Warner Bros. Discovery, Inc. $WBD Shares Sold by Profund Advisors LLC

Profund Advisors LLC decreased its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 3.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 282,899 shares of the company’s stock after selling 11,445 shares during the period. Profund Advisors LLC’s holdings in Warner Bros. Discovery were worth $3,242,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of WBD. WPG Advisers LLC purchased a new stake in Warner Bros. Discovery during the first quarter worth about $26,000. Trifecta Capital Advisors LLC purchased a new position in Warner Bros. Discovery in the 2nd quarter valued at approximately $34,000. N.E.W. Advisory Services LLC purchased a new stake in Warner Bros. Discovery during the first quarter worth $36,000. Zions Bancorporation National Association UT acquired a new stake in Warner Bros. Discovery in the first quarter valued at $42,000. Finally, ST Germain D J Co. Inc. raised its stake in shares of Warner Bros. Discovery by 4,720.5% during the 2nd quarter. ST Germain D J Co. Inc. now owns 4,001 shares of the company’s stock worth $46,000 after buying an additional 3,918 shares during the last quarter. Institutional investors and hedge funds own 59.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Arete lifted their target price on shares of Warner Bros. Discovery from $24.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, October 28th. UBS Group upped their target price on Warner Bros. Discovery from $10.00 to $20.00 and gave the company a “neutral” rating in a research note on Monday, October 6th. Barclays set a $20.00 price target on Warner Bros. Discovery in a research report on Wednesday, October 8th. Wells Fargo & Company boosted their target price on shares of Warner Bros. Discovery from $21.00 to $25.00 and gave the company an “equal weight” rating in a research note on Friday. Finally, Guggenheim upped their target price on Warner Bros. Discovery from $22.00 to $25.00 and gave the company a “buy” rating in a research note on Friday. Three research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $21.70.

Warner Bros. Discovery Stock Performance

Shares of WBD stock opened at $22.67 on Monday. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.04 and a quick ratio of 1.04. The company’s fifty day moving average price is $18.44 and its two-hundred day moving average price is $13.50. The firm has a market capitalization of $56.13 billion, a P/E ratio of 75.57, a P/E/G ratio of 2.56 and a beta of 1.74. Warner Bros. Discovery, Inc. has a 12 month low of $7.52 and a 12 month high of $23.06.

Warner Bros. Discovery (NASDAQ:WBD) last issued its earnings results on Thursday, November 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). The company had revenue of $9.05 billion during the quarter, compared to analyst estimates of $9.17 billion. Warner Bros. Discovery had a net margin of 2.00% and a return on equity of 2.14%. The business’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.05 EPS. On average, research analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Gunnar Wiedenfels sold 222,210 shares of the firm’s stock in a transaction on Friday, October 31st. The stock was sold at an average price of $22.50, for a total transaction of $4,999,725.00. Following the transaction, the chief financial officer directly owned 918,940 shares in the company, valued at $20,676,150. This trade represents a 19.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Bruce Campbell sold 150,000 shares of the business’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $18.00, for a total transaction of $2,700,000.00. Following the sale, the insider directly owned 252,464 shares of the company’s stock, valued at approximately $4,544,352. This represents a 37.27% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 1,192,325 shares of company stock worth $22,818,215. 1.90% of the stock is currently owned by insiders.

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.