Allianz Asset Management GmbH Has $39.58 Million Stock Holdings in Warner Bros. Discovery, Inc. $WBD

Allianz Asset Management GmbH lifted its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 1,717.8% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 3,453,795 shares of the company’s stock after buying an additional 3,263,794 shares during the quarter. Allianz Asset Management GmbH’s holdings in Warner Bros. Discovery were worth $39,580,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. WPG Advisers LLC acquired a new stake in shares of Warner Bros. Discovery during the 1st quarter worth about $26,000. Financial Gravity Asset Management Inc. acquired a new stake in shares of Warner Bros. Discovery during the 1st quarter worth about $27,000. North Capital Inc. acquired a new stake in shares of Warner Bros. Discovery during the 1st quarter worth about $28,000. Smallwood Wealth Investment Management LLC acquired a new stake in shares of Warner Bros. Discovery during the 1st quarter worth about $29,000. Finally, Golden State Wealth Management LLC lifted its stake in shares of Warner Bros. Discovery by 448.0% during the 1st quarter. Golden State Wealth Management LLC now owns 2,877 shares of the company’s stock worth $31,000 after buying an additional 2,352 shares during the last quarter. Institutional investors and hedge funds own 59.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on WBD shares. UBS Group raised their target price on shares of Warner Bros. Discovery from $10.00 to $20.00 and gave the stock a “neutral” rating in a research note on Monday, October 6th. Benchmark reissued a “buy” rating and issued a $18.00 price objective on shares of Warner Bros. Discovery in a report on Monday, July 14th. The Goldman Sachs Group boosted their price objective on shares of Warner Bros. Discovery from $11.50 to $13.00 and gave the company a “neutral” rating in a report on Tuesday, September 30th. Moffett Nathanson boosted their price objective on shares of Warner Bros. Discovery from $14.00 to $23.00 and gave the company a “buy” rating in a report on Monday, September 22nd. Finally, Morgan Stanley boosted their price objective on shares of Warner Bros. Discovery from $13.00 to $15.00 and gave the company an “equal weight” rating in a report on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and sixteen have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $17.00.

Insider Transactions at Warner Bros. Discovery

In other news, Director Anton J. Levy purchased 75,000 shares of the business’s stock in a transaction dated Tuesday, August 12th. The stock was bought at an average price of $11.00 per share, with a total value of $825,000.00. Following the acquisition, the director owned 949,000 shares in the company, valued at approximately $10,439,000. The trade was a 8.58% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Gunnar Wiedenfels sold 530,793 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $19.50, for a total transaction of $10,350,463.50. Following the sale, the chief financial officer directly owned 1,141,150 shares of the company’s stock, valued at approximately $22,252,425. This trade represents a 31.75% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 970,115 shares of company stock valued at $17,818,490. Company insiders own 1.90% of the company’s stock.

Warner Bros. Discovery Stock Performance

Shares of Warner Bros. Discovery stock opened at $18.19 on Friday. The company has a 50 day moving average of $15.52 and a 200-day moving average of $12.05. Warner Bros. Discovery, Inc. has a 1-year low of $7.25 and a 1-year high of $20.24. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.92. The company has a market cap of $45.03 billion, a PE ratio of 60.64, a price-to-earnings-growth ratio of 2.22 and a beta of 1.73.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.79. Warner Bros. Discovery had a net margin of 2.00% and a return on equity of 2.14%. The company had revenue of $9.81 billion during the quarter, compared to the consensus estimate of $9.73 billion. During the same quarter in the prior year, the firm posted ($4.07) EPS. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. As a group, equities research analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

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.