Mitsubishi UFJ Trust & Banking Corp Has $18.75 Million Stock Position in Warner Bros. Discovery, Inc. $WBD

Mitsubishi UFJ Trust & Banking Corp reduced its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 3.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 959,831 shares of the company’s stock after selling 31,680 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Warner Bros. Discovery were worth $18,745,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. Grove Bank & Trust raised its position in shares of Warner Bros. Discovery by 66.5% during the third quarter. Grove Bank & Trust now owns 1,690 shares of the company’s stock valued at $33,000 after buying an additional 675 shares during the last quarter. Crews Bank & Trust increased its stake in Warner Bros. Discovery by 1,242.2% during the third quarter. Crews Bank & Trust now owns 1,718 shares of the company’s stock valued at $34,000 after acquiring an additional 1,590 shares during the period. Meeder Asset Management Inc. raised its holdings in Warner Bros. Discovery by 183.9% in the 3rd quarter. Meeder Asset Management Inc. now owns 1,891 shares of the company’s stock valued at $37,000 after acquiring an additional 1,225 shares in the last quarter. Cranbrook Wealth Management LLC lifted its position in shares of Warner Bros. Discovery by 73.8% in the 3rd quarter. Cranbrook Wealth Management LLC now owns 1,929 shares of the company’s stock worth $38,000 after acquiring an additional 819 shares during the period. Finally, Salomon & Ludwin LLC lifted its position in shares of Warner Bros. Discovery by 69.7% in the 3rd quarter. Salomon & Ludwin LLC now owns 2,075 shares of the company’s stock worth $39,000 after acquiring an additional 852 shares during the period. 59.95% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Gunnar Wiedenfels sold 242,994 shares of the company’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $29.50, for a total transaction of $7,168,323.00. Following the transaction, the chief financial officer owned 918,940 shares in the company, valued at $27,108,730. This represents a 20.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Lori C. Locke sold 5,000 shares of the stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $27.62, for a total transaction of $138,100.00. Following the sale, the chief accounting officer directly owned 110,084 shares in the company, valued at approximately $3,040,520.08. This represents a 4.34% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 489,326 shares of company stock worth $12,781,456. Insiders own 1.80% of the company’s stock.

Warner Bros. Discovery Price Performance

NASDAQ:WBD opened at $28.24 on Tuesday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.90. The firm has a market cap of $69.98 billion, a PE ratio of 148.64 and a beta of 1.56. Warner Bros. Discovery, Inc. has a 12 month low of $7.52 and a 12 month high of $30.00. The company’s 50-day moving average price is $27.32 and its two-hundred day moving average price is $20.19.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.02). The firm had revenue of $9.05 billion for the quarter, compared to analyst estimates of $9.17 billion. Warner Bros. Discovery had a return on equity of 1.34% and a net margin of 1.28%.The business’s quarterly revenue was down 6.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.05 EPS. On average, equities analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on WBD shares. Barrington Research lowered Warner Bros. Discovery from an “outperform” rating to a “hold” rating in a research note on Friday, December 5th. Wells Fargo & Company boosted their price target on shares of Warner Bros. Discovery from $21.00 to $25.00 and gave the company an “equal weight” rating in a report on Friday, November 7th. Sanford C. Bernstein increased their price objective on shares of Warner Bros. Discovery from $16.00 to $23.50 in a research note on Friday, November 7th. Redburn Partners set a $28.00 target price on shares of Warner Bros. Discovery in a research report on Thursday, October 30th. Finally, The Goldman Sachs Group upped their target price on shares of Warner Bros. Discovery from $13.00 to $14.75 and gave the company a “buy” rating in a research note on Friday, November 7th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $24.75.

Warner Bros. Discovery Profile

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.