Warner Bros. Discovery, Inc. $WBD Stock Position Lifted by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 6.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,601,500 shares of the company’s stock after acquiring an additional 286,678 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.19% of Warner Bros. Discovery worth $52,733,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in WBD. Summit Investment Advisors Inc. boosted its holdings in Warner Bros. Discovery by 0.8% in the first quarter. Summit Investment Advisors Inc. now owns 101,522 shares of the company’s stock worth $1,089,000 after purchasing an additional 795 shares during the period. Premier Path Wealth Partners LLC boosted its holdings in shares of Warner Bros. Discovery by 0.6% in the 2nd quarter. Premier Path Wealth Partners LLC now owns 134,943 shares of the company’s stock valued at $1,546,000 after buying an additional 857 shares during the period. Eastern Bank grew its position in shares of Warner Bros. Discovery by 11.6% during the 2nd quarter. Eastern Bank now owns 8,452 shares of the company’s stock valued at $97,000 after buying an additional 879 shares during the last quarter. Holistic Financial Partners raised its stake in Warner Bros. Discovery by 5.2% during the second quarter. Holistic Financial Partners now owns 18,209 shares of the company’s stock worth $209,000 after acquiring an additional 898 shares during the period. Finally, Parkside Financial Bank & Trust raised its stake in Warner Bros. Discovery by 12.4% during the second quarter. Parkside Financial Bank & Trust now owns 8,164 shares of the company’s stock worth $94,000 after acquiring an additional 899 shares during the period. 59.95% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Warner Bros. Discovery

In related news, insider Bruce Campbell sold 289,322 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $16.48, for a total transaction of $4,768,026.56. Following the transaction, the insider owned 402,464 shares in the company, valued at $6,632,606.72. This trade represents a 41.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Gunnar Wiedenfels sold 530,793 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer directly owned 1,141,150 shares in the company, valued at approximately $22,252,425. The trade was a 31.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,192,325 shares of company stock valued at $22,818,215 over the last quarter. Insiders own 1.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on WBD. Barclays set a $20.00 target price on Warner Bros. Discovery in a research note on Wednesday, October 8th. Singular Research upgraded Warner Bros. Discovery to a “moderate buy” rating in a research report on Wednesday, October 22nd. Benchmark increased their target price on Warner Bros. Discovery from $18.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Barrington Research raised their target price on Warner Bros. Discovery from $16.00 to $25.00 and gave the company an “outperform” rating in a research note on Tuesday, October 28th. Finally, Morgan Stanley upped their price target on shares of Warner Bros. Discovery from $13.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 25th. Three investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Warner Bros. Discovery presently has an average rating of “Moderate Buy” and a consensus target price of $21.70.

Warner Bros. Discovery Trading Up 1.4%

NASDAQ:WBD opened at $22.98 on Tuesday. The stock has a market cap of $56.89 billion, a price-to-earnings ratio of 76.60, a PEG ratio of 2.56 and a beta of 1.74. 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 $23.06. The business has a fifty day moving average of $18.67 and a 200-day moving average of $13.60.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.02). The company had revenue of $9.05 billion during 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%.The business’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.05 EPS. Equities 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.