Nissay Asset Management Corp Japan Purchases 46,422 Shares of Warner Bros. Discovery, Inc. $WBD

Nissay Asset Management Corp Japan raised its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 6.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 725,239 shares of the company’s stock after purchasing an additional 46,422 shares during the quarter. Nissay Asset Management Corp Japan’s holdings in Warner Bros. Discovery were worth $19,335,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of WBD. Bank of America Corp DE lifted its position in Warner Bros. Discovery by 21.9% in the 1st quarter. Bank of America Corp DE now owns 16,616,949 shares of the company’s stock valued at $456,301,000 after acquiring an additional 2,980,900 shares in the last quarter. Handelsbanken Fonder AB increased its holdings in Warner Bros. Discovery by 130.8% during the 4th quarter. Handelsbanken Fonder AB now owns 1,008,638 shares of the company’s stock worth $29,069,000 after purchasing an additional 571,612 shares in the last quarter. Brighton Jones LLC raised its stake in shares of Warner Bros. Discovery by 304.9% in the fourth quarter. Brighton Jones LLC now owns 68,950 shares of the company’s stock worth $729,000 after purchasing an additional 51,920 shares during the last quarter. Varma Mutual Pension Insurance Co purchased a new stake in shares of Warner Bros. Discovery in the fourth quarter worth approximately $12,372,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Warner Bros. Discovery by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 66,597,575 shares of the company’s stock valued at $1,912,634,000 after purchasing an additional 1,028,346 shares in the last quarter. Institutional investors and hedge funds own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Performance

Shares of Warner Bros. Discovery stock opened at $28.77 on Friday. The business’s fifty day simple moving average is $26.95 and its 200 day simple moving average is $27.24. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.90. Warner Bros. Discovery, Inc. has a 12 month low of $11.25 and a 12 month high of $30.00. The firm has a market capitalization of $72.23 billion, a P/E ratio of -22.65 and a beta of 1.55.

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

Insider Activity

In other news, Director Kenneth W. Lowe sold 120,000 shares of the business’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $26.97, for a total transaction of $3,236,400.00. Following the completion of the transaction, the director owned 990,108 shares of the company’s stock, valued at approximately $26,703,212.76. The trade was a 10.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David Zaslav sold 773,173 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $28.01, for a total transaction of $21,656,575.73. Following the completion of the transaction, the chief executive officer owned 6,807,934 shares in the company, valued at approximately $190,690,231.34. This trade represents a 10.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 1,750,749 shares of company stock worth $48,329,633. Company insiders own 0.70% of the company’s stock.

Analyst Upgrades and Downgrades

WBD has been the topic of several analyst reports. Weiss Ratings raised Warner Bros. Discovery from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Tuesday, August 18th. Seaport Research Partners lowered Warner Bros. Discovery from a “buy” rating to a “neutral” rating in a research report on Monday, July 27th. Guggenheim restated a “neutral” rating on shares of Warner Bros. Discovery in a research note on Thursday, May 7th. Huber Research raised shares of Warner Bros. Discovery from an “underweight” rating to an “overweight” rating in a report on Monday, June 1st. Finally, Freedom Capital upgraded shares of Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 10th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently 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.