Auto Owners Insurance Co Has $270,000 Stock Position in Warner Bros. Discovery, Inc. $WBD

Auto Owners Insurance Co lifted its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 5.3% during the 2nd quarter, HoldingsChannel reports. The fund owned 23,527 shares of the company’s stock after buying an additional 1,177 shares during the period. Auto Owners Insurance Co’s holdings in Warner Bros. Discovery were worth $270,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of WBD. Brighton Jones LLC grew its stake in shares of Warner Bros. Discovery by 304.9% in the fourth quarter. Brighton Jones LLC now owns 68,950 shares of the company’s stock worth $729,000 after acquiring an additional 51,920 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Warner Bros. Discovery by 16.1% in the first quarter. GAMMA Investing LLC now owns 45,942 shares of the company’s stock worth $493,000 after acquiring an additional 6,354 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in shares of Warner Bros. Discovery by 4.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 219,391 shares of the company’s stock worth $2,354,000 after acquiring an additional 9,075 shares during the last quarter. Golden State Wealth Management LLC grew its stake in shares of Warner Bros. Discovery by 448.0% in the first quarter. Golden State Wealth Management LLC now owns 2,877 shares of the company’s stock worth $31,000 after acquiring an additional 2,352 shares during the last quarter. Finally, Sequoia Financial Advisors LLC grew its stake in shares of Warner Bros. Discovery by 2.6% in the first quarter. Sequoia Financial Advisors LLC now owns 62,966 shares of the company’s stock worth $676,000 after acquiring an additional 1,588 shares during the last quarter. Institutional investors and hedge funds own 59.95% of the company’s stock.

Insider Activity

In other news, insider Bruce Campbell sold 150,000 shares of the business’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $18.00, for a total value of $2,700,000.00. Following the sale, the insider owned 252,464 shares in the company, valued at approximately $4,544,352. The trade was a 37.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Gunnar Wiedenfels sold 530,793 shares of the business’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $19.50, for a total transaction of $10,350,463.50. Following the completion of the sale, the chief financial officer owned 1,141,150 shares in the company, valued at $22,252,425. This represents a 31.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 970,115 shares of company stock worth $17,818,490. Corporate insiders own 1.80% of the company’s stock.

Warner Bros. Discovery Stock Down 0.2%

Shares of NASDAQ:WBD opened at $20.99 on Wednesday. Warner Bros. Discovery, Inc. has a 52 week low of $7.49 and a 52 week high of $21.57. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.04 and a current ratio of 1.04. The company’s fifty day moving average is $16.78 and its 200-day moving average is $12.67. The company has a market capitalization of $51.97 billion, a PE ratio of 69.97, a P/E/G ratio of 2.56 and a beta of 1.73.

Warner Bros. Discovery (NASDAQ:WBD) last issued its earnings results on Thursday, August 7th. The company reported $0.63 EPS for the quarter, beating the consensus estimate 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 company had revenue of $9.81 billion for the quarter, compared to the consensus estimate of $9.73 billion. During the same quarter in the previous year, the company earned ($4.07) EPS. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. Equities research analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on WBD shares. Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a research note on Friday, September 12th. TD Cowen reissued a “hold” rating and issued a $14.00 price target on shares of Warner Bros. Discovery in a report on Tuesday, September 16th. Moffett Nathanson boosted their price target on shares of Warner Bros. Discovery from $14.00 to $23.00 and gave the company a “buy” rating in a report on Monday, September 22nd. Singular Research raised shares of Warner Bros. Discovery to a “moderate buy” rating in a report on Wednesday, October 22nd. Finally, Barrington Research boosted their price target on shares of Warner Bros. Discovery from $16.00 to $25.00 and gave the company an “outperform” rating in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and fifteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $19.14.

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.