Handelsbanken Fonder AB Lowers Stock Holdings in Warner Bros. Discovery, Inc. $WBD

Handelsbanken Fonder AB cut its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 24.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 416,408 shares of the company’s stock after selling 134,778 shares during the quarter. Handelsbanken Fonder AB’s holdings in Warner Bros. Discovery were worth $4,772,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. WPG Advisers LLC bought a new position in Warner Bros. Discovery in the first quarter worth approximately $26,000. Financial Gravity Companies Inc. purchased a new stake in shares of Warner Bros. Discovery in the 2nd quarter worth $29,000. Trifecta Capital Advisors LLC bought a new position in shares of Warner Bros. Discovery during the 2nd quarter worth $34,000. N.E.W. Advisory Services LLC purchased a new position in shares of Warner Bros. Discovery during the first quarter valued at $36,000. Finally, Zions Bancorporation National Association UT bought a new stake in shares of Warner Bros. Discovery in the first quarter valued at about $42,000. Institutional investors own 59.95% of the company’s stock.

Analyst Ratings Changes

WBD has been the topic of several recent research reports. Bank of America increased their target price on shares of Warner Bros. Discovery from $16.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, September 30th. Arete upped their price target on shares of Warner Bros. Discovery from $24.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, October 28th. Guggenheim increased their price objective on shares of Warner Bros. Discovery from $22.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Rothschild Redb raised shares of Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 30th. Finally, Singular Research upgraded Warner Bros. Discovery to a “moderate buy” rating in a report on Wednesday, October 22nd. Three research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Warner Bros. Discovery has an average rating of “Moderate Buy” and an average target price of $21.92.

Warner Bros. Discovery Stock Down 1.3%

Shares of Warner Bros. Discovery stock opened at $22.86 on Tuesday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.92. The company has a market cap of $56.65 billion, a P/E ratio of 76.20, a PEG ratio of 2.56 and a beta of 1.74. The firm’s 50 day moving average price is $20.46 and its 200-day moving average price is $14.61. Warner Bros. Discovery, Inc. has a 52-week low of $7.52 and a 52-week high of $24.19.

Warner Bros. Discovery (NASDAQ:WBD) last announced its earnings results on Thursday, November 6th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.02). The firm had revenue of $9.05 billion during the quarter, compared to analyst estimates of $9.17 billion. Warner Bros. Discovery had a net margin of 2.00% and a return on equity of 2.14%. Warner Bros. Discovery’s revenue was down 6.0% on a year-over-year basis. During the same quarter last year, the business earned $0.05 earnings per share. On average, sell-side analysts predict that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Insider Buying and Selling at Warner Bros. Discovery

In related news, CFO Gunnar Wiedenfels sold 530,793 shares of the company’s stock in a transaction dated 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 directly 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 filing with the SEC, which is available at this link. Also, insider Bruce Campbell sold 289,322 shares of the stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $16.48, for a total value of $4,768,026.56. Following the completion of the sale, the insider owned 402,464 shares of the company’s stock, valued at approximately $6,632,606.72. This trade represents a 41.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 1,192,325 shares of company stock worth $22,818,215. 1.90% of the stock is owned by company insiders.

About Warner Bros. Discovery

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.