Contrarius Group Holdings Ltd Purchases New Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Contrarius Group Holdings Ltd purchased a new stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 15,982,000 shares of the company’s stock, valued at approximately $168,930,000. Warner Bros. Discovery comprises 10.3% of Contrarius Group Holdings Ltd’s holdings, making the stock its biggest holding. Contrarius Group Holdings Ltd owned approximately 0.65% of Warner Bros. Discovery as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in WBD. Stonebridge Financial Group LLC purchased a new position in Warner Bros. Discovery during the 4th quarter valued at $26,000. SRS Capital Advisors Inc. increased its position in Warner Bros. Discovery by 313.4% during the 4th quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company’s stock valued at $27,000 after purchasing an additional 1,940 shares during the period. Ethos Financial Group LLC purchased a new position in Warner Bros. Discovery during the 4th quarter valued at $29,000. Briaud Financial Planning Inc increased its position in Warner Bros. Discovery by 258.1% during the 4th quarter. Briaud Financial Planning Inc now owns 2,775 shares of the company’s stock valued at $29,000 after purchasing an additional 2,000 shares during the period. Finally, Sugar Maple Asset Management LLC purchased a new position in Warner Bros. Discovery during the 4th quarter valued at $33,000. 59.95% of the stock is owned by hedge funds and other institutional investors.

Warner Bros. Discovery Trading Up 5.1 %

Warner Bros. Discovery stock opened at $10.92 on Thursday. The firm has a 50 day moving average of $10.35 and a 200 day moving average of $9.53. The firm has a market capitalization of $26.81 billion, a price-to-earnings ratio of -2.38, a P/E/G 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 released its earnings results on Thursday, February 27th. The company reported ($0.20) earnings per share (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 analysts’ expectations of $10.16 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. As a group, research analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was acquired at an average cost 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 $1,824,824.12. This represents a 12.17 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on WBD. Benchmark reaffirmed a “buy” rating and issued a $18.00 target price on shares of Warner Bros. Discovery in a research report on Wednesday, February 26th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $13.00 target price on shares of Warner Bros. Discovery in a research report on Friday, March 7th. Bank of America reaffirmed a “buy” rating and issued a $14.00 target price on shares of Warner Bros. Discovery in a research report on Thursday, December 12th. Moffett Nathanson raised shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and upped their target price for the stock from $9.00 to $13.00 in a research report on Tuesday, January 21st. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a research report on Friday, February 28th. Ten investment 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 target price of $11.91.

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.