Livforsakringsbolaget Skandia Omsesidigt Purchases New Position in Warner Bros. Discovery, Inc. $WBD

Livforsakringsbolaget Skandia Omsesidigt acquired a new position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 17,851 shares of the company’s stock, valued at approximately $475,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in WBD. Harbor Investment Advisory LLC increased its stake in shares of Warner Bros. Discovery by 111.2% during the 2nd quarter. Harbor Investment Advisory LLC now owns 942 shares of the company’s stock worth $25,000 after purchasing an additional 496 shares during the last quarter. Swiss RE Ltd. acquired a new stake in shares of Warner Bros. Discovery in the 4th quarter valued at $26,000. Elevation Wealth Partners LLC lifted its stake in shares of Warner Bros. Discovery by 64.3% in the 2nd quarter. Elevation Wealth Partners LLC now owns 1,009 shares of the company’s stock valued at $27,000 after purchasing an additional 395 shares during the last quarter. Fideuram Asset Management Ireland dac bought a new stake in Warner Bros. Discovery in the fourth quarter worth $29,000. Finally, MV Capital Management Inc. bought a new stake in Warner Bros. Discovery in the fourth quarter worth $30,000. Institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Performance

WBD opened at $28.77 on Friday. The firm has a market capitalization of $72.23 billion, a P/E ratio of -22.65 and a beta of 1.55. The stock’s 50 day moving average price is $26.95 and its two-hundred day moving average price is $27.24. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.90. Warner Bros. Discovery, Inc. has a 12-month low of $11.25 and a 12-month high of $30.00.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of ($0.14) by $0.20. Warner Bros. Discovery had a negative return on equity of 8.91% and a negative net margin of 8.77%.The company had revenue of $8.72 billion for the quarter, compared to the consensus estimate of $9.25 billion. During the same period in the previous year, the business posted $0.63 EPS. The company’s revenue for the quarter was down 11.2% on a year-over-year basis. On average, equities analysts forecast that Warner Bros. Discovery, Inc. will post -1.11 earnings per share for the current year.

Insider Activity at Warner Bros. Discovery

In related news, CEO David Zaslav sold 773,173 shares of the business’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $28.01, for a total transaction of $21,656,575.73. Following the transaction, the chief executive officer owned 6,807,934 shares of the company’s stock, valued at approximately $190,690,231.34. The trade was a 10.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kenneth W. Lowe sold 120,000 shares of the company’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $26.97, for a total transaction of $3,236,400.00. Following the transaction, the director owned 990,108 shares of the company’s stock, valued at approximately $26,703,212.76. The trade was a 10.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 1,750,749 shares of company stock worth $48,329,633. 0.70% of the stock is owned by insiders.

Analysts Set New Price Targets

WBD has been the topic of several recent research reports. Zacks Research upgraded Warner Bros. Discovery from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 25th. Seaport Research Partners downgraded Warner Bros. Discovery from a “buy” rating to a “neutral” rating in a research note on Monday, July 27th. Freedom Capital raised Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a report on Monday, August 10th. Guggenheim reissued a “neutral” rating on shares of Warner Bros. Discovery in a research note on Thursday, May 7th. Finally, Weiss Ratings raised Warner Bros. Discovery from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Tuesday, August 18th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $27.69.

Warner Bros. Discovery Company Profile

Warner Bros. Discovery (NASDAQ: WBD) is a global media and entertainment company formed when WarnerMedia and Discovery, Inc combined their businesses in 2022. Headquartered in New York City, the company assembles a broad portfolio of film and television production, linear and cable networks, streaming services and consumer distribution operations. Its assets span well-known studio brands, premium scripted and unscripted programming, news and factual entertainment, and licensed franchise properties.

The company’s core activities include film and television production and distribution through units such as Warner Bros.