Fisher Funds Management LTD Purchases New Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Fisher Funds Management LTD purchased a new stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 772,146 shares of the company’s stock, valued at approximately $8,212,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WBD. Golden State Equity Partners boosted its holdings in shares of Warner Bros. Discovery by 6.5% in the 4th quarter. Golden State Equity Partners now owns 16,124 shares of the company’s stock worth $170,000 after acquiring an additional 986 shares in the last quarter. Deseret Mutual Benefit Administrators lifted its holdings in Warner Bros. Discovery by 12.0% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 9,925 shares of the company’s stock worth $105,000 after buying an additional 1,066 shares in the last quarter. Cornerstone Wealth Management LLC lifted its holdings in Warner Bros. Discovery by 7.4% during the 4th quarter. Cornerstone Wealth Management LLC now owns 15,995 shares of the company’s stock worth $169,000 after buying an additional 1,101 shares in the last quarter. Avestar Capital LLC lifted its holdings in Warner Bros. Discovery by 9.4% during the 4th quarter. Avestar Capital LLC now owns 14,337 shares of the company’s stock worth $152,000 after buying an additional 1,228 shares in the last quarter. Finally, Commerce Bank lifted its holdings in Warner Bros. Discovery by 2.4% during the 3rd quarter. Commerce Bank now owns 55,963 shares of the company’s stock worth $462,000 after buying an additional 1,286 shares in the last quarter. 59.95% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Bank of America reaffirmed a “buy” rating and set a $14.00 price objective on shares of Warner Bros. Discovery in a report on Thursday, December 12th. Guggenheim upped their price objective on Warner Bros. Discovery from $11.00 to $12.50 and gave the stock a “buy” rating in a report on Thursday, December 12th. Barrington Research reaffirmed an “outperform” rating and set a $16.00 price objective on shares of Warner Bros. Discovery in a report on Friday, December 13th. KeyCorp upped their price objective on Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. Finally, Moffett Nathanson raised Warner Bros. Discovery from a “neutral” rating to a “buy” rating and increased their price target for the company from $9.00 to $13.00 in a research note on Tuesday, January 21st. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.76.

Warner Bros. Discovery Price Performance

WBD opened at $10.78 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70. The company has a fifty day simple moving average of $10.33 and a 200 day simple moving average of $9.13. The stock has a market cap of $26.45 billion, a P/E ratio of -2.35, a P/E/G ratio of 8.64 and a beta of 1.49.

Insider Activity at Warner Bros. Discovery

In other Warner Bros. Discovery news, insider Savalle Sims sold 169,436 shares of the stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $12.36, for a total transaction of $2,094,228.96. Following the completion of the transaction, the insider now owns 599,317 shares in the company, valued at approximately $7,407,558.12. This represents a 22.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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.