Westpac Banking Corp trimmed its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD – Get Rating) by 14.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 261,502 shares of the company's stock after selling 44,669 shares during the quarter. Westpac Banking Corp's holdings in Warner Bros. Discovery were worth $2,479,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. ProShare Advisors LLC boosted its holdings in shares of Warner Bros. Discovery by 600.8% in the 4th quarter. ProShare Advisors LLC now owns 2,136,961 shares of the company's stock valued at $20,258,000 after purchasing an additional 1,832,035 shares in the last quarter. Boyar Asset Management Inc. bought a new stake in Warner Bros. Discovery during the 3rd quarter worth $1,370,000. Xponance Inc. grew its position in Warner Bros. Discovery by 13.2% during the 4th quarter. Xponance Inc. now owns 448,130 shares of the company's stock worth $4,248,000 after acquiring an additional 52,281 shares during the last quarter. Bessemer Group Inc. bought a new stake in Warner Bros. Discovery during the 3rd quarter worth $385,000. Finally, SG Americas Securities LLC bought a new stake in shares of Warner Bros. Discovery in the 3rd quarter valued at about $2,938,000. 55.18% of the stock is currently owned by institutional investors and hedge funds.
Get Warner Bros. Discovery alerts:Analysts Set New Price Targets
WBD has been the topic of a number of recent analyst reports. Wolfe Research raised Warner Bros. Discovery from a "peer perform" rating to an "outperform" rating and set a $20.00 price objective on the stock in a research note on Friday, March 17th. Morgan Stanley upped their price target on Warner Bros. Discovery from $14.00 to $17.00 and gave the stock an "equal weight" rating in a research note on Monday, January 30th. Rosenblatt Securities upped their price target on Warner Bros. Discovery from $9.00 to $11.00 and gave the stock a "sell" rating in a research note on Friday, February 24th. Wells Fargo & Company upgraded shares of Warner Bros. Discovery from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $13.00 to $20.00 in a research note on Friday, March 17th. Finally, Macquarie raised their price objective on shares of Warner Bros. Discovery from $16.00 to $20.00 and gave the company an "outperform" rating in a research note on Tuesday, January 31st. One analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $21.31.
Warner Bros. Discovery Price Performance
Shares of NASDAQ WBD opened at $13.61 on Monday. Warner Bros. Discovery, Inc. has a twelve month low of $8.82 and a twelve month high of $20.08. The stock's 50 day moving average price is $14.55 and its 200-day moving average price is $12.95. The company has a market capitalization of $33.07 billion, a PE ratio of -5.19, a PEG ratio of 2.01 and a beta of 1.47. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.01.
About Warner Bros. Discovery
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Warner Bros. Discovery, Inc operates as a media and entertainment company. It creates and distributes a portfolio of content and brands across television, film, and streaming. Its brands and products include Discovery Channel, discovery+, CNN, CNN+, DC, Eurosport, HBO, HBO Max, HGTV, Food Network, Investigation Discovery, TLC, TNT, TBS, truTV, Travel Channel, MotorTrend, Animal Planet, Science Channel, Warner Bros.
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