Handelsbanken Fonder AB Reduces Position in Warner Bros. Discovery, Inc. $WBD

Handelsbanken Fonder AB trimmed its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 24.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 416,408 shares of the company’s stock after selling 134,778 shares during the period. Handelsbanken Fonder AB’s holdings in Warner Bros. Discovery were worth $4,772,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. WPG Advisers LLC acquired a new position in shares of Warner Bros. Discovery in the first quarter valued at about $26,000. Financial Gravity Companies Inc. acquired a new stake in shares of Warner Bros. Discovery during the second quarter worth about $29,000. Trifecta Capital Advisors LLC purchased a new stake in Warner Bros. Discovery in the second quarter valued at approximately $34,000. N.E.W. Advisory Services LLC acquired a new position in Warner Bros. Discovery in the 1st quarter worth approximately $36,000. Finally, Zions Bancorporation National Association UT purchased a new position in Warner Bros. Discovery during the 1st quarter worth approximately $42,000. Institutional investors and hedge funds own 59.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on WBD. Redburn Partners set a $28.00 price objective on shares of Warner Bros. Discovery in a report on Thursday, October 30th. Arete upped their price target on shares of Warner Bros. Discovery from $24.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, October 28th. Arete Research raised Warner Bros. Discovery to a “strong-buy” rating in a research report on Tuesday, October 28th. Rothschild Redb upgraded Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 30th. Finally, Bank of America boosted their price objective on Warner Bros. Discovery from $16.00 to $24.00 and gave the company a “buy” rating in a report on Tuesday, September 30th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $21.92.

Warner Bros. Discovery Trading Down 1.3%

Shares of Warner Bros. Discovery stock opened at $22.86 on Tuesday. The firm has a 50-day simple moving average of $20.46 and a two-hundred day simple moving average of $14.61. 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 fifty-two week low of $7.52 and a fifty-two week high of $24.19. The company has a market cap of $56.65 billion, a P/E ratio of 76.20, a price-to-earnings-growth ratio of 2.56 and a beta of 1.74.

Warner Bros. Discovery (NASDAQ:WBD) last posted its earnings results on Thursday, November 6th. The company reported ($0.06) 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 business had revenue of $9.05 billion for the quarter, compared to analyst estimates of $9.17 billion. During the same quarter last year, the business earned $0.05 earnings per share. Warner Bros. Discovery’s revenue was down 6.0% on a year-over-year basis. As a group, equities analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Insider Activity at Warner Bros. Discovery

In related news, CFO Gunnar Wiedenfels sold 222,210 shares of Warner Bros. Discovery stock in a transaction 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 sale, the chief financial officer owned 918,940 shares of the company’s stock, valued at approximately $20,676,150. This trade represents a 19.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Bruce Campbell sold 150,000 shares of the company’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $18.00, for a total transaction of $2,700,000.00. Following the transaction, the insider owned 252,464 shares of the company’s stock, valued at $4,544,352. This represents a 37.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 1,192,325 shares of company stock worth $22,818,215. 1.90% of the stock is owned by corporate insiders.

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.