Summit Place Financial Advisors LLC Purchases 5,200 Shares of Warner Bros. Discovery, Inc. $WBD

Summit Place Financial Advisors LLC boosted its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 5.0% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 109,288 shares of the company’s stock after acquiring an additional 5,200 shares during the period. Summit Place Financial Advisors LLC’s holdings in Warner Bros. Discovery were worth $1,252,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Independent Franchise Partners LLP bought a new stake in shares of Warner Bros. Discovery during the first quarter valued at about $140,224,000. Nuveen LLC bought a new stake in shares of Warner Bros. Discovery during the first quarter valued at about $96,971,000. KBC Group NV increased its position in shares of Warner Bros. Discovery by 682.8% during the first quarter. KBC Group NV now owns 7,145,308 shares of the company’s stock valued at $76,669,000 after buying an additional 6,232,561 shares during the period. Apollo Management Holdings L.P. bought a new stake in shares of Warner Bros. Discovery during the first quarter valued at about $65,031,000. Finally, Dimensional Fund Advisors LP increased its position in shares of Warner Bros. Discovery by 63.7% during the first quarter. Dimensional Fund Advisors LP now owns 12,839,389 shares of the company’s stock valued at $137,700,000 after buying an additional 4,994,894 shares during the period. 59.95% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on WBD shares. Benchmark reiterated a “buy” rating and set a $18.00 price target on shares of Warner Bros. Discovery in a research report on Monday, July 14th. Raymond James Financial upped their price target on Warner Bros. Discovery from $13.00 to $22.00 and gave the company an “outperform” rating in a research report on Thursday, October 2nd. Barrington Research reiterated an “outperform” rating and set a $16.00 price target on shares of Warner Bros. Discovery in a research report on Wednesday, July 30th. Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a research report on Friday, September 12th. Finally, UBS Group upped their price target on Warner Bros. Discovery from $10.00 to $20.00 and gave the company a “neutral” rating in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and sixteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $16.61.

Warner Bros. Discovery Stock Down 3.2%

Shares of NASDAQ WBD opened at $17.10 on Friday. Warner Bros. Discovery, Inc. has a 12 month low of $7.25 and a 12 month high of $20.24. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $42.34 billion, a price-to-earnings ratio of 57.00, a PEG ratio of 2.07 and a beta of 1.73. The business has a 50-day moving average of $14.93 and a 200-day moving average of $11.78.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.63 EPS for the quarter, topping the consensus estimate of ($0.16) by $0.79. The company had revenue of $9.81 billion during the quarter, compared to analyst estimates of $9.73 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 up 1.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($4.07) earnings per share. Sell-side analysts expect that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Warner Bros. Discovery news, insider Bruce Campbell sold 150,000 shares of the company’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $18.00, for a total value of $2,700,000.00. Following the completion of the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Anton J. Levy bought 75,000 shares of the business’s stock in a transaction on Tuesday, August 12th. The stock was purchased at an average cost of $11.00 per share, with a total value of $825,000.00. Following the purchase, the director owned 949,000 shares of the company’s stock, valued at $10,439,000. This represents a 8.58% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 970,115 shares of company stock valued at $17,818,490 over the last quarter. 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.