Evelyn Partners Investment Management LLP Boosts Stock Position in Warner Bros. Discovery, Inc. $WBD

Evelyn Partners Investment Management LLP increased its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 556,600.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,567 shares of the company’s stock after acquiring an additional 5,566 shares during the quarter. Evelyn Partners Investment Management LLP’s holdings in Warner Bros. Discovery were worth $64,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AXQ Capital LP increased its stake in shares of Warner Bros. Discovery by 208.1% in the second quarter. AXQ Capital LP now owns 101,061 shares of the company’s stock worth $1,158,000 after purchasing an additional 68,255 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of Warner Bros. Discovery by 6.4% during the 2nd quarter. Legal & General Group Plc now owns 13,415,990 shares of the company’s stock valued at $153,747,000 after buying an additional 812,267 shares in the last quarter. Neo Ivy Capital Management boosted its holdings in Warner Bros. Discovery by 3.8% in the 2nd quarter. Neo Ivy Capital Management now owns 130,814 shares of the company’s stock worth $1,499,000 after buying an additional 4,842 shares during the period. DNB Asset Management AS increased its stake in Warner Bros. Discovery by 10.1% in the 2nd quarter. DNB Asset Management AS now owns 436,562 shares of the company’s stock worth $5,003,000 after buying an additional 40,046 shares in the last quarter. Finally, Swiss National Bank increased its stake in Warner Bros. Discovery by 8.2% in the 2nd quarter. Swiss National Bank now owns 7,114,027 shares of the company’s stock worth $81,527,000 after buying an additional 540,900 shares in the last quarter. Institutional investors own 59.95% of the company’s stock.

Insider Activity

In other Warner Bros. Discovery news, CFO Gunnar Wiedenfels sold 222,210 shares of the company’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $22.50, for a total transaction of $4,999,725.00. Following the sale, the chief financial officer directly owned 918,940 shares in the company, valued at $20,676,150. This represents a 19.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Bruce Campbell sold 150,000 shares of Warner Bros. Discovery stock in a transaction that occurred on Friday, September 12th. The stock was 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 owned 252,464 shares of the company’s stock, valued at approximately $4,544,352. This trade represents a 37.27% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,192,325 shares of company stock worth $22,818,215 over the last 90 days. Corporate insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. The Goldman Sachs Group upped their price objective on Warner Bros. Discovery from $13.00 to $14.75 and gave the stock a “buy” rating in a research note on Friday, November 7th. Singular Research upgraded Warner Bros. Discovery to a “moderate buy” rating in a research note on Wednesday, October 22nd. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Warner Bros. Discovery from $23.00 to $26.00 and gave the company a “buy” rating in a report on Thursday, November 13th. Redburn Partners set a $28.00 target price on shares of Warner Bros. Discovery in a report on Thursday, October 30th. Finally, Guggenheim raised their target price 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. Three analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $21.92.

Warner Bros. Discovery Stock Up 1.3%

NASDAQ WBD opened at $23.17 on Friday. The stock has a 50 day moving average price of $20.40 and a 200-day moving average price of $14.47. Warner Bros. Discovery, Inc. has a one year low of $7.52 and a one year high of $24.19. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market capitalization of $57.41 billion, a P/E ratio of 77.24, a P/E/G ratio of 2.56 and a beta of 1.74.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly 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 net margin of 2.00% and a return on equity of 2.14%. The business 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 company earned $0.05 EPS. Warner Bros. Discovery’s revenue for the quarter was down 6.0% compared to the same quarter last year. As a group, equities analysts predict that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal 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.