Warner Bros. Discovery, Inc. $WBD Shares Purchased by Guardian Investment Management

Guardian Investment Management lifted its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 9.4% during the second quarter, HoldingsChannel.com reports. The fund owned 91,703 shares of the company’s stock after acquiring an additional 7,856 shares during the period. Guardian Investment Management’s holdings in Warner Bros. Discovery were worth $1,051,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Voya Investment Management LLC boosted its stake in shares of Warner Bros. Discovery by 34.9% in the first quarter. Voya Investment Management LLC now owns 7,035,842 shares of the company’s stock worth $75,495,000 after acquiring an additional 1,820,249 shares during the last quarter. Bfsg LLC boosted its stake in shares of Warner Bros. Discovery by 11.2% in the second quarter. Bfsg LLC now owns 156,906 shares of the company’s stock worth $1,798,000 after acquiring an additional 15,786 shares during the last quarter. Hi Line Capital Management LLC boosted its stake in shares of Warner Bros. Discovery by 17.8% in the first quarter. Hi Line Capital Management LLC now owns 597,478 shares of the company’s stock worth $6,411,000 after acquiring an additional 90,462 shares during the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Warner Bros. Discovery in the second quarter worth approximately $4,089,000. Finally, Mn Services Vermogensbeheer B.V. lifted its position in Warner Bros. Discovery by 4.3% during the second quarter. Mn Services Vermogensbeheer B.V. now owns 878,600 shares of the company’s stock worth $10,069,000 after buying an additional 36,100 shares in the last quarter. 59.95% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Bruce Campbell sold 150,000 shares of the business’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $18.00, for a total transaction of $2,700,000.00. Following the completion of the transaction, the insider directly owned 252,464 shares of the company’s stock, valued at $4,544,352. The trade was a 37.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Gunnar Wiedenfels sold 530,793 shares of the business’s 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 transaction, the chief financial officer directly 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. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 970,115 shares of company stock valued at $17,818,490. 1.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

WBD has been the topic of a number of analyst reports. Moffett Nathanson lifted their price objective on Warner Bros. Discovery from $14.00 to $23.00 and gave the stock a “buy” rating in a research report on Monday, September 22nd. Barclays lifted their price objective on Warner Bros. Discovery from $9.00 to $13.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 9th. Guggenheim reiterated a “buy” rating on shares of Warner Bros. Discovery in a research report on Tuesday, June 10th. Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a research report on Friday, September 12th. Finally, KeyCorp reiterated a “sector weight” rating on shares of Warner Bros. Discovery in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and fifteen have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Warner Bros. Discovery currently has an average rating of “Hold” and an average target price of $14.07.

Warner Bros. Discovery Trading Down 1.4%

Shares of NASDAQ WBD opened at $19.51 on Friday. Warner Bros. Discovery, Inc. has a twelve month low of $7.25 and a twelve month 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 stock has a fifty day simple moving average of $13.85 and a 200-day simple moving average of $11.23. The stock has a market capitalization of $48.30 billion, a PE ratio of 65.04, a PEG ratio of 2.54 and a beta of 1.59.

Warner Bros. Discovery (NASDAQ:WBD) last issued 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 return on equity of 2.14% and a net margin of 2.00%.The business had revenue of $9.81 billion during the quarter, compared to analysts’ expectations of $9.73 billion. During the same period in the previous year, the firm posted ($4.07) earnings per share. The company’s revenue was up 1.0% on a year-over-year basis. On average, equities analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

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.