Resona Asset Management Co. Ltd. Has $20.19 Million Stock Holdings in Warner Bros. Discovery, Inc. $WBD

Resona Asset Management Co. Ltd. decreased its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 4.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 700,546 shares of the company’s stock after selling 33,574 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Warner Bros. Discovery were worth $20,186,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in WBD. Brighton Jones LLC boosted its position in shares of Warner Bros. Discovery by 304.9% during the 4th quarter. Brighton Jones LLC now owns 68,950 shares of the company’s stock worth $729,000 after acquiring an additional 51,920 shares in the last quarter. NewEdge Advisors LLC boosted its position in shares of Warner Bros. Discovery by 50.5% during the 1st quarter. NewEdge Advisors LLC now owns 63,254 shares of the company’s stock worth $679,000 after acquiring an additional 21,228 shares in the last quarter. Empowered Funds LLC boosted its position in shares of Warner Bros. Discovery by 6.2% during the 1st quarter. Empowered Funds LLC now owns 65,082 shares of the company’s stock worth $698,000 after acquiring an additional 3,779 shares in the last quarter. Focus Partners Wealth boosted its position in shares of Warner Bros. Discovery by 91.6% during the 1st quarter. Focus Partners Wealth now owns 116,821 shares of the company’s stock worth $1,254,000 after acquiring an additional 55,837 shares in the last quarter. Finally, Baird Financial Group Inc. boosted its position in shares of Warner Bros. Discovery by 3.8% during the 2nd quarter. Baird Financial Group Inc. now owns 111,450 shares of the company’s stock worth $1,277,000 after acquiring an additional 4,062 shares in the last quarter. Institutional investors and hedge funds own 59.95% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on WBD. Benchmark reiterated a “hold” rating on shares of Warner Bros. Discovery in a research report on Friday, February 27th. Sanford C. Bernstein increased their price objective on shares of Warner Bros. Discovery from $23.50 to $27.75 and gave the company a “market perform” rating in a research note on Tuesday, February 24th. Huber Research downgraded shares of Warner Bros. Discovery from a “strong-buy” rating to a “strong sell” rating in a research note on Friday, February 27th. Zacks Research downgraded shares of Warner Bros. Discovery from a “hold” rating to a “strong sell” rating in a research note on Friday, May 1st. Finally, Weiss Ratings downgraded shares of Warner Bros. Discovery from a “hold (c-)” rating to a “sell (d-)” rating in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, thirteen have given a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $26.36.

Insider Activity

In other news, CFO Gunnar Wiedenfels sold 617,580 shares of the firm’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $28.25, for a total transaction of $17,446,635.00. Following the completion of the transaction, the chief financial officer owned 691,570 shares of the company’s stock, valued at approximately $19,536,852.50. This trade represents a 47.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gerhard Zeiler sold 600,000 shares of the firm’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $28.02, for a total transaction of $16,812,000.00. Following the transaction, the insider directly owned 672,649 shares of the company’s stock, valued at $18,847,624.98. The trade was a 47.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 8,206,827 shares of company stock valued at $230,674,025. 1.80% of the stock is currently owned by company insiders.

Warner Bros. Discovery Price Performance

Shares of NASDAQ:WBD opened at $27.09 on Wednesday. The company has a market cap of $67.92 billion, a price-to-earnings ratio of -38.70 and a beta of 1.57. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.73 and a quick ratio of 0.73. The firm has a 50 day simple moving average of $27.30 and a 200 day simple moving average of $27.02. Warner Bros. Discovery, Inc. has a one year low of $8.83 and a one year high of $30.00.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($1.17) EPS for the quarter, missing the consensus estimate of ($0.10) by ($1.07). The company had revenue of $8.89 billion during the quarter, compared to the consensus estimate of $8.89 billion. Warner Bros. Discovery had a negative net margin of 4.67% and a negative return on equity of 4.77%. Warner Bros. Discovery’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same period in the previous year, the company earned ($0.18) EPS. Research analysts predict that Warner Bros. Discovery, Inc. will post -0.71 earnings per share for the current fiscal year.

About Warner Bros. Discovery

Warner Bros. Discovery (NASDAQ: WBD) is a global media and entertainment company formed when WarnerMedia and Discovery, Inc combined their businesses in 2022. Headquartered in New York City, the company assembles a broad portfolio of film and television production, linear and cable networks, streaming services and consumer distribution operations. Its assets span well-known studio brands, premium scripted and unscripted programming, news and factual entertainment, and licensed franchise properties.

The company’s core activities include film and television production and distribution through units such as Warner Bros.