Forsta AP Fonden Boosts Holdings in Warner Bros. Discovery, Inc. $WBD

Forsta AP Fonden raised its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 4.1% during the second quarter, Holdings Channel reports. The fund owned 476,469 shares of the company’s stock after buying an additional 18,600 shares during the period. Forsta AP Fonden’s holdings in Warner Bros. Discovery were worth $5,460,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Brighton Jones LLC grew its stake in Warner Bros. Discovery by 304.9% during the fourth quarter. Brighton Jones LLC now owns 68,950 shares of the company’s stock valued at $729,000 after acquiring an additional 51,920 shares in the last quarter. Cerity Partners LLC boosted its holdings in Warner Bros. Discovery by 2.2% in the 1st quarter. Cerity Partners LLC now owns 251,582 shares of the company’s stock valued at $2,699,000 after purchasing an additional 5,377 shares during the period. Ballentine Partners LLC purchased a new position in shares of Warner Bros. Discovery during the 1st quarter valued at $170,000. CWM LLC increased its holdings in shares of Warner Bros. Discovery by 9.8% in the first quarter. CWM LLC now owns 74,248 shares of the company’s stock worth $797,000 after purchasing an additional 6,601 shares during the period. Finally, Bleakley Financial Group LLC increased its holdings in shares of Warner Bros. Discovery by 44.3% in the first quarter. Bleakley Financial Group LLC now owns 22,509 shares of the company’s stock worth $242,000 after purchasing an additional 6,915 shares during the period. Institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Up 4.0%

WBD opened at $23.03 on Friday. Warner Bros. Discovery, Inc. has a 12 month low of $7.52 and a 12 month high of $23.19. 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 business’s 50-day moving average price is $19.53 and its 200-day moving average price is $13.92. The company has a market cap of $57.02 billion, a P/E ratio of 76.77, a P/E/G ratio of 2.56 and a beta of 1.74.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.02). The company 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 2.14% and a net margin of 2.00%.Warner Bros. Discovery’s revenue was down 6.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.05 earnings per share. On average, equities analysts expect that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently commented on WBD shares. Guggenheim boosted their target price on Warner Bros. Discovery from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Morgan Stanley boosted their price objective on Warner Bros. Discovery from $13.00 to $15.00 and gave the stock an “equal weight” rating in a report on Thursday, September 25th. Barrington Research reiterated an “outperform” rating and set a $25.00 target price on shares of Warner Bros. Discovery in a research report on Friday. Sanford C. Bernstein raised their price objective on shares of Warner Bros. Discovery from $16.00 to $23.50 in a research report on Friday, November 7th. Finally, Raymond James Financial increased their target price on Warner Bros. Discovery from $22.00 to $25.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $21.92.

Insiders Place Their Bets

In other Warner Bros. Discovery news, CFO Gunnar Wiedenfels sold 222,210 shares of the business’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $22.50, for a total value of $4,999,725.00. Following the transaction, the chief financial officer owned 918,940 shares in the company, valued at approximately $20,676,150. The trade was a 19.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Bruce Campbell sold 150,000 shares of the company’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $18.00, for a total transaction of $2,700,000.00. Following the transaction, the insider directly owned 252,464 shares of the company’s stock, valued at approximately $4,544,352. This trade represents a 37.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 1,192,325 shares of company stock worth $22,818,215. Insiders own 1.90% of the company’s stock.

Warner Bros. Discovery Company 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.