National Pension Service Has $168.12 Million Stake in Warner Bros. Discovery, Inc. $WBD

National Pension Service boosted its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 56.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,833,563 shares of the company’s stock after acquiring an additional 2,094,220 shares during the quarter. National Pension Service’s holdings in Warner Bros. Discovery were worth $168,123,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Foundations Investment Advisors LLC increased its stake in Warner Bros. Discovery by 10.9% in the fourth quarter. Foundations Investment Advisors LLC now owns 13,630 shares of the company’s stock valued at $393,000 after acquiring an additional 1,335 shares during the period. Godfrey Financial Associates Inc. bought a new stake in Warner Bros. Discovery in the fourth quarter valued at about $53,000. IFG Advisory LLC bought a new stake in Warner Bros. Discovery in the fourth quarter valued at about $298,000. Huntington National Bank increased its stake in Warner Bros. Discovery by 2.2% in the fourth quarter. Huntington National Bank now owns 23,405 shares of the company’s stock valued at $675,000 after acquiring an additional 514 shares during the period. Finally, Kingsview Wealth Management LLC increased its stake in Warner Bros. Discovery by 8.4% in the fourth quarter. Kingsview Wealth Management LLC now owns 17,973 shares of the company’s stock valued at $518,000 after acquiring an additional 1,394 shares during the period. Institutional investors own 59.95% of the company’s stock.

Insider Activity at Warner Bros. Discovery

In other news, CFO Gunnar Wiedenfels sold 617,580 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $28.25, for a total transaction of $17,446,635.00. Following the transaction, the chief financial officer directly owned 691,570 shares in the company, valued at approximately $19,536,852.50. This represents a 47.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David Zaslav sold 4,004,149 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $28.26, for a total transaction of $113,157,250.74. Following the transaction, the chief executive officer owned 7,200,627 shares in the company, valued at $203,489,719.02. The trade was a 35.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 8,206,827 shares of company stock valued at $230,674,025 in the last three months. 1.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. UBS Group upped their target price on shares of Warner Bros. Discovery from $30.00 to $31.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Zacks Research cut shares of Warner Bros. Discovery from a “hold” rating to a “strong sell” rating in a research note on Friday, May 1st. Benchmark reissued a “hold” rating on shares of Warner Bros. Discovery in a research note on Friday, February 27th. Wells Fargo & Company assumed coverage on shares of Warner Bros. Discovery in a research note on Monday, March 9th. They issued an “equal weight” rating and a $31.00 target price on the stock. Finally, Raymond James Financial reissued an “underperform” rating on shares of Warner Bros. Discovery in a research note on Friday, February 27th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, thirteen have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $27.04.

Warner Bros. Discovery Price Performance

NASDAQ:WBD opened at $27.01 on Friday. The firm has a market cap of $67.72 billion, a PE ratio of -38.59 and a beta of 1.57. Warner Bros. Discovery, Inc. has a 12 month low of $9.11 and a 12 month high of $30.00. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.92. The company’s 50-day moving average price is $27.22 and its two-hundred day moving average price is $27.25.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($1.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($1.07). The firm had revenue of $8.89 billion during the quarter, compared to analyst estimates of $8.89 billion. Warner Bros. Discovery had a negative net margin of 4.67% and a negative return on equity of 4.77%. Warner Bros. Discovery’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.18) earnings per share. On average, equities analysts anticipate that Warner Bros. Discovery, Inc. will post -0.71 EPS for the current fiscal year.

Warner Bros. Discovery Company Profile

Warner Bros. Discovery (NASDAQ: WBD) is a global media and entertainment company formed when WarnerMedia and Discovery, Inc combined their businesses in 2022. Headquartered in New York City, the company assembles a broad portfolio of film and television production, linear and cable networks, streaming services and consumer distribution operations. Its assets span well-known studio brands, premium scripted and unscripted programming, news and factual entertainment, and licensed franchise properties.

The company’s core activities include film and television production and distribution through units such as Warner Bros.