New York Life Investment Management LLC Has $3.87 Million Stock Holdings in Warner Bros. Discovery, Inc. $WBD

New York Life Investment Management LLC raised its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 2.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 337,274 shares of the company’s stock after acquiring an additional 6,773 shares during the period. New York Life Investment Management LLC’s holdings in Warner Bros. Discovery were worth $3,865,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Eastern Bank raised its position in shares of Warner Bros. Discovery by 11.6% during the 2nd quarter. Eastern Bank now owns 8,452 shares of the company’s stock valued at $97,000 after acquiring an additional 879 shares during the last quarter. Apollon Wealth Management LLC raised its position in shares of Warner Bros. Discovery by 2.1% during the 2nd quarter. Apollon Wealth Management LLC now owns 45,733 shares of the company’s stock valued at $524,000 after acquiring an additional 948 shares during the last quarter. Parkside Investments LLC grew its position in shares of Warner Bros. Discovery by 0.3% during the 2nd quarter. Parkside Investments LLC now owns 346,654 shares of the company’s stock worth $3,973,000 after buying an additional 1,000 shares during the period. Avior Wealth Management LLC grew its position in shares of Warner Bros. Discovery by 8.8% during the 2nd quarter. Avior Wealth Management LLC now owns 14,545 shares of the company’s stock worth $167,000 after buying an additional 1,176 shares during the period. Finally, Investors Asset Management of Georgia Inc. GA ADV grew its position in shares of Warner Bros. Discovery by 9.7% during the 2nd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 13,704 shares of the company’s stock worth $157,000 after buying an additional 1,213 shares during the period. Institutional investors own 59.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Raymond James Financial boosted their target price on Warner Bros. Discovery from $13.00 to $22.00 and gave the stock an “outperform” rating in a research report on Thursday, October 2nd. Barclays set a $20.00 target price on Warner Bros. Discovery in a research report on Wednesday, October 8th. Guggenheim upped their price objective on shares of Warner Bros. Discovery from $14.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Rothschild & Co Redburn upgraded shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and set a $28.00 price objective for the company in a research report on Thursday. Finally, Wells Fargo & Company upped their price objective on shares of Warner Bros. Discovery from $14.00 to $21.00 and gave the company an “equal weight” rating in a research report on Thursday, October 16th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and fifteen have issued a Hold rating to the stock. According to data from MarketBeat.com, Warner Bros. Discovery has an average rating of “Moderate Buy” and an average target price of $19.91.

Warner Bros. Discovery Price Performance

WBD opened at $21.62 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.92. Warner Bros. Discovery, Inc. has a 12 month low of $7.52 and a 12 month high of $21.84. The company has a fifty day simple moving average of $17.17 and a 200 day simple moving average of $12.82. The stock has a market cap of $53.53 billion, a P/E ratio of 72.07, a P/E/G ratio of 2.56 and a beta of 1.73.

Warner Bros. Discovery (NASDAQ:WBD) last released its earnings results on Thursday, August 7th. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.79. The firm had revenue of $9.81 billion during the quarter, compared to analysts’ expectations of $9.73 billion. Warner Bros. Discovery had a return on equity of 2.14% and a net margin of 2.00%.The company’s revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($4.07) EPS. On average, research analysts expect that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Insiders Place Their Bets

In other Warner Bros. Discovery news, insider Bruce Campbell sold 289,322 shares of the business’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $16.48, for a total value of $4,768,026.56. Following the sale, the insider owned 402,464 shares in the company, valued at approximately $6,632,606.72. The trade was a 41.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Anton J. Levy bought 250,000 shares of the business’s stock in a transaction on Monday, August 11th. The stock was purchased at an average price of $10.90 per share, for a total transaction of $2,725,000.00. Following the purchase, the director directly owned 874,000 shares in the company, valued at approximately $9,526,600. This represents a 40.06% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders sold 970,115 shares of company stock worth $17,818,490. Corporate 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.