Savant Capital LLC Has $797,000 Position in Warner Bros. Discovery, Inc. $WBD

Savant Capital LLC cut its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 11.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 69,566 shares of the company’s stock after selling 8,941 shares during the quarter. Savant Capital LLC’s holdings in Warner Bros. Discovery were worth $797,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Modera Wealth Management LLC acquired a new position in shares of Warner Bros. Discovery during the second quarter valued at about $135,000. Andra AP fonden bought a new stake in Warner Bros. Discovery in the 2nd quarter valued at about $1,249,000. Sound Shore Management Inc CT bought a new stake in Warner Bros. Discovery in the 2nd quarter valued at about $97,951,000. Resona Asset Management Co. Ltd. raised its stake in Warner Bros. Discovery by 9.1% during the 2nd quarter. Resona Asset Management Co. Ltd. now owns 775,290 shares of the company’s stock worth $8,866,000 after buying an additional 64,483 shares during the period. Finally, Claro Advisors LLC bought a new position in Warner Bros. Discovery in the second quarter worth approximately $127,000. 59.95% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Rothschild & Co Redburn upgraded Warner Bros. Discovery from a “neutral” rating to a “buy” rating and set a $28.00 price objective for the company in a report on Thursday, October 30th. Barclays set a $20.00 price target on shares of Warner Bros. Discovery in a research report on Wednesday, October 8th. Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a research note on Friday, September 12th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Warner Bros. Discovery in a research note on Thursday. Finally, KeyCorp reiterated a “sector weight” rating on shares of Warner Bros. Discovery in a report on Friday, September 26th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $21.92.

Warner Bros. Discovery Price Performance

Shares of NASDAQ:WBD opened at $23.03 on Friday. Warner Bros. Discovery, Inc. has a 1-year low of $7.52 and a 1-year 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 stock has a market cap of $57.02 billion, a PE ratio of 76.77, a price-to-earnings-growth ratio of 2.56 and a beta of 1.74. The stock’s fifty day simple moving average is $19.53 and its two-hundred day simple moving average is $13.92.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.06) earnings per share 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 firm had revenue of $9.05 billion for the quarter, compared to the consensus estimate of $9.17 billion. During the same period in the previous year, the business earned $0.05 earnings per share. The firm’s revenue for the quarter was down 6.0% on a year-over-year basis. As a group, analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Insider Activity at Warner Bros. Discovery

In related news, insider Bruce Campbell sold 289,322 shares of the stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $16.48, for a total transaction of $4,768,026.56. Following the completion of the sale, the insider directly owned 402,464 shares of the company’s stock, valued at approximately $6,632,606.72. This trade represents a 41.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Gunnar Wiedenfels sold 530,793 shares of Warner Bros. Discovery stock in a transaction on Monday, September 15th. The stock was sold at an average price of $19.50, for a total value of $10,350,463.50. Following the sale, the chief financial officer owned 1,141,150 shares in the company, valued at $22,252,425. This trade represents a 31.75% 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 have sold 1,192,325 shares of company stock worth $22,818,215. Insiders own 1.90% of the company’s stock.

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.