Warner Bros. Discovery, Inc. $WBD Shares Purchased by Ethic Inc.

Ethic Inc. increased its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 4.1% in the second quarter, Holdings Channel reports. The firm owned 254,847 shares of the company’s stock after acquiring an additional 9,974 shares during the period. Ethic Inc.’s holdings in Warner Bros. Discovery were worth $2,880,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of WBD. WPG Advisers LLC acquired a new stake in Warner Bros. Discovery during the 1st quarter worth approximately $26,000. Financial Gravity Asset Management Inc. acquired a new stake in Warner Bros. Discovery in the first quarter valued at approximately $27,000. North Capital Inc. acquired a new stake in Warner Bros. Discovery in the first quarter valued at approximately $28,000. Smallwood Wealth Investment Management LLC acquired a new stake in Warner Bros. Discovery in the first quarter valued at approximately $29,000. Finally, Golden State Wealth Management LLC grew its position in Warner Bros. Discovery by 448.0% in the first quarter. Golden State Wealth Management LLC now owns 2,877 shares of the company’s stock valued at $31,000 after acquiring an additional 2,352 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 WBD opened at $21.15 on Friday. The business’s fifty day moving average price is $16.40 and its 200 day moving average price is $12.44. Warner Bros. Discovery, Inc. has a 12-month low of $7.49 and a 12-month high of $21.57. The stock has a market capitalization of $52.36 billion, a PE ratio of 70.50, a price-to-earnings-growth ratio of 2.58 and a beta of 1.73. 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 (NASDAQ:WBD) last announced 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 for the quarter, compared to analysts’ expectations of $9.73 billion. During the same period last year, the business posted ($4.07) earnings per share. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. Equities research analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Warner Bros. Discovery in a research report on Friday. UBS Group increased their price objective on shares of Warner Bros. Discovery from $10.00 to $20.00 and gave the company a “neutral” rating in a research report on Monday, October 6th. The Goldman Sachs Group increased their price objective on shares of Warner Bros. Discovery from $11.50 to $13.00 and gave the company a “neutral” rating in a research report on Tuesday, September 30th. Morgan Stanley increased their price objective on shares of Warner Bros. Discovery from $13.00 to $15.00 and gave the company an “equal weight” rating in a research report on Thursday, September 25th. Finally, Barrington Research reissued an “outperform” rating and set a $16.00 price target on shares of Warner Bros. Discovery in a research report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and sixteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Warner Bros. Discovery presently has an average rating of “Hold” and a consensus target price of $17.68.

Insider Buying and Selling

In other news, Director Anton J. Levy acquired 250,000 shares of Warner Bros. Discovery stock in a transaction that occurred on Monday, August 11th. The shares were purchased at an average cost of $10.90 per share, for a total transaction of $2,725,000.00. Following the completion of the purchase, the director directly owned 874,000 shares of the company’s stock, valued at $9,526,600. This trade represents a 40.06% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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 value of $10,350,463.50. Following the transaction, the chief financial officer owned 1,141,150 shares in the company, valued at $22,252,425. This trade represents a 31.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 970,115 shares of company stock worth $17,818,490 over the last ninety days. 1.90% of the stock is owned by insiders.

Warner Bros. Discovery Company 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.