Laurel Wealth Advisors LLC Boosts Stake in Warner Bros. Discovery, Inc. $WBD

Laurel Wealth Advisors LLC grew its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 1,046.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,066 shares of the company’s stock after purchasing an additional 4,624 shares during the period. Laurel Wealth Advisors LLC’s holdings in Warner Bros. Discovery were worth $58,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Independent Franchise Partners LLP purchased a new stake in Warner Bros. Discovery in the 1st quarter valued at about $140,224,000. Nuveen LLC purchased a new position in Warner Bros. Discovery during the first quarter worth about $96,971,000. Sound Shore Management Inc CT acquired a new stake in shares of Warner Bros. Discovery during the second quarter valued at about $97,951,000. Apollo Management Holdings L.P. purchased a new stake in shares of Warner Bros. Discovery in the 1st quarter valued at approximately $65,031,000. Finally, Vanguard Group Inc. raised its stake in shares of Warner Bros. Discovery by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 262,477,555 shares of the company’s stock valued at $3,007,993,000 after acquiring an additional 5,657,524 shares during the period. 59.95% of the stock is owned by institutional investors and hedge funds.

Warner Bros. Discovery Trading Up 0.5%

WBD opened at $23.99 on Friday. The business has a fifty day moving average price of $20.87 and a 200 day moving average price of $14.98. 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, Inc. has a 12 month low of $7.52 and a 12 month high of $24.20. The stock has a market capitalization of $59.45 billion, a price-to-earnings ratio of 79.97, a PEG ratio of 2.56 and a beta of 1.74.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). The company had revenue of $9.05 billion during 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%. Warner Bros. Discovery’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.05 EPS. Sell-side analysts expect that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

WBD has been the subject of a number of research analyst reports. Raymond James Financial increased their price objective on shares of Warner Bros. Discovery from $22.00 to $25.00 and gave the stock an “outperform” rating in a research report on Friday, November 7th. Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a research report on Friday, September 12th. Argus set a $27.00 price objective on Warner Bros. Discovery in a research note on Tuesday, October 28th. Weiss Ratings reissued a “sell (d+)” rating on shares of Warner Bros. Discovery in a research note on Tuesday. Finally, The Goldman Sachs Group raised their target price on Warner Bros. Discovery from $13.00 to $14.75 and gave the company a “buy” rating in a report on Friday, November 7th. Three investment 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 given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $21.92.

Insider Activity at Warner Bros. Discovery

In other Warner Bros. Discovery news, CAO Lori C. Locke sold 5,000 shares of the stock in a transaction that occurred on Friday, November 28th. The shares were sold at an average price of $23.83, for a total value of $119,150.00. Following the sale, the chief accounting officer directly owned 140,084 shares of the company’s stock, valued at approximately $3,338,201.72. This represents a 3.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Bruce Campbell sold 150,000 shares of the firm’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $18.00, for a total transaction of $2,700,000.00. Following the completion of the sale, the insider 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,202,325 shares of company stock valued at $23,053,615 over the last 90 days. 1.90% of the stock is owned by corporate 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.