Claro Advisors LLC Acquires New Holdings in Warner Bros. Discovery, Inc. $WBD

Claro Advisors LLC bought a new position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) during the second quarter, Holdings Channel reports. The fund bought 11,107 shares of the company’s stock, valued at approximately $127,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WBD. Voya Investment Management LLC increased its holdings in Warner Bros. Discovery by 34.9% in the first quarter. Voya Investment Management LLC now owns 7,035,842 shares of the company’s stock worth $75,495,000 after purchasing an additional 1,820,249 shares in the last quarter. Bfsg LLC grew its position in shares of Warner Bros. Discovery by 11.2% during the 2nd quarter. Bfsg LLC now owns 156,906 shares of the company’s stock worth $1,798,000 after buying an additional 15,786 shares during the period. Country Club Bank increased its stake in shares of Warner Bros. Discovery by 54.3% in the 2nd quarter. Country Club Bank now owns 502,878 shares of the company’s stock valued at $5,683,000 after acquiring an additional 176,994 shares in the last quarter. Kingstone Capital Partners Texas LLC acquired a new position in shares of Warner Bros. Discovery during the 2nd quarter valued at $4,089,000. Finally, Mn Services Vermogensbeheer B.V. boosted its stake in Warner Bros. Discovery by 4.3% during the second quarter. Mn Services Vermogensbeheer B.V. now owns 878,600 shares of the company’s stock worth $10,069,000 after acquiring an additional 36,100 shares in the last quarter. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Bruce Campbell sold 289,322 shares of the company’s stock in a transaction on 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 in the company, valued at $6,632,606.72. This represents a 41.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Anton J. Levy bought 250,000 shares of the stock in a transaction dated Monday, August 11th. The stock was purchased at an average price of $10.90 per share, with a total value of $2,725,000.00. Following the acquisition, the director owned 874,000 shares of the company’s stock, valued at $9,526,600. The trade was a 40.06% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold 1,192,325 shares of company stock valued at $22,818,215 in the last three months. 1.80% of the stock is currently owned by insiders.

Warner Bros. Discovery Stock Performance

Shares of WBD opened at $22.67 on Friday. The firm has a market capitalization of $56.13 billion, a P/E ratio of 75.57, a P/E/G ratio of 2.56 and a beta of 1.73. Warner Bros. Discovery, Inc. has a 52 week low of $7.52 and a 52 week high of $23.06. The stock has a 50 day moving average price of $18.44 and a two-hundred day moving average price of $13.43. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.04 and a current ratio of 1.04.

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

Analysts Set New Price Targets

WBD has been the subject of several research analyst reports. Rothschild Redb raised shares of Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 30th. Moffett Nathanson boosted their target price on Warner Bros. Discovery from $23.00 to $26.00 and gave the company a “buy” rating in a research report on Friday. Deutsche Bank Aktiengesellschaft upped their price target on Warner Bros. Discovery from $19.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, October 22nd. Seaport Global Securities raised their price objective on Warner Bros. Discovery from $15.00 to $24.00 and gave the company a “buy” rating in a research note on Friday, October 3rd. Finally, Arete upped their target price on Warner Bros. Discovery from $24.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, October 28th. Three investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and fourteen have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $20.86.

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.