Vanguard Group Inc. Purchases 5,657,524 Shares of Warner Bros. Discovery, Inc. $WBD

Vanguard Group Inc. boosted its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 2.2% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 262,477,555 shares of the company’s stock after buying an additional 5,657,524 shares during the quarter. Vanguard Group Inc. owned approximately 0.11% of Warner Bros. Discovery worth $3,007,993,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. WPG Advisers LLC bought a new position in Warner Bros. Discovery in the 1st quarter worth approximately $26,000. Financial Gravity Companies Inc. purchased a new stake in Warner Bros. Discovery in the second quarter valued at approximately $29,000. Trifecta Capital Advisors LLC bought a new stake in Warner Bros. Discovery during the second quarter valued at approximately $34,000. N.E.W. Advisory Services LLC purchased a new position in Warner Bros. Discovery in the first quarter worth $36,000. Finally, Zions Bancorporation National Association UT bought a new position in shares of Warner Bros. Discovery during the 1st quarter valued at about $42,000. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Insider Transactions at Warner Bros. Discovery

In related 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 completion of 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Gunnar Wiedenfels sold 530,793 shares of the company’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $19.50, for a total value of $10,350,463.50. Following the completion of the sale, the chief financial officer owned 1,141,150 shares of the company’s stock, valued at $22,252,425. This represents a 31.75% decrease in their ownership of the stock. 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. 1.90% of the stock is owned by corporate insiders.

Warner Bros. Discovery Trading Down 0.9%

Warner Bros. Discovery stock opened at $22.88 on Friday. The firm has a market capitalization of $56.70 billion, a price-to-earnings ratio of 76.27, 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 $24.19. The firm has a 50 day moving average of $20.31 and a 200 day moving average of $14.32. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.92.

Warner Bros. Discovery (NASDAQ:WBD) last released 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). Warner Bros. Discovery had a return on equity of 2.14% and a net margin of 2.00%.The business had revenue of $9.05 billion for the quarter, compared to analysts’ expectations of $9.17 billion. During the same quarter in the prior year, the business posted $0.05 EPS. The business’s revenue for the quarter was down 6.0% compared to the same quarter last year. As a group, research analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on WBD shares. Arete Research raised Warner Bros. Discovery to a “strong-buy” rating in a research note on Tuesday, October 28th. Cowen downgraded Warner Bros. Discovery from a “buy” rating to a “hold” rating in a research report on Tuesday, September 16th. Morgan Stanley boosted their price target on Warner Bros. Discovery from $13.00 to $15.00 and gave the company an “equal weight” rating in a report on Thursday, September 25th. Guggenheim upped their price objective on shares of Warner Bros. Discovery from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Finally, TD Cowen lifted their price objective on Warner Bros. Discovery from $14.00 to $22.00 in a research report on Friday, November 7th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Warner Bros. Discovery currently has an average rating of “Moderate Buy” and an average target price of $21.92.

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.