Mesirow Financial Investment Management Inc. Trims Holdings in Warner Bros. Discovery, Inc. $WBD

Mesirow Financial Investment Management Inc. cut its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 8.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,647 shares of the company’s stock after selling 3,378 shares during the quarter. Mesirow Financial Investment Management Inc.’s holdings in Warner Bros. Discovery were worth $397,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. WPG Advisers LLC purchased a new stake in shares of Warner Bros. Discovery in the 1st quarter worth about $26,000. Financial Gravity Asset Management Inc. purchased a new stake in shares of Warner Bros. Discovery in the 1st quarter worth about $27,000. North Capital Inc. purchased a new stake in shares of Warner Bros. Discovery in the 1st quarter worth about $28,000. Trifecta Capital Advisors LLC purchased a new stake in shares of Warner Bros. Discovery in the 2nd quarter worth about $34,000. Finally, N.E.W. Advisory Services LLC purchased a new stake in shares of Warner Bros. Discovery in the 1st quarter worth about $36,000. 59.95% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Warner Bros. Discovery

In other Warner Bros. Discovery news, insider Bruce Campbell sold 289,322 shares of the company’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $16.48, for a total transaction of $4,768,026.56. Following the transaction, the insider owned 402,464 shares in the company, valued at approximately $6,632,606.72. This represents a 41.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Anton J. Levy bought 250,000 shares of the stock in a transaction on Monday, August 11th. The shares were bought at an average price of $10.90 per share, for a total transaction of $2,725,000.00. Following the purchase, the director directly owned 874,000 shares in the company, valued at approximately $9,526,600. This trade represents a 40.06% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have sold 970,115 shares of company stock worth $17,818,490. Company insiders own 1.90% of the company’s stock.

Warner Bros. Discovery Price Performance

WBD opened at $22.45 on Friday. 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 stock has a market capitalization of $55.58 billion, a P/E ratio of 74.84, a P/E/G ratio of 2.56 and a beta of 1.73. The company’s 50-day simple moving average is $17.38 and its two-hundred day simple moving average is $12.96. Warner Bros. Discovery, Inc. has a 52-week low of $7.52 and a 52-week high of $22.56.

Warner Bros. Discovery (NASDAQ:WBD) last posted its earnings results on Thursday, August 7th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.79. The business had revenue of $9.81 billion for the quarter, compared to analysts’ expectations of $9.73 billion. Warner Bros. Discovery had a net margin of 2.00% and a return on equity of 2.14%. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($4.07) EPS. As a group, analysts predict that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on WBD. Rothschild Redb raised shares of Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a research report on Thursday. Arete Research upgraded shares of Warner Bros. Discovery to a “strong-buy” rating in a research note on Tuesday, October 28th. Guggenheim upped their price target on shares of Warner Bros. Discovery from $14.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Wells Fargo & Company upped their price target on shares of Warner Bros. Discovery from $14.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 16th. Finally, Singular Research upgraded shares of Warner Bros. Discovery to a “moderate buy” rating in a research note on Wednesday, October 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and fifteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $19.91.

Warner Bros. Discovery 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.