R Squared Ltd Makes New $126,000 Investment in Warner Bros. Discovery, Inc. $WBD

R Squared Ltd purchased a new position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 10,980 shares of the company’s stock, valued at approximately $126,000.

A number of other institutional investors also recently bought and sold shares of WBD. WPG Advisers LLC purchased a new stake in Warner Bros. Discovery during the 1st quarter worth about $26,000. Financial Gravity Asset Management Inc. purchased a new stake in Warner Bros. Discovery during the 1st quarter worth about $27,000. North Capital Inc. purchased a new stake in Warner Bros. Discovery during the 1st quarter worth about $28,000. Smallwood Wealth Investment Management LLC purchased a new stake in Warner Bros. Discovery during the 1st quarter worth about $29,000. Finally, Golden State Wealth Management LLC lifted its holdings in Warner Bros. Discovery by 448.0% during the 1st quarter. Golden State Wealth Management LLC now owns 2,877 shares of the company’s stock worth $31,000 after buying an additional 2,352 shares during the last quarter. 59.95% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Warner Bros. Discovery news, CFO Gunnar Wiedenfels sold 530,793 shares of the 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 transaction, the chief financial officer owned 1,141,150 shares of the company’s stock, valued at $22,252,425. This represents a 31.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Anton J. Levy purchased 250,000 shares of Warner Bros. Discovery stock in a transaction on Monday, August 11th. The shares were acquired at an average cost of $10.90 per share, for a total transaction of $2,725,000.00. Following the purchase, the director owned 874,000 shares in the company, valued at approximately $9,526,600. This trade represents a 40.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 970,115 shares of company stock valued at $17,818,490 in the last quarter. 1.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

WBD has been the subject of several research reports. Morgan Stanley boosted their target price on Warner Bros. Discovery from $13.00 to $15.00 and gave the company an “equal weight” rating in a report on Thursday, September 25th. Weiss Ratings reissued a “hold (c-)” rating on shares of Warner Bros. Discovery in a report on Friday. Deutsche Bank Aktiengesellschaft boosted their target price on Warner Bros. Discovery from $19.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, October 22nd. Singular Research raised Warner Bros. Discovery to a “moderate buy” rating in a report on Wednesday, October 22nd. Finally, Moffett Nathanson boosted their target price 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, nine have given a Buy rating and sixteen have given a Hold rating to the company. According to data from MarketBeat.com, Warner Bros. Discovery has an average rating of “Hold” and an average target price of $17.68.

Warner Bros. Discovery Stock Performance

WBD opened at $21.15 on Monday. The stock has a market cap 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 company has a debt-to-equity ratio of 0.92, a current ratio of 1.04 and a quick ratio of 1.04. The stock’s 50 day simple moving average is $16.40 and its 200 day simple moving average is $12.50. Warner Bros. Discovery, Inc. has a 1-year low of $7.49 and a 1-year high of $21.57.

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

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.