Forsta AP Fonden Has $5.46 Million Position in Warner Bros. Discovery, Inc. $WBD

Forsta AP Fonden raised its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 4.1% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 476,469 shares of the company’s stock after buying an additional 18,600 shares during the period. Forsta AP Fonden’s holdings in Warner Bros. Discovery were worth $5,460,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Summit Investment Advisors Inc. raised its holdings in Warner Bros. Discovery by 0.8% during the 1st quarter. Summit Investment Advisors Inc. now owns 101,522 shares of the company’s stock worth $1,089,000 after purchasing an additional 795 shares during the last quarter. Premier Path Wealth Partners LLC raised its position in shares of Warner Bros. Discovery by 0.6% during the 2nd quarter. Premier Path Wealth Partners LLC now owns 134,943 shares of the company’s stock valued at $1,546,000 after acquiring an additional 857 shares during the last quarter. Eastern Bank lifted its stake in shares of Warner Bros. Discovery by 11.6% in the 2nd quarter. Eastern Bank now owns 8,452 shares of the company’s stock valued at $97,000 after purchasing an additional 879 shares during the period. Holistic Financial Partners grew its stake in shares of Warner Bros. Discovery by 5.2% during the second quarter. Holistic Financial Partners now owns 18,209 shares of the company’s stock worth $209,000 after purchasing an additional 898 shares during the period. Finally, Parkside Financial Bank & Trust increased its holdings in Warner Bros. Discovery by 12.4% in the second quarter. Parkside Financial Bank & Trust now owns 8,164 shares of the company’s stock valued at $94,000 after purchasing an additional 899 shares during the last quarter. Institutional investors own 59.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Sanford C. Bernstein increased their price target on shares of Warner Bros. Discovery from $16.00 to $23.50 in a research report on Friday, November 7th. 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 report on Friday, November 7th. Raymond James Financial lifted their price target on shares of Warner Bros. Discovery from $22.00 to $25.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. Morgan Stanley upped their price objective on Warner Bros. Discovery from $13.00 to $15.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 25th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Warner Bros. Discovery in a research note on Thursday. Three investment 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 issued a Sell rating to the company’s stock. According to data from MarketBeat, Warner Bros. Discovery currently has an average rating of “Moderate Buy” and a consensus price target of $21.92.

Insiders Place Their Bets

In related news, insider Bruce Campbell sold 289,322 shares of the company’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $16.48, for a total transaction of $4,768,026.56. Following 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Gunnar Wiedenfels sold 530,793 shares of Warner Bros. Discovery 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 completion of 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 1,192,325 shares of company stock valued at $22,818,215 in the last three months. 1.90% of the stock is owned by insiders.

Warner Bros. Discovery Price Performance

Shares of WBD stock opened at $23.03 on Friday. The business has a fifty day simple moving average of $19.53 and a 200 day simple moving average of $13.92. Warner Bros. Discovery, Inc. has a twelve month low of $7.52 and a twelve month high of $23.19. 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 $57.02 billion, a P/E ratio of 76.77, a P/E/G ratio of 2.56 and a beta of 1.74.

Warner Bros. Discovery (NASDAQ:WBD) last issued 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). The firm had revenue of $9.05 billion during the quarter, compared to analyst estimates of $9.17 billion. Warner Bros. Discovery had a return on equity of 2.14% and a net margin of 2.00%.Warner Bros. Discovery’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.05 EPS. On average, sell-side analysts forecast 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.