Midwest Trust Co Makes New Investment in Warner Bros. Discovery, Inc. $WBD

Midwest Trust Co acquired a new position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 55,364 shares of the company’s stock, valued at approximately $634,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Independent Franchise Partners LLP bought a new stake in Warner Bros. Discovery in the first quarter worth about $140,224,000. Nuveen LLC acquired a new position in shares of Warner Bros. Discovery during the first quarter valued at about $96,971,000. Sound Shore Management Inc CT acquired a new stake in Warner Bros. Discovery in the 2nd quarter worth approximately $97,951,000. Apollo Management Holdings L.P. acquired a new position in shares of Warner Bros. Discovery in the first quarter valued at about $65,031,000. Finally, Dimensional Fund Advisors LP lifted its holdings in Warner Bros. Discovery by 63.7% in the first quarter. Dimensional Fund Advisors LP now owns 12,839,389 shares of the company’s stock valued at $137,700,000 after acquiring an additional 4,994,894 shares during the period. 59.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on WBD shares. Barrington Research increased their price target on Warner Bros. Discovery from $16.00 to $25.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 28th. Seaport Global Securities upped their price objective on Warner Bros. Discovery from $15.00 to $24.00 and gave the company a “buy” rating in a report on Friday, October 3rd. Weiss Ratings lowered shares of Warner Bros. Discovery from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday. Morgan Stanley boosted their target price on Warner Bros. Discovery from $13.00 to $15.00 and gave the company an “equal weight” rating in a research report on Thursday, September 25th. Finally, Rothschild Redb upgraded Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 30th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $21.78.

Insider Buying and Selling at Warner Bros. Discovery

In other Warner Bros. Discovery news, insider Bruce Campbell sold 150,000 shares of the company’s stock in a transaction on 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 completion of the transaction, the insider owned 252,464 shares in the company, valued at approximately $4,544,352. This represents a 37.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Gunnar Wiedenfels sold 222,210 shares of Warner Bros. Discovery stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $22.50, for a total transaction of $4,999,725.00. Following the completion of the sale, the chief financial officer directly owned 918,940 shares in the company, valued at approximately $20,676,150. The trade was a 19.47% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 1,192,325 shares of company stock valued at $22,818,215. Corporate insiders own 1.90% of the company’s stock.

Warner Bros. Discovery Stock Performance

Shares of WBD stock opened at $23.05 on Wednesday. The stock’s 50-day moving average is $18.90 and its two-hundred day moving average is $13.70. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.04 and a current ratio of 1.04. Warner Bros. Discovery, Inc. has a 1 year low of $7.52 and a 1 year high of $23.19. The firm has a market cap of $57.07 billion, a price-to-earnings ratio of 76.84, a PEG ratio of 2.56 and a beta of 1.73.

Warner Bros. Discovery (NASDAQ:WBD) last announced 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). Warner Bros. Discovery had a net margin of 2.00% and a return on equity of 2.14%. The firm had revenue of $9.05 billion during the quarter, compared to analyst estimates of $9.17 billion. During the same period last year, the company earned $0.05 earnings per share. The firm’s revenue for the quarter was down 6.0% compared to the same quarter last year. Analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

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.