Warner Bros. Discovery, Inc. $WBD Shares Sold by KBC Group NV

KBC Group NV lowered its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 78.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,519,147 shares of the company’s stock after selling 5,626,161 shares during the quarter. KBC Group NV’s holdings in Warner Bros. Discovery were worth $17,410,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in WBD. WPG Advisers LLC purchased a new stake in Warner Bros. Discovery in the 1st quarter valued at approximately $26,000. Trifecta Capital Advisors LLC purchased a new position in Warner Bros. Discovery during the second quarter worth $34,000. N.E.W. Advisory Services LLC acquired a new position in shares of Warner Bros. Discovery in the first quarter worth $36,000. Zions Bancorporation National Association UT purchased a new stake in shares of Warner Bros. Discovery in the first quarter valued at $42,000. Finally, ST Germain D J Co. Inc. boosted its stake in shares of Warner Bros. Discovery by 4,720.5% during the second quarter. ST Germain D J Co. Inc. now owns 4,001 shares of the company’s stock valued at $46,000 after acquiring an additional 3,918 shares during 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 $22.14 on Friday. Warner Bros. Discovery, Inc. has a 12 month low of $7.52 and a 12 month high of $23.19. The firm has a market capitalization of $54.81 billion, a PE ratio of 73.80, a P/E/G ratio of 2.56 and a beta of 1.73. The company’s 50 day simple moving average is $19.31 and its 200 day simple moving average is $13.82. 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 posted 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 the consensus estimate of $9.17 billion. Warner Bros. Discovery had a return on equity of 2.14% and a net margin of 2.00%.The firm’s quarterly revenue was down 6.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.05 EPS. As a group, equities research analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Insider Activity at Warner Bros. Discovery

In other news, CFO Gunnar Wiedenfels sold 530,793 shares of the company’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $19.50, for a total transaction of $10,350,463.50. Following the completion of the sale, the chief financial officer directly owned 1,141,150 shares of the company’s stock, valued at $22,252,425. This represents a 31.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Bruce Campbell sold 289,322 shares of Warner Bros. Discovery stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $16.48, for a total value of $4,768,026.56. Following the completion of the transaction, the insider directly owned 402,464 shares in the company, valued at $6,632,606.72. This represents a 41.82% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 1,192,325 shares of company stock worth $22,818,215. 1.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

WBD has been the subject of several recent analyst reports. Barrington Research lifted their target price on shares of Warner Bros. Discovery from $16.00 to $25.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 28th. Wells Fargo & Company upped their target price on Warner Bros. Discovery from $21.00 to $25.00 and gave the company an “equal weight” rating in a research note on Friday, November 7th. Weiss Ratings downgraded Warner Bros. Discovery from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, November 7th. Rothschild & Co Redburn upgraded Warner Bros. Discovery from a “neutral” rating to a “buy” rating and set a $28.00 price target for the company in a report on Thursday, October 30th. Finally, Arete Research raised shares of Warner Bros. Discovery to a “strong-buy” rating in a research note on Tuesday, October 28th. Three analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Warner Bros. Discovery currently 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.