Cromwell Holdings LLC Sells 1,370 Shares of Warner Bros. Discovery, Inc. $WBD

Cromwell Holdings LLC reduced its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 32.7% during the second quarter, Holdings Channel.com reports. The fund owned 2,824 shares of the company’s stock after selling 1,370 shares during the quarter. Cromwell Holdings LLC’s holdings in Warner Bros. Discovery were worth $32,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Voya Investment Management LLC increased its holdings in Warner Bros. Discovery by 34.9% during the 1st quarter. Voya Investment Management LLC now owns 7,035,842 shares of the company’s stock worth $75,495,000 after purchasing an additional 1,820,249 shares during the period. Bfsg LLC grew its position in shares of Warner Bros. Discovery by 11.2% during the 2nd quarter. Bfsg LLC now owns 156,906 shares of the company’s stock worth $1,798,000 after buying an additional 15,786 shares in the last quarter. Kingstone Capital Partners Texas LLC bought a new position in shares of Warner Bros. Discovery during the 2nd quarter worth $4,089,000. Hi Line Capital Management LLC increased its stake in shares of Warner Bros. Discovery by 17.8% during the first quarter. Hi Line Capital Management LLC now owns 597,478 shares of the company’s stock valued at $6,411,000 after buying an additional 90,462 shares during the period. Finally, Mn Services Vermogensbeheer B.V. raised its holdings in shares of Warner Bros. Discovery by 4.3% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 878,600 shares of the company’s stock valued at $10,069,000 after acquiring an additional 36,100 shares in the last quarter. 59.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. UBS Group raised their target price on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Tuesday, July 8th. Raymond James Financial increased their price objective on shares of Warner Bros. Discovery from $13.00 to $22.00 and gave the company an “outperform” rating in a research note on Thursday. Bank of America boosted their price objective on shares of Warner Bros. Discovery from $16.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday. Sanford C. Bernstein increased their target price on Warner Bros. Discovery from $13.00 to $16.00 and gave the company a “market perform” rating in a research report on Monday, September 22nd. Finally, Moffett Nathanson lifted their price target on Warner Bros. Discovery from $14.00 to $23.00 and gave the company a “buy” rating in a report on Monday, September 22nd. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Warner Bros. Discovery presently has a consensus rating of “Hold” and a consensus target price of $15.14.

Warner Bros. Discovery Price Performance

Shares of WBD opened at $18.99 on Friday. The company has a 50 day moving average of $14.45 and a two-hundred day moving average of $11.53. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.92. Warner Bros. Discovery, Inc. has a twelve month low of $7.25 and a twelve month high of $20.24. The company has a market cap of $47.01 billion, a price-to-earnings ratio of 63.30, a price-to-earnings-growth ratio of 2.46 and a beta of 1.73.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.63 EPS for the quarter, beating 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 analyst estimates of $9.73 billion. During the same quarter in the prior year, the business posted ($4.07) EPS. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. As a group, analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Insider Transactions at Warner Bros. Discovery

In other Warner Bros. Discovery news, insider Bruce Campbell sold 150,000 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $18.00, for a total transaction of $2,700,000.00. Following the sale, the insider 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Gunnar Wiedenfels sold 530,793 shares of the firm’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $19.50, for a total transaction of $10,350,463.50. Following the completion of the transaction, the chief financial officer directly owned 1,141,150 shares of the company’s stock, valued at approximately $22,252,425. This represents a 31.75% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 970,115 shares of company stock worth $17,818,490. Insiders own 1.90% of the company’s stock.

Warner Bros. Discovery Profile

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.