s stock after purchasing an additional 1,541 shares during the period. Ballentine Partners LLC’s holdings in Warner Bros. Discovery were worth $222,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Moneta Group Investment Advisors LLC raised its holdings in Warner Bros. Discovery by 124,559.2% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 28,075,738 shares of the company’s stock worth $266,158,000 after acquiring an additional 28,053,216 shares in the last quarter. Norges Bank bought a new stake in Warner Bros. Discovery during the fourth quarter worth about $196,222,000. Newport Trust Co raised its holdings in Warner Bros. Discovery by 15.4% during the fourth quarter. Newport Trust Co now owns 51,205,017 shares of the company’s stock worth $485,424,000 after acquiring an additional 6,850,256 shares in the last quarter. Deutsche Bank AG raised its holdings in Warner Bros. Discovery by 45.2% during the fourth quarter. Deutsche Bank AG now owns 17,907,383 shares of the company’s stock worth $169,762,000 after acquiring an additional 5,570,418 shares in the last quarter. Finally, Korea Investment CORP raised its holdings in Warner Bros. Discovery by 153.1% during the fourth quarter. Korea Investment CORP now owns 8,895,253 shares of the company’s stock worth $84,327,000 after acquiring an additional 5,381,367 shares in the last quarter. 56.08% of the stock is currently owned by institutional investors.
Warner Bros. Discovery Price Performance
Warner Bros. Discovery stock opened at $12.31 on Tuesday. Warner Bros. Discovery, Inc. has a 12 month low of $8.82 and a 12 month high of $17.65. The stock’s 50 day moving average is $12.49 and its 200-day moving average is $13.49. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $29.99 billion, a price-to-earnings ratio of -3.28 and a beta of 1.51.
Insider Transactions at Warner Bros. Discovery
In related news, CFO Gunnar Wiedenfels bought 15,000 shares of Warner Bros. Discovery stock in a transaction dated Thursday, May 25th. The shares were bought at an average cost of $11.22 per share, with a total value of $168,300.00. Following the acquisition, the chief financial officer now owns 738,849 shares in the company, valued at approximately $8,289,885.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on WBD shares. Truist Financial started coverage on Warner Bros. Discovery in a report on Monday, April 10th. They set a “buy” rating and a $19.00 target price on the stock. 22nd Century Group reissued a “maintains” rating on shares of Warner Bros. Discovery in a research report on Monday, May 8th. Barrington Research raised Warner Bros. Discovery from a “market perform” rating to an “outperform” rating and set a $18.00 price target on the stock in a research report on Tuesday, May 16th. Finally, Wolfe Research downgraded Warner Bros. Discovery from an “outperform” rating to a “peer perform” rating in a research report on Friday, July 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $20.42.
About Warner Bros. Discovery
Warner Bros. Discovery, Inc, operates 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 lienses television programs to third parties and networks 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.
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