Profund Advisors LLC Sells 11,445 Shares of Warner Bros. Discovery, Inc. $WBD

Profund Advisors LLC reduced its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 3.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 282,899 shares of the company’s stock after selling 11,445 shares during the quarter. Profund Advisors LLC’s holdings in Warner Bros. Discovery were worth $3,242,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Independent Franchise Partners LLP acquired a new stake in Warner Bros. Discovery in the first quarter worth about $140,224,000. Nuveen LLC purchased a new position in Warner Bros. Discovery in the 1st quarter worth $96,971,000. Sound Shore Management Inc CT acquired a new stake in Warner Bros. Discovery during the 2nd quarter worth about $97,951,000. Apollo Management Holdings L.P. purchased a new stake in Warner Bros. Discovery during the 1st quarter valued at about $65,031,000. Finally, Dimensional Fund Advisors LP increased its holdings in Warner Bros. Discovery by 63.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 12,839,389 shares of the company’s stock worth $137,700,000 after buying an additional 4,994,894 shares during the period. Institutional investors and hedge funds own 59.95% of the company’s stock.

Insider Buying and Selling

In other Warner Bros. Discovery news, Director Anton J. Levy acquired 75,000 shares of the company’s stock in a transaction dated Tuesday, August 12th. The shares were acquired at an average price of $11.00 per share, for a total transaction of $825,000.00. Following the acquisition, the director owned 949,000 shares in the company, valued at $10,439,000. The trade was a 8.58% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Gunnar Wiedenfels sold 530,793 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer owned 1,141,150 shares of the company’s stock, valued at approximately $22,252,425. The trade was a 31.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 1,192,325 shares of company stock worth $22,818,215 over the last 90 days. 1.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have commented on WBD. Guggenheim upped their price target on shares of Warner Bros. Discovery from $22.00 to $25.00 and gave the company a “buy” rating in a report on Friday. Rothschild Redb raised shares of Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 30th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Warner Bros. Discovery from $19.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Redburn Partners set a $28.00 price objective on shares of Warner Bros. Discovery in a report on Thursday, October 30th. Finally, Arete Research upgraded Warner Bros. Discovery to a “strong-buy” rating in a research note on Tuesday, October 28th. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $21.70.

Warner Bros. Discovery Trading Up 1.1%

Shares of Warner Bros. Discovery stock opened at $22.67 on Monday. 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 $18.44 and its 200-day simple moving average is $13.50. The stock has a market cap of $56.13 billion, a P/E ratio of 75.57, a P/E/G ratio of 2.56 and a beta of 1.74. Warner Bros. Discovery, Inc. has a 1-year low of $7.52 and a 1-year high of $23.06.

Warner Bros. Discovery (NASDAQ:WBD) last released its earnings results on Thursday, November 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). Warner Bros. Discovery had a return on equity of 2.14% and a net margin of 2.00%.The business had revenue of $9.05 billion for the quarter, compared to analyst estimates of $9.17 billion. During the same quarter last year, the company earned $0.05 earnings per share. Warner Bros. Discovery’s quarterly revenue was down 6.0% compared to the same quarter last year. Analysts predict 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.