KBC Group NV Cuts Stock Holdings in Warner Bros. Discovery, Inc. $WBD

KBC Group NV lowered its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 78.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,519,147 shares of the company’s stock after selling 5,626,161 shares during the quarter. KBC Group NV owned approximately 0.06% of Warner Bros. Discovery worth $17,410,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in WBD. WPG Advisers LLC purchased a new position in Warner Bros. Discovery in the 1st quarter valued at $26,000. Trifecta Capital Advisors LLC purchased a new stake in shares of Warner Bros. Discovery during the second quarter worth $34,000. N.E.W. Advisory Services LLC acquired a new stake in shares of Warner Bros. Discovery in the first quarter valued at about $36,000. Zions Bancorporation National Association UT purchased a new position in shares of Warner Bros. Discovery in the first quarter worth about $42,000. Finally, ST Germain D J Co. Inc. boosted its position in Warner Bros. Discovery by 4,720.5% during the second quarter. ST Germain D J Co. Inc. now owns 4,001 shares of the company’s stock worth $46,000 after acquiring an additional 3,918 shares during the last quarter. 59.95% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Warner Bros. Discovery

In other Warner Bros. Discovery news, CFO Gunnar Wiedenfels sold 222,210 shares of the stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $22.50, for a total value 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 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 at this hyperlink. Also, 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 transaction of $2,700,000.00. Following the completion of the sale, the insider directly owned 252,464 shares of the company’s stock, valued at approximately $4,544,352. This trade represents a 37.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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.

Wall Street Analyst Weigh In

WBD has been the topic of a number of research reports. Arete Research raised shares of Warner Bros. Discovery to a “strong-buy” rating in a research note on Tuesday, October 28th. Bank of America increased their price target on Warner Bros. Discovery from $16.00 to $24.00 and gave the company a “buy” rating in a report on Tuesday, September 30th. Guggenheim boosted their price objective on Warner Bros. Discovery from $22.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. Rothschild Redb upgraded Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 30th. Finally, Rothschild & Co Redburn upgraded Warner Bros. Discovery from a “neutral” rating to a “buy” rating and set a $28.00 price target on the stock in a report on Thursday, October 30th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $21.92.

Warner Bros. Discovery Price Performance

Warner Bros. Discovery stock opened at $22.14 on Friday. The company’s 50 day simple moving average is $19.31 and its 200-day simple moving average is $13.82. 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 company has a market capitalization of $54.81 billion, a price-to-earnings ratio of 73.80, a price-to-earnings-growth ratio of 2.56 and a beta of 1.73.

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

About Warner Bros. Discovery

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.