Penserra Capital Management LLC Purchases 42,778 Shares of Warner Bros. Discovery, Inc. $WBD

Penserra Capital Management LLC boosted its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 68.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 104,842 shares of the company’s stock after acquiring an additional 42,778 shares during the period. Penserra Capital Management LLC’s holdings in Warner Bros. Discovery were worth $2,047,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Physician Wealth Advisors Inc. lifted its position in shares of Warner Bros. Discovery by 152.1% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 1,404 shares of the company’s stock worth $27,000 after purchasing an additional 847 shares during the last quarter. Grove Bank & Trust grew its holdings in Warner Bros. Discovery by 66.5% in the 3rd quarter. Grove Bank & Trust now owns 1,690 shares of the company’s stock valued at $33,000 after buying an additional 675 shares during the last quarter. Crews Bank & Trust increased its position in Warner Bros. Discovery by 1,242.2% in the 3rd quarter. Crews Bank & Trust now owns 1,718 shares of the company’s stock worth $34,000 after buying an additional 1,590 shares during the period. Meeder Asset Management Inc. lifted its holdings in shares of Warner Bros. Discovery by 183.9% during the third quarter. Meeder Asset Management Inc. now owns 1,891 shares of the company’s stock worth $37,000 after buying an additional 1,225 shares during the last quarter. Finally, Cranbrook Wealth Management LLC boosted its position in shares of Warner Bros. Discovery by 73.8% in the third quarter. Cranbrook Wealth Management LLC now owns 1,929 shares of the company’s stock valued at $38,000 after acquiring an additional 819 shares during the period. 59.95% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Warner Bros. Discovery news, CAO Lori C. Locke sold 5,000 shares of the company’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $27.62, for a total value of $138,100.00. Following the sale, the chief accounting officer directly owned 110,084 shares in the company, valued at $3,040,520.08. This represents a 4.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Gunnar Wiedenfels sold 242,994 shares of Warner Bros. Discovery stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $29.50, for a total value of $7,168,323.00. Following the transaction, the chief financial officer directly owned 918,940 shares of the company’s stock, valued at approximately $27,108,730. The trade was a 20.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 267,116 shares of company stock valued at $7,781,731. 1.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on WBD shares. Moffett Nathanson boosted their target price on shares of Warner Bros. Discovery from $26.00 to $31.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Rothschild & Co Redburn set a $28.00 price target on shares of Warner Bros. Discovery in a research report on Thursday, October 30th. Weiss Ratings downgraded shares of Warner Bros. Discovery from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday. Barrington Research lowered shares of Warner Bros. Discovery from an “outperform” rating to a “hold” rating in a research report on Friday, December 5th. Finally, UBS Group lifted their target price on Warner Bros. Discovery from $20.00 to $30.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 28th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $24.94.

Warner Bros. Discovery Stock Performance

NASDAQ WBD opened at $27.35 on Friday. Warner Bros. Discovery, Inc. has a twelve month low of $7.52 and a twelve month high of $30.00. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.90. The stock has a market cap of $67.77 billion, a P/E ratio of 143.95 and a beta of 1.64. The company’s 50-day simple moving average is $28.06 and its 200 day simple moving average is $21.03.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). The business had revenue of $9.05 billion for the quarter, compared to the consensus estimate of $9.17 billion. Warner Bros. Discovery had a return on equity of 1.34% and a net margin of 1.28%.The firm’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.05 EPS. As a group, research analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

About Warner Bros. Discovery

Warner Bros. Discovery (NASDAQ: WBD) is a global media and entertainment company formed when WarnerMedia and Discovery, Inc combined their businesses in 2022. Headquartered in New York City, the company assembles a broad portfolio of film and television production, linear and cable networks, streaming services and consumer distribution operations. Its assets span well-known studio brands, premium scripted and unscripted programming, news and factual entertainment, and licensed franchise properties.

The company’s core activities include film and television production and distribution through units such as Warner Bros.