Allianz SE Makes New Investment in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Allianz SE bought a new position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 260,000 shares of the company’s stock, valued at approximately $2,733,000.

Several other large investors have also recently bought and sold shares of the stock. Allstate Corp acquired a new position in shares of Warner Bros. Discovery in the fourth quarter valued at approximately $726,000. DnB Asset Management AS raised its position in shares of Warner Bros. Discovery by 295.4% in the fourth quarter. DnB Asset Management AS now owns 1,519,337 shares of the company’s stock valued at $16,059,000 after buying an additional 1,135,063 shares in the last quarter. Level Four Advisory Services LLC boosted its stake in shares of Warner Bros. Discovery by 7.6% in the fourth quarter. Level Four Advisory Services LLC now owns 26,503 shares of the company’s stock valued at $280,000 after buying an additional 1,866 shares during the period. Norges Bank acquired a new stake in Warner Bros. Discovery during the fourth quarter worth approximately $362,210,000. Finally, Caisse Des Depots ET Consignations bought a new position in Warner Bros. Discovery during the 4th quarter worth $1,079,000. 59.95% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on WBD shares. Citigroup increased their target price on Warner Bros. Discovery from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. JPMorgan Chase & Co. boosted their price objective on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Tuesday, January 14th. Barrington Research reaffirmed an “outperform” rating and issued a $16.00 target price on shares of Warner Bros. Discovery in a report on Wednesday, March 5th. Needham & Company LLC reissued a “hold” rating on shares of Warner Bros. Discovery in a report on Friday, February 28th. Finally, Barclays raised their price objective on Warner Bros. Discovery from $10.00 to $12.00 and gave the company an “equal weight” rating in a research note on Friday, February 28th. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $11.91.

Warner Bros. Discovery Price Performance

Shares of WBD opened at $10.37 on Friday. The business has a 50-day moving average of $10.52 and a 200-day moving average of $9.70. Warner Bros. Discovery, Inc. has a 1 year low of $6.64 and a 1 year high of $12.70. The company has a market capitalization of $25.46 billion, a price-to-earnings ratio of -2.26, a price-to-earnings-growth ratio of 8.64 and a beta of 1.48. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.30). Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The firm had revenue of $10.03 billion during the quarter, compared to analyst estimates of $10.16 billion. As a group, equities research analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Insider Buying and Selling at Warner Bros. Discovery

In other Warner Bros. Discovery news, Director Piazza Samuel A. Jr. Di purchased 17,346 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were purchased at an average cost of $11.41 per share, with a total value of $197,917.86. Following the completion of the purchase, the director now owns 159,932 shares in the company, valued at $1,824,824.12. This represents a 12.17 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.80% of the company’s stock.

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.