Warner Bros. Discovery, Inc. $WBD Shares Acquired by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 6.6% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 4,601,500 shares of the company’s stock after buying an additional 286,678 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Warner Bros. Discovery were worth $52,733,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of WBD. Parkside Financial Bank & Trust grew its holdings in shares of Warner Bros. Discovery by 12.4% in the 2nd quarter. Parkside Financial Bank & Trust now owns 8,164 shares of the company’s stock worth $94,000 after acquiring an additional 899 shares during the last quarter. Aviva PLC boosted its position in shares of Warner Bros. Discovery by 6.7% in the 2nd quarter. Aviva PLC now owns 1,754,054 shares of the company’s stock valued at $20,101,000 after purchasing an additional 109,679 shares during the period. Prospera Financial Services Inc increased its stake in Warner Bros. Discovery by 3.3% in the 2nd quarter. Prospera Financial Services Inc now owns 35,577 shares of the company’s stock worth $408,000 after purchasing an additional 1,136 shares in the last quarter. Summit Investment Advisors Inc. raised its holdings in Warner Bros. Discovery by 0.8% during the 1st quarter. Summit Investment Advisors Inc. now owns 101,522 shares of the company’s stock worth $1,089,000 after buying an additional 795 shares during the period. Finally, AE Wealth Management LLC lifted its stake in Warner Bros. Discovery by 7.5% during the second quarter. AE Wealth Management LLC now owns 29,745 shares of the company’s stock valued at $341,000 after buying an additional 2,086 shares in the last quarter. Institutional investors and hedge funds own 59.95% of the company’s stock.

Warner Bros. Discovery Price Performance

NASDAQ WBD opened at $22.98 on Tuesday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $56.89 billion, a PE ratio of 76.60, a price-to-earnings-growth ratio of 2.56 and a beta of 1.74. Warner Bros. Discovery, Inc. has a 12-month low of $7.52 and a 12-month high of $23.06. The company has a 50 day moving average price of $18.67 and a two-hundred day moving average price of $13.60.

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

Insider Transactions at Warner Bros. Discovery

In other news, CFO Gunnar Wiedenfels sold 222,210 shares of the company’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $22.50, for a total transaction of $4,999,725.00. Following the completion of the sale, the chief financial officer owned 918,940 shares in the company, valued at approximately $20,676,150. This represents a 19.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Bruce Campbell sold 150,000 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $18.00, for a total value of $2,700,000.00. Following the completion of the transaction, the insider directly owned 252,464 shares in the company, valued at $4,544,352. The trade was a 37.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 1,192,325 shares of company stock valued at $22,818,215 in the last ninety days. Insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on WBD shares. Morgan Stanley boosted their price target on shares of Warner Bros. Discovery from $13.00 to $15.00 and gave the company an “equal weight” rating in a report on Thursday, September 25th. Guggenheim boosted their target price on shares of Warner Bros. Discovery from $22.00 to $25.00 and gave the company a “buy” rating in a research note on Friday. Redburn Partners set a $28.00 target price on Warner Bros. Discovery in a research report on Thursday, October 30th. Sanford C. Bernstein upped their price target on Warner Bros. Discovery from $16.00 to $23.50 in a research report on Friday. Finally, Rothschild Redb upgraded Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 30th. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $21.70.

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.