Bfsg LLC Buys 15,786 Shares of Warner Bros. Discovery, Inc. $WBD

Bfsg LLC boosted its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 11.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 156,906 shares of the company’s stock after purchasing an additional 15,786 shares during the period. Bfsg LLC’s holdings in Warner Bros. Discovery were worth $1,798,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its position in Warner Bros. Discovery by 17.0% in the 2nd quarter. GAMMA Investing LLC now owns 53,754 shares of the company’s stock valued at $616,000 after acquiring an additional 7,812 shares during the period. Farther Finance Advisors LLC increased its position in Warner Bros. Discovery by 10.9% in the 2nd quarter. Farther Finance Advisors LLC now owns 13,148 shares of the company’s stock valued at $151,000 after acquiring an additional 1,295 shares during the period. CX Institutional increased its position in Warner Bros. Discovery by 22.7% in the 2nd quarter. CX Institutional now owns 33,517 shares of the company’s stock valued at $384,000 after acquiring an additional 6,193 shares during the period. Kingstone Capital Partners Texas LLC acquired a new position in Warner Bros. Discovery in the 2nd quarter valued at approximately $4,089,000. Finally, IFM Investors Pty Ltd increased its position in Warner Bros. Discovery by 5.0% in the 2nd quarter. IFM Investors Pty Ltd now owns 442,964 shares of the company’s stock valued at $5,076,000 after acquiring an additional 20,926 shares during the period. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Warner Bros. Discovery Stock Up 1.6%

Warner Bros. Discovery stock opened at $19.64 on Tuesday. Warner Bros. Discovery, Inc. has a 1-year low of $7.25 and a 1-year high of $19.70. The firm has a market capitalization of $48.61 billion, a price-to-earnings ratio of 65.45, a price-to-earnings-growth ratio of 2.58 and a beta of 1.59. The firm’s fifty day moving average price is $13.28 and its two-hundred day moving average price is $10.98. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.92.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.63 earnings per share for the quarter, beating 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 firm had revenue of $9.81 billion for the quarter, compared to analyst estimates of $9.73 billion. During the same period last year, the firm earned ($4.07) earnings per share. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. On average, equities research analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Insider Buying and Selling at Warner Bros. Discovery

In other Warner Bros. Discovery news, CFO Gunnar Wiedenfels sold 530,793 shares of the firm’s 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 transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Anton J. Levy acquired 250,000 shares of the company’s stock in a transaction on Monday, August 11th. The stock was acquired at an average cost of $10.90 per share, for a total transaction of $2,725,000.00. Following the completion of the purchase, the director directly owned 874,000 shares of the company’s stock, valued at approximately $9,526,600. This represents a 40.06% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 970,115 shares of company stock valued at $17,818,490. Corporate insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on WBD. Benchmark restated a “buy” rating and issued a $18.00 price target on shares of Warner Bros. Discovery in a research report on Monday, July 14th. Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a research report on Friday, September 12th. TD Cowen restated a “hold” rating and issued a $14.00 price target on shares of Warner Bros. Discovery in a research report on Tuesday, September 16th. Wells Fargo & Company increased their price objective on shares of Warner Bros. Discovery from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 11th. Finally, Moffett Nathanson increased their price objective on shares of Warner Bros. Discovery from $14.00 to $23.00 and gave the stock a “buy” rating in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and fourteen have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $13.96.

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.