Warner Bros. Discovery, Inc. $WBD Shares Sold by SBI Securities Co. Ltd.

SBI Securities Co. Ltd. trimmed its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 8.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 74,082 shares of the company’s stock after selling 7,014 shares during the period. SBI Securities Co. Ltd.’s holdings in Warner Bros. Discovery were worth $849,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. National Pension Service raised its stake in shares of Warner Bros. Discovery by 0.7% in the second quarter. National Pension Service now owns 3,614,243 shares of the company’s stock valued at $41,419,000 after acquiring an additional 25,559 shares in the last quarter. IMA Advisory Services Inc. increased its stake in shares of Warner Bros. Discovery by 4.7% during the second quarter. IMA Advisory Services Inc. now owns 99,298 shares of the company’s stock worth $1,138,000 after acquiring an additional 4,497 shares during the period. Vise Technologies Inc. acquired a new stake in Warner Bros. Discovery in the second quarter valued at $344,000. Allworth Financial LP boosted its position in Warner Bros. Discovery by 6.6% during the second quarter. Allworth Financial LP now owns 171,226 shares of the company’s stock worth $1,962,000 after purchasing an additional 10,634 shares in the last quarter. Finally, ProShare Advisors LLC raised its position in shares of Warner Bros. Discovery by 5.7% during the 2nd quarter. ProShare Advisors LLC now owns 3,766,608 shares of the company’s stock worth $43,165,000 after purchasing an additional 203,829 shares during the last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Insider Activity

In related news, insider Bruce Campbell sold 289,322 shares of the stock in a transaction 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 completion of the transaction, the insider owned 402,464 shares in the company, valued at approximately $6,632,606.72. This represents a 41.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 transaction, the chief financial officer directly owned 1,141,150 shares in the company, valued at $22,252,425. This trade represents a 31.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,192,325 shares of company stock worth $22,818,215 in the last quarter. 1.90% of the stock is currently owned by company insiders.

Warner Bros. Discovery Stock Performance

Warner Bros. Discovery stock opened at $22.14 on Friday. Warner Bros. Discovery, Inc. has a 12-month low of $7.52 and a 12-month high of $23.19. The stock has a 50-day simple moving average of $19.31 and a 200 day simple moving average of $13.82. The stock has a market capitalization of $54.81 billion, a price-to-earnings ratio of 73.80, a P/E/G ratio of 2.56 and a beta of 1.73. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.92.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). The firm 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%.Warner Bros. Discovery’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.05 earnings per share. On average, research analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on WBD shares. Argus set a $27.00 price objective on shares of Warner Bros. Discovery in a report on Tuesday, October 28th. Bank of America upped their target price on shares of Warner Bros. Discovery from $16.00 to $24.00 and gave the stock a “buy” rating in a research report on Tuesday, September 30th. UBS Group boosted their price target on shares of Warner Bros. Discovery from $10.00 to $20.00 and gave the stock a “neutral” rating in a research report on Monday, October 6th. Benchmark upped their price target on shares of Warner Bros. Discovery from $18.00 to $25.00 and gave the company a “buy” rating in a research report on Wednesday, October 22nd. Finally, Sanford C. Bernstein increased their price objective on Warner Bros. Discovery from $16.00 to $23.50 in a report on Friday, November 7th. Three analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $21.92.

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.