Mitsubishi UFJ Trust & Banking Corp Sells 36,464 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Mitsubishi UFJ Trust & Banking Corp cut its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 3.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,035,559 shares of the company’s stock after selling 36,464 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Warner Bros. Discovery were worth $10,946,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of WBD. Contrarius Group Holdings Ltd purchased a new stake in shares of Warner Bros. Discovery in the fourth quarter valued at about $168,930,000. State Street Corp grew its position in Warner Bros. Discovery by 4.1% in 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. Amundi increased its stake in Warner Bros. Discovery by 108.1% in the 4th quarter. Amundi now owns 10,151,114 shares of the company’s stock valued at $102,120,000 after buying an additional 5,272,717 shares during the last quarter. Pine Valley Investments Ltd Liability Co bought a new position in shares of Warner Bros. Discovery during the 4th quarter worth approximately $23,825,000. Finally, LBP AM SA purchased a new position in shares of Warner Bros. Discovery in the 4th quarter worth approximately $21,032,000. 59.95% of the stock is owned by hedge funds and other institutional investors.

Warner Bros. Discovery Price Performance

WBD stock opened at $10.37 on Friday. The firm has a 50 day moving average of $10.52 and a 200-day moving average of $9.70. The firm has a market capitalization of $25.46 billion, a P/E ratio of -2.26, a price-to-earnings-growth ratio of 8.64 and a beta of 1.48. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on WBD. Barrington Research reaffirmed an “outperform” rating and set a $16.00 price target on shares of Warner Bros. Discovery in a research report on Wednesday, March 5th. Citigroup lifted their target price on Warner Bros. Discovery from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. JPMorgan Chase & Co. increased their price target 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. KeyCorp lifted their price objective on shares of Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. Finally, Rosenblatt Securities reissued a “neutral” rating and set a $13.00 target price on shares of Warner Bros. Discovery in a research report on Friday, March 7th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Warner Bros. Discovery presently has an average rating of “Moderate Buy” and a consensus price target of $11.91.

Insider Activity at Warner Bros. Discovery

In other Warner Bros. Discovery news, Director Piazza Samuel A. Jr. Di purchased 17,346 shares of the stock in a transaction on Monday, March 3rd. The shares were purchased at an average price of $11.41 per share, with a total value of $197,917.86. Following the acquisition, the director now directly owns 159,932 shares in the company, valued at approximately $1,824,824.12. The trade was a 12.17 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.80% of the stock is owned by corporate insiders.

Warner Bros. Discovery 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.