Towerview LLC Has $974,000 Stock Holdings in Warner Bros. Discovery, Inc. $WBD

Towerview LLC trimmed its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 15.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 85,000 shares of the company’s stock after selling 15,000 shares during the quarter. Warner Bros. Discovery accounts for 0.7% of Towerview LLC’s portfolio, making the stock its 14th largest holding. Towerview LLC’s holdings in Warner Bros. Discovery were worth $974,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. WPG Advisers LLC acquired a new position in Warner Bros. Discovery during the first quarter worth $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. Trifecta Capital Advisors LLC bought a new position in Warner Bros. Discovery during the 2nd quarter valued at about $34,000. N.E.W. Advisory Services LLC bought a new position in Warner Bros. Discovery during the 1st quarter valued at about $36,000. Finally, Zions Bancorporation National Association UT acquired a new position in shares of Warner Bros. Discovery during the first quarter worth approximately $42,000. Institutional investors and hedge funds own 59.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on WBD. The Goldman Sachs Group upped their price target on Warner Bros. Discovery from $11.50 to $13.00 and gave the company a “neutral” rating in a research note on Tuesday, September 30th. Wells Fargo & Company boosted their price objective on Warner Bros. Discovery from $14.00 to $21.00 and gave the stock an “equal weight” rating in a report on Thursday, October 16th. Moffett Nathanson upped their target price on shares of Warner Bros. Discovery from $14.00 to $23.00 and gave the company a “buy” rating in a research report on Monday, September 22nd. Rothschild Redb upgraded shares of Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 30th. Finally, Arete boosted their price target on shares of Warner Bros. Discovery from $24.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, October 28th. Three research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and fifteen have issued a Hold rating to the stock. Based on data from MarketBeat, Warner Bros. Discovery has an average rating of “Moderate Buy” and a consensus target price of $19.91.

Warner Bros. Discovery Stock Down 1.5%

Shares of WBD opened at $22.42 on Friday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.04 and a current ratio of 1.04. Warner Bros. Discovery, Inc. has a 52 week low of $7.52 and a 52 week high of $23.06. The stock has a market capitalization of $55.51 billion, a price-to-earnings ratio of 74.74, a PEG ratio of 2.56 and a beta of 1.73. The stock has a fifty day moving average of $18.22 and a 200-day moving average of $13.32.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). Warner Bros. Discovery had a net margin of 2.00% and a return on equity of 2.14%. The business had revenue of $9.05 billion during the quarter, compared to the consensus estimate of $9.17 billion. During the same quarter last year, the business earned $0.05 EPS. The firm’s quarterly revenue was down 6.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Insider Activity

In other Warner Bros. Discovery news, Director Anton J. Levy purchased 250,000 shares of the business’s stock in a transaction dated Monday, August 11th. The shares were bought at an average price of $10.90 per share, for a total transaction of $2,725,000.00. Following the completion of the acquisition, the director owned 874,000 shares in the company, valued at approximately $9,526,600. This trade represents a 40.06% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Gunnar Wiedenfels sold 530,793 shares of the stock in a transaction on Monday, September 15th. The shares were sold at an average price of $19.50, for a total value of $10,350,463.50. Following the completion of the sale, the chief financial officer owned 1,141,150 shares of the company’s stock, valued at $22,252,425. The trade was a 31.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 1,192,325 shares of company stock valued at $22,818,215. Insiders own 1.80% of the company’s stock.

About Warner Bros. Discovery

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.