Warner Bros. Discovery, Inc. $WBD Shares Acquired by Nordea Investment Management AB

Nordea Investment Management AB lifted its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 7.9% in the second quarter, Holdings Channel reports. The firm owned 199,117 shares of the company’s stock after acquiring an additional 14,538 shares during the period. Nordea Investment Management AB’s holdings in Warner Bros. Discovery were worth $2,281,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Independent Franchise Partners LLP acquired a new position in Warner Bros. Discovery during the first quarter worth approximately $140,224,000. Nuveen LLC purchased a new position in shares of Warner Bros. Discovery during the first quarter worth approximately $96,971,000. KBC Group NV increased its holdings in shares of Warner Bros. Discovery by 682.8% in the 1st quarter. KBC Group NV now owns 7,145,308 shares of the company’s stock valued at $76,669,000 after acquiring an additional 6,232,561 shares during the period. Apollo Management Holdings L.P. purchased a new stake in Warner Bros. Discovery in the 1st quarter valued at $65,031,000. Finally, Dimensional Fund Advisors LP boosted its stake in Warner Bros. Discovery by 63.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 12,839,389 shares of the company’s stock worth $137,700,000 after purchasing an additional 4,994,894 shares during the period. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Insider Activity at Warner Bros. Discovery

In related news, CFO Gunnar Wiedenfels sold 530,793 shares of the company’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 in the company, valued at $22,252,425. This represents a 31.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Bruce Campbell sold 150,000 shares of the firm’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 value of $2,700,000.00. Following the completion of the transaction, the insider directly owned 252,464 shares of the company’s stock, valued at $4,544,352. The trade was a 37.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 970,115 shares of company stock worth $17,818,490 over the last 90 days. Company insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Needham & Company LLC reissued a “hold” rating on shares of Warner Bros. Discovery in a research report on Friday, September 12th. Barrington Research reissued an “outperform” rating and set a $16.00 price target on shares of Warner Bros. Discovery in a report on Wednesday, July 30th. The Goldman Sachs Group boosted their price target on Warner Bros. Discovery from $11.50 to $13.00 and gave the company a “neutral” rating in a research report on Tuesday, September 30th. Weiss Ratings raised Warner Bros. Discovery from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, October 8th. Finally, Sanford C. Bernstein lifted their target price on Warner Bros. Discovery from $13.00 to $16.00 and gave the company a “market perform” rating in a research note on Monday, September 22nd. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and sixteen have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $17.68.

Warner Bros. Discovery Stock Performance

NASDAQ WBD opened at $20.53 on Thursday. The stock has a market capitalization of $50.83 billion, a price-to-earnings ratio of 68.44, a PEG ratio of 2.48 and a beta of 1.73. The business’s 50 day moving average is $16.03 and its two-hundred day moving average is $12.26. Warner Bros. Discovery, Inc. has a 12-month low of $7.25 and a 12-month high of $21.22. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.92.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.63 earnings per share 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 the consensus estimate of $9.73 billion. During the same period in the previous year, the business earned ($4.07) earnings per share. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. Research analysts expect that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

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.