Empowered Funds LLC Acquires 2,949 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Empowered Funds LLC increased its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 5.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 61,303 shares of the company’s stock after buying an additional 2,949 shares during the period. Empowered Funds LLC’s holdings in Warner Bros. Discovery were worth $648,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Principal Financial Group Inc. grew its holdings in Warner Bros. Discovery by 3.1% in the third 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 during the last quarter. Hauser Brothers GmbH grew its holdings in Warner Bros. Discovery by 56.1% in the third quarter. Hauser Brothers GmbH now owns 1,225,000 shares of the company’s stock worth $10,106,000 after purchasing an additional 440,000 shares during the last quarter. Private Management Group Inc. grew its holdings in Warner Bros. Discovery by 37.7% in the third quarter. Private Management Group Inc. now owns 6,886,143 shares of the company’s stock worth $56,811,000 after purchasing an additional 1,886,868 shares during the last quarter. Erste Asset Management GmbH purchased a new position in Warner Bros. Discovery in the third quarter worth $1,474,000. Finally, Blueshift Asset Management LLC purchased a new stake in shares of Warner Bros. Discovery during the third quarter valued at $588,000. 59.95% of the stock is 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 that occurred on 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 sale, the insider now directly owns 599,317 shares in the company, valued at $7,407,558.12. This represents a 22.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on WBD shares. Guggenheim boosted their price objective on shares of Warner Bros. Discovery from $11.00 to $12.50 and gave the company a “buy” rating in a report on Thursday, December 12th. Moffett Nathanson raised shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and upped their price target for the company from $9.00 to $13.00 in a report on Tuesday, January 21st. Wolfe Research raised shares of Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a report on Monday, November 11th. Barclays upped their price target on shares of Warner Bros. Discovery from $8.00 to $10.00 and gave the company an “equal weight” rating in a report on Friday, November 8th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $16.00 price target on shares of Warner Bros. Discovery in a report on Friday, December 13th. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.76.

Warner Bros. Discovery Stock Performance

NASDAQ:WBD opened at $10.62 on Wednesday. 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 has a market capitalization of $26.05 billion, a P/E ratio of -2.32, a PEG ratio of 7.98 and a beta of 1.49. The company has a 50 day moving average price of $10.39 and a 200 day moving average price of $9.06. 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 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.