Warner Bros. Discovery, Inc. $WBD Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC lifted its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 0.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 60,091,463 shares of the company’s stock after acquiring an additional 551,548 shares during the period. Geode Capital Management LLC owned about 2.45% of Warner Bros. Discovery worth $685,798,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Morgan Stanley raised their price target on Warner Bros. Discovery from $13.00 to $15.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 25th. Barclays set a $20.00 price target on Warner Bros. Discovery in a research report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Warner Bros. Discovery from $23.00 to $26.00 and gave the company a “buy” rating in a research note on Thursday. Seaport Global Securities raised their price objective on Warner Bros. Discovery from $15.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, October 3rd. Finally, Sanford C. Bernstein lifted their target price on shares of Warner Bros. Discovery from $16.00 to $23.50 in a research report on Friday, November 7th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $21.92.

Warner Bros. Discovery Price Performance

WBD opened at $23.03 on Friday. The company’s 50 day simple moving average is $19.53 and its 200-day simple moving average is $13.92. The stock has a market capitalization of $57.02 billion, a P/E ratio of 76.77, a price-to-earnings-growth ratio of 2.56 and a beta of 1.74. Warner Bros. Discovery, Inc. has a one year low of $7.52 and a one year high of $23.19. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.04 and a quick ratio of 1.04.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.02). The firm had revenue of $9.05 billion for the quarter, compared to analyst estimates of $9.17 billion. Warner Bros. Discovery had a net margin of 2.00% and a return on equity of 2.14%. The company’s revenue was down 6.0% compared to the same quarter last year. During the same period last year, the company earned $0.05 EPS. Sell-side analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Bruce Campbell sold 289,322 shares of Warner Bros. Discovery 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 completion of the sale, the insider owned 402,464 shares in the company, valued at $6,632,606.72. The trade was a 41.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Gunnar Wiedenfels sold 530,793 shares of the stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $19.50, for a total transaction of $10,350,463.50. Following the completion of the transaction, the chief financial officer owned 1,141,150 shares in the company, valued at $22,252,425. This represents a 31.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,192,325 shares of company stock worth $22,818,215 in the last ninety days. Insiders own 1.90% of the company’s stock.

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.