Livforsakringsbolaget Skandia Omsesidigt Takes $475,000 Position in Warner Bros. Discovery, Inc. $WBD

Livforsakringsbolaget Skandia Omsesidigt bought a new stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the second quarter, Holdings Channel reports. The institutional investor bought 17,851 shares of the company’s stock, valued at approximately $475,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Venturi Wealth Management LLC boosted its stake in Warner Bros. Discovery by 4.5% during the first quarter. Venturi Wealth Management LLC now owns 8,462 shares of the company’s stock worth $232,000 after buying an additional 367 shares in the last quarter. Krilogy Financial LLC raised its stake in shares of Warner Bros. Discovery by 2.6% in the 1st quarter. Krilogy Financial LLC now owns 14,809 shares of the company’s stock valued at $406,000 after buying an additional 369 shares in the last quarter. Cromwell Holdings LLC raised its stake in shares of Warner Bros. Discovery by 7.6% in the 2nd quarter. Cromwell Holdings LLC now owns 5,467 shares of the company’s stock valued at $146,000 after buying an additional 386 shares in the last quarter. Elevation Wealth Partners LLC raised its stake in shares of Warner Bros. Discovery by 64.3% in the 2nd quarter. Elevation Wealth Partners LLC now owns 1,009 shares of the company’s stock valued at $27,000 after buying an additional 395 shares in the last quarter. Finally, Optas LLC lifted its holdings in shares of Warner Bros. Discovery by 2.7% during the 1st quarter. Optas LLC now owns 15,529 shares of the company’s stock worth $426,000 after acquiring an additional 409 shares during the period. 59.95% of the stock is owned by institutional investors.

Insider Activity at Warner Bros. Discovery

In other news, CEO David Zaslav sold 194,999 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $28.02, for a total transaction of $5,463,871.98. Following the transaction, the chief executive officer directly owned 6,807,934 shares in the company, valued at approximately $190,758,310.68. This represents a 2.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gerhard Zeiler sold 591,038 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $27.05, for a total transaction of $15,987,577.90. Following the sale, the insider directly owned 537,436 shares in the company, valued at $14,537,643.80. This trade represents a 52.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 1,750,749 shares of company stock worth $48,329,633 in the last quarter. Insiders own 0.70% of the company’s stock.

Warner Bros. Discovery Price Performance

Warner Bros. Discovery stock opened at $28.77 on Friday. The business’s fifty day moving average is $26.95 and its two-hundred day moving average is $27.24. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.78 and a current ratio of 0.78. The firm has a market cap of $72.23 billion, a P/E ratio of -22.65 and a beta of 1.55. Warner Bros. Discovery, Inc. has a 52 week low of $11.25 and a 52 week high of $30.00.

Warner Bros. Discovery (NASDAQ:WBD) last announced its earnings results on Thursday, August 6th. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.20. Warner Bros. Discovery had a negative return on equity of 8.91% and a negative net margin of 8.77%.The company had revenue of $8.72 billion during the quarter, compared to analyst estimates of $9.25 billion. During the same period last year, the company posted $0.63 earnings per share. The firm’s quarterly revenue was down 11.2% compared to the same quarter last year. Equities research analysts forecast that Warner Bros. Discovery, Inc. will post -1.11 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Seaport Research Partners cut shares of Warner Bros. Discovery from a “buy” rating to a “neutral” rating in a research note on Monday, July 27th. Zacks Research upgraded shares of Warner Bros. Discovery from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 25th. Weiss Ratings raised Warner Bros. Discovery from a “sell (d-)” rating to a “sell (d+)” rating in a report on Tuesday, August 18th. UBS Group upped their price objective on Warner Bros. Discovery from $30.00 to $31.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Finally, Guggenheim reissued a “neutral” rating on shares of Warner Bros. Discovery in a report on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $27.69.

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.