Sumitomo Mitsui Trust Group Inc. Has $53.99 Million Stock Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 10.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 5,108,231 shares of the company’s stock after acquiring an additional 498,689 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Warner Bros. Discovery were worth $53,994,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of WBD. State Street Corp raised its stake in shares of Warner Bros. Discovery by 4.1% during the 3rd quarter. State Street Corp now owns 151,285,963 shares of the company’s stock worth $1,248,109,000 after purchasing an additional 5,898,611 shares in the last quarter. Sessa Capital IM L.P. increased its holdings in Warner Bros. Discovery by 24.7% during the third quarter. Sessa Capital IM L.P. now owns 28,410,428 shares of the company’s stock worth $234,386,000 after buying an additional 5,625,545 shares during the last quarter. Drexel Morgan & Co. raised its position in Warner Bros. Discovery by 43.5% during the third quarter. Drexel Morgan & Co. now owns 6,600,463 shares of the company’s stock worth $54,454,000 after acquiring an additional 2,000,000 shares in the last quarter. Private Management Group Inc. grew its position in shares of Warner Bros. Discovery by 37.7% in the 3rd quarter. Private Management Group Inc. now owns 6,886,143 shares of the company’s stock valued at $56,811,000 after acquiring an additional 1,886,868 shares during the period. Finally, Worldquant Millennium Advisors LLC increased its stake in shares of Warner Bros. Discovery by 110.1% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 3,422,929 shares of the company’s stock worth $28,239,000 after purchasing an additional 1,793,404 shares during the last quarter. 59.95% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Warner Bros. Discovery

In related news, insider Savalle Sims sold 169,436 shares of Warner Bros. Discovery stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $12.36, for a total value of $2,094,228.96. Following the transaction, the insider now directly owns 599,317 shares of the company’s stock, valued at $7,407,558.12. This trade represents a 22.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.80% of the company’s stock.

Warner Bros. Discovery Stock Down 1.8 %

Shares of NASDAQ WBD opened at $9.98 on Tuesday. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $12.70. The stock’s fifty day moving average is $10.44 and its 200 day moving average is $9.00. 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 $24.48 billion, a P/E ratio of -2.18, a PEG ratio of 7.98 and a beta of 1.49.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on WBD shares. Barrington Research reiterated an “outperform” rating and set a $16.00 price target on shares of Warner Bros. Discovery in a report on Friday, December 13th. Guggenheim lifted their target price on Warner Bros. Discovery from $11.00 to $12.50 and gave the stock a “buy” rating in a research note on Thursday, December 12th. JPMorgan Chase & Co. increased their price target on Warner Bros. Discovery from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Barclays lifted their price objective on shares of Warner Bros. Discovery from $8.00 to $10.00 and gave the stock an “equal weight” rating in a research report on Friday, November 8th. Finally, Rosenblatt Securities increased their price objective on shares of Warner Bros. Discovery from $9.00 to $13.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $11.76.

About Warner Bros. Discovery

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.