Credit Industriel ET Commercial Grows Stake in Warner Bros. Discovery, Inc. $WBD

Credit Industriel ET Commercial increased its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 200.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 210,000 shares of the company’s stock after acquiring an additional 140,000 shares during the period. Credit Industriel ET Commercial’s holdings in Warner Bros. Discovery were worth $6,052,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Swedbank AB grew its position in Warner Bros. Discovery by 44.1% in the fourth quarter. Swedbank AB now owns 1,535,742 shares of the company’s stock worth $44,260,000 after acquiring an additional 470,297 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Warner Bros. Discovery by 5.1% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 5,299,328 shares of the company’s stock worth $151,084,000 after acquiring an additional 256,172 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Warner Bros. Discovery by 1.0% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 299,145 shares of the company’s stock worth $8,621,000 after acquiring an additional 3,097 shares in the last quarter. RNC Capital Management LLC purchased a new position in Warner Bros. Discovery in the fourth quarter worth about $264,000. Finally, Principal Financial Group Inc. boosted its position in shares of Warner Bros. Discovery by 2.6% during the fourth quarter. Principal Financial Group Inc. now owns 2,748,072 shares of the company’s stock valued at $79,199,000 after buying an additional 69,544 shares during the period. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Insider Activity

In other news, insider Gerhard Zeiler sold 600,000 shares of Warner Bros. Discovery stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $28.02, for a total transaction of $16,812,000.00. Following the completion of the sale, the insider owned 672,649 shares of the company’s stock, valued at approximately $18,847,624.98. The trade was a 47.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Bruce Campbell sold 41,784 shares of Warner Bros. Discovery stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $27.82, for a total transaction of $1,162,430.88. Following the sale, the insider directly owned 604,666 shares of the company’s stock, valued at $16,821,808.12. This represents a 6.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 8,206,827 shares of company stock valued at $230,674,025. Insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

WBD has been the subject of several recent analyst reports. Arete Research restated a “neutral” rating and set a $31.25 target price on shares of Warner Bros. Discovery in a research report on Friday, February 27th. TD Cowen boosted their target price on Warner Bros. Discovery from $22.00 to $26.00 and gave the company a “hold” rating in a research report on Friday, February 27th. Moffett Nathanson upgraded Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a research report on Sunday, March 8th. Zacks Research lowered Warner Bros. Discovery from a “hold” rating to a “strong sell” rating in a research report on Friday, May 1st. Finally, Guggenheim restated a “buy” rating on shares of Warner Bros. Discovery in a research report on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, thirteen have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Warner Bros. Discovery has a consensus rating of “Hold” and a consensus target price of $26.30.

Warner Bros. Discovery Stock Performance

Warner Bros. Discovery stock opened at $27.22 on Wednesday. The company has a 50 day moving average price of $27.56 and a 200-day moving average price of $26.53. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.06 and a current ratio of 1.06. Warner Bros. Discovery, Inc. has a fifty-two week low of $8.06 and a fifty-two week high of $30.00. The company has a market capitalization of $68.24 billion, a PE ratio of 93.88 and a beta of 1.57.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings results on Thursday, February 26th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.19). Warner Bros. Discovery had a net margin of 1.95% and a return on equity of 1.98%. The company had revenue of $9.46 billion for the quarter, compared to the consensus estimate of $9.33 billion. During the same period in the prior year, the firm posted ($0.20) EPS. The business’s revenue was down 5.7% on a year-over-year basis. As a group, equities analysts forecast that Warner Bros. Discovery, Inc. will post -0.14 earnings per share for the current year.

Warner Bros. Discovery Company 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.