Chevy Chase Trust Holdings LLC Acquires 18,706 Shares of Warner Bros. Discovery, Inc. $WBD

Chevy Chase Trust Holdings LLC raised its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 1.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,195,417 shares of the company’s stock after buying an additional 18,706 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Warner Bros. Discovery were worth $13,699,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. WPG Advisers LLC bought a new stake in shares of Warner Bros. Discovery in the 1st quarter worth approximately $26,000. Financial Gravity Asset Management Inc. bought a new stake in shares of Warner Bros. Discovery in the 1st quarter worth approximately $27,000. North Capital Inc. bought a new stake in shares of Warner Bros. Discovery in the 1st quarter worth approximately $28,000. Smallwood Wealth Investment Management LLC bought a new stake in shares of Warner Bros. Discovery in the 1st quarter worth approximately $29,000. Finally, Golden State Wealth Management LLC lifted its stake in shares of Warner Bros. Discovery by 448.0% in the 1st quarter. Golden State Wealth Management LLC now owns 2,877 shares of the company’s stock valued at $31,000 after purchasing an additional 2,352 shares during the period. 59.95% of the stock is currently owned by institutional investors.

Warner Bros. Discovery Stock Down 0.5%

Shares of NASDAQ:WBD opened at $18.19 on Monday. The stock has a fifty day simple moving average of $15.52 and a two-hundred day simple moving average of $12.07. The stock has a market capitalization of $45.03 billion, a price-to-earnings ratio of 60.64, a PEG ratio of 2.22 and a beta of 1.73. 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.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings data 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. Warner Bros. Discovery had a return on equity of 2.14% and a net margin of 2.00%.The business had revenue of $9.81 billion during the quarter, compared to analysts’ expectations of $9.73 billion. During the same quarter in the previous year, the business earned ($4.07) earnings per share. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. 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

A number of research firms have recently commented on WBD. Raymond James Financial raised their target price on Warner Bros. Discovery from $13.00 to $22.00 and gave the company an “outperform” rating in a research note on Thursday, October 2nd. TD Cowen restated a “hold” rating and issued a $14.00 target price on shares of Warner Bros. Discovery in a research note on Tuesday, September 16th. Seaport Global Securities raised their target price on Warner Bros. Discovery from $15.00 to $24.00 and gave the company a “buy” rating in a research note on Friday, October 3rd. Benchmark restated a “buy” rating and issued a $18.00 target price on shares of Warner Bros. Discovery in a research note on Monday, July 14th. Finally, Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a research note on Friday, September 12th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and sixteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $17.00.

Insider Transactions at Warner Bros. Discovery

In related news, Director Anton J. Levy purchased 250,000 shares of the company’s stock in a transaction dated Monday, August 11th. The shares were purchased at an average price of $10.90 per share, with a total value of $2,725,000.00. Following the acquisition, the director directly owned 874,000 shares in the company, valued at $9,526,600. The trade was a 40.06% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Gunnar Wiedenfels sold 530,793 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer directly owned 1,141,150 shares in the company, valued at approximately $22,252,425. The trade was a 31.75% decrease in their position. The disclosure for this sale can be found here. Insiders sold 970,115 shares of company stock worth $17,818,490 over the last quarter. 1.80% of the stock is currently owned by insiders.

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.