Strs Ohio Purchases 505,864 Shares of Warner Bros. Discovery, Inc. $WBD

by · The Cerbat Gem

Strs Ohio raised its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD – Free Report) by 39.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,779,871 shares of the company’s stock after buying an additional 505,864 shares during the period. Strs Ohio owned 0.07% of Warner Bros. Discovery worth $20,397,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Heritage Investors Management Corp grew its holdings in shares of Warner Bros. Discovery by 5.6% during the second quarter. Heritage Investors Management Corp now owns 73,409 shares of the company’s stock worth $842,000 after purchasing an additional 3,922 shares during the last quarter. Atria Investments Inc grew its holdings in shares of Warner Bros. Discovery by 2.5% during the second quarter. Atria Investments Inc now owns 53,524 shares of the company’s stock worth $613,000 after purchasing an additional 1,285 shares during the last quarter. Assetmark Inc. grew its holdings in shares of Warner Bros. Discovery by 152.2% during the second quarter. Assetmark Inc. now owns 381,378 shares of the company’s stock worth $4,371,000 after purchasing an additional 230,144 shares during the last quarter. Keybank National Association OH grew its holdings in shares of Warner Bros. Discovery by 0.8% during the second quarter. Keybank National Association OH now owns 116,809 shares of the company’s stock worth $1,339,000 after purchasing an additional 923 shares during the last quarter. Finally, Premier Path Wealth Partners LLC grew its holdings in shares of Warner Bros. Discovery by 0.6% during the second quarter. Premier Path Wealth Partners LLC now owns 134,943 shares of the company’s stock worth $1,546,000 after purchasing an additional 857 shares during the last quarter. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Warner Bros. Discovery Stock Up 3.8%

Shares of Warner Bros. Discovery stock opened at $22.45 on Friday. The business’s 50 day simple moving average is $17.38 and its 200 day simple moving average is $12.92. Warner Bros. Discovery, Inc. has a 52-week low of $7.52 and a 52-week high of $22.56. The firm has a market cap of $55.58 billion, a PE ratio of 74.84, a P/E/G ratio of 2.56 and a beta of 1.73. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.04 and a current ratio of 1.04.

Warner Bros. Discovery (NASDAQ:WBD – Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.79. The firm had revenue of $9.81 billion for the quarter, compared to analyst estimates of $9.73 billion. Warner Bros. Discovery had a return on equity of 2.14% and a net margin of 2.00%.The business’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($4.07) EPS. On average, analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

WBD has been the topic of several recent research reports. Singular Research raised shares of Warner Bros. Discovery to a “moderate buy” rating in a research note on Wednesday, October 22nd. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Warner Bros. Discovery from $19.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, October 22nd. Redburn Partners set a $28.00 price target on shares of Warner Bros. Discovery in a research note on Thursday. Raymond James Financial boosted their price target on shares of Warner Bros. Discovery from $13.00 to $22.00 and gave the stock an “outperform” rating in a research note on Thursday, October 2nd. Finally, Morgan Stanley raised their target price on Warner Bros. Discovery from $13.00 to $15.00 and gave the stock an “equal weight” rating in a report on Thursday, September 25th. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and fifteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Warner Bros. Discovery presently has an average rating of “Moderate Buy” and a consensus target price of $19.91.

Get Our Latest Report on WBD

Insider Buying and Selling at Warner Bros. Discovery

In related news, insider Bruce Campbell sold 150,000 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $18.00, for a total transaction of $2,700,000.00. Following the transaction, the insider directly owned 252,464 shares of the company’s stock, valued at approximately $4,544,352. The trade was a 37.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Anton J. Levy bought 75,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 12th. The shares were acquired at an average cost of $11.00 per share, for a total transaction of $825,000.00. Following the completion of the acquisition, the director directly owned 949,000 shares in the company, valued at $10,439,000. The trade was a 8.58% increase in their position. The SEC filing for this purchase provides additional information. Insiders sold a total of 970,115 shares of company stock worth $17,818,490 over the last quarter. 1.90% of the stock is currently owned by insiders.

About Warner Bros. Discovery

(Free Report)

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.

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