Ethic Inc. Increases Stake in Warner Bros. Discovery, Inc. $WBD

Ethic Inc. grew its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 4.1% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 254,847 shares of the company’s stock after buying an additional 9,974 shares during the quarter. Ethic Inc.’s holdings in Warner Bros. Discovery were worth $2,880,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of WBD. FNY Investment Advisers LLC grew its stake in shares of Warner Bros. Discovery by 1,730.2% during the 2nd quarter. FNY Investment Advisers LLC now owns 5,454 shares of the company’s stock worth $62,000 after purchasing an additional 5,156 shares during the period. Phoenix Financial Ltd. grew its stake in shares of Warner Bros. Discovery by 151.2% during the 2nd quarter. Phoenix Financial Ltd. now owns 38,370 shares of the company’s stock worth $440,000 after purchasing an additional 23,096 shares during the period. West Tower Group LLC grew its stake in shares of Warner Bros. Discovery by 7.6% during the 2nd quarter. West Tower Group LLC now owns 275,170 shares of the company’s stock worth $3,153,000 after purchasing an additional 19,425 shares during the period. Cidel Asset Management Inc. grew its stake in shares of Warner Bros. Discovery by 28.5% during the 2nd quarter. Cidel Asset Management Inc. now owns 37,010 shares of the company’s stock worth $424,000 after purchasing an additional 8,218 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Warner Bros. Discovery during the 2nd quarter worth $7,340,000. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Analyst Ratings Changes

WBD has been the topic of a number of recent analyst reports. Sanford C. Bernstein upped their price target on shares of Warner Bros. Discovery from $13.00 to $16.00 and gave the stock a “market perform” rating in a research note on Monday, September 22nd. Barclays set a $20.00 price target on shares of Warner Bros. Discovery in a research note on Wednesday, October 8th. KeyCorp reiterated a “sector weight” rating on shares of Warner Bros. Discovery in a research report on Friday, September 26th. Raymond James Financial boosted their price objective on shares of Warner Bros. Discovery from $13.00 to $22.00 and gave the stock an “outperform” rating in a research report on Thursday, October 2nd. Finally, Moffett Nathanson boosted their price objective on shares of Warner Bros. Discovery from $14.00 to $23.00 and gave the stock a “buy” rating in a research report on Monday, September 22nd. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and sixteen have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $17.68.

Insider Buying and Selling at Warner Bros. Discovery

In related news, Director Anton J. Levy acquired 250,000 shares of the business’s stock in a transaction dated Monday, August 11th. The shares were acquired at an average cost of $10.90 per share, for a total transaction of $2,725,000.00. Following the acquisition, the director directly owned 874,000 shares in the company, valued at approximately $9,526,600. The trade was a 40.06% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Bruce Campbell sold 289,322 shares of the stock in a transaction dated Thursday, September 11th. The stock was 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 approximately $6,632,606.72. The trade was a 41.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 970,115 shares of company stock worth $17,818,490. Corporate insiders own 1.90% of the company’s stock.

Warner Bros. Discovery Price Performance

NASDAQ:WBD opened at $21.15 on Friday. The firm has a market cap of $52.36 billion, a price-to-earnings ratio of 70.50, a price-to-earnings-growth ratio of 2.58 and a beta of 1.73. 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 company’s 50-day moving average is $16.40 and its two-hundred day moving average is $12.44. Warner Bros. Discovery, Inc. has a 12-month low of $7.49 and a 12-month high of $21.57.

Warner Bros. Discovery (NASDAQ:WBD) last released its earnings results on Thursday, August 7th. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.79. The company had revenue of $9.81 billion for the quarter, compared to analyst estimates of $9.73 billion. Warner Bros. Discovery had a net margin of 2.00% and a return on equity of 2.14%. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($4.07) EPS. Research analysts expect that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Warner Bros. Discovery Company 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.