Asset Management One Co. Ltd. Grows Stock Holdings in Warner Bros. Discovery, Inc. $WBD

Asset Management One Co. Ltd. increased its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 1.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,023,832 shares of the company’s stock after buying an additional 16,886 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Warner Bros. Discovery were worth $11,733,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently 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. Financial Gravity Asset Management Inc. purchased a new stake in Warner Bros. Discovery in the 1st quarter valued at approximately $27,000. North Capital Inc. purchased a new stake in Warner Bros. Discovery in the 1st quarter valued at approximately $28,000. Smallwood Wealth Investment Management LLC purchased a new stake in Warner Bros. Discovery in the 1st quarter valued at approximately $29,000. Finally, Golden State Wealth Management LLC boosted its holdings in Warner Bros. Discovery by 448.0% in the 1st quarter. Golden State Wealth Management LLC now owns 2,877 shares of the company’s stock valued at $31,000 after purchasing an additional 2,352 shares in the last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Trading Down 0.5%

Shares of Warner Bros. Discovery stock opened at $21.15 on Monday. 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 1 year low of $7.49 and a 1 year high of $21.57. The company has a market capitalization of $52.36 billion, a P/E ratio of 70.50, a P/E/G ratio of 2.57 and a beta of 1.73. The business has a 50 day moving average price of $16.40 and a 200 day moving average price of $12.50.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.79. Warner Bros. Discovery had a return on equity of 2.14% and a net margin of 2.00%.The firm had revenue of $9.81 billion during the quarter, compared to the consensus estimate of $9.73 billion. During the same period in the previous year, the firm posted ($4.07) EPS. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. Sell-side analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on WBD. Moffett Nathanson lifted their price objective on Warner Bros. Discovery from $14.00 to $23.00 and gave the company a “buy” rating in a report on Monday, September 22nd. TD Cowen reaffirmed a “hold” rating and issued a $14.00 price objective on shares of Warner Bros. Discovery in a report on Tuesday, September 16th. Singular Research raised Warner Bros. Discovery to a “moderate buy” rating in a research note on Wednesday, October 22nd. Barrington Research reissued an “outperform” rating and set a $16.00 price target on shares of Warner Bros. Discovery in a research note on Wednesday, July 30th. Finally, Morgan Stanley boosted their price target on Warner Bros. Discovery from $13.00 to $15.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and sixteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $17.68.

Insider Buying and Selling

In other Warner Bros. Discovery news, CFO Gunnar Wiedenfels sold 530,793 shares of the business’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $19.50, for a total value of $10,350,463.50. Following the completion of the transaction, the chief financial officer directly owned 1,141,150 shares in the company, valued at approximately $22,252,425. The trade was a 31.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Bruce Campbell sold 289,322 shares of the business’s stock in a transaction on Thursday, September 11th. The shares were 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 owned 402,464 shares of the company’s stock, valued at $6,632,606.72. This trade represents a 41.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 970,115 shares of company stock worth $17,818,490 in the last ninety days. Insiders own 1.90% of the company’s stock.

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.