Patriot Financial Group Insurance Agency LLC Buys 3,379 Shares of Warner Bros. Discovery, Inc. $WBD

Patriot Financial Group Insurance Agency LLC lifted its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 14.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 26,846 shares of the company’s stock after acquiring an additional 3,379 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Warner Bros. Discovery were worth $308,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the stock. ASR Vermogensbeheer N.V. boosted its stake in shares of Warner Bros. Discovery by 66.4% during the 2nd quarter. ASR Vermogensbeheer N.V. now owns 242,580 shares of the company’s stock worth $2,780,000 after acquiring an additional 96,835 shares in the last quarter. Parkside Investments LLC lifted its position in shares of Warner Bros. Discovery by 0.3% during the 2nd quarter. Parkside Investments LLC now owns 346,654 shares of the company’s stock worth $3,973,000 after purchasing an additional 1,000 shares during the last quarter. V Square Quantitative Management LLC lifted its position in shares of Warner Bros. Discovery by 217.3% during the 2nd quarter. V Square Quantitative Management LLC now owns 83,675 shares of the company’s stock worth $959,000 after purchasing an additional 57,307 shares during the last quarter. Guardian Investment Management lifted its position in shares of Warner Bros. Discovery by 9.4% during the 2nd quarter. Guardian Investment Management now owns 91,703 shares of the company’s stock worth $1,051,000 after purchasing an additional 7,856 shares during the last quarter. Finally, Avior Wealth Management LLC lifted its position in shares of Warner Bros. Discovery by 8.8% during the 2nd quarter. Avior Wealth Management LLC now owns 14,545 shares of the company’s stock worth $167,000 after purchasing an additional 1,176 shares during the last quarter. Institutional investors own 59.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on WBD. Weiss Ratings reissued a “sell (d+)” rating on shares of Warner Bros. Discovery in a research report on Saturday, September 27th. Seaport Global Securities boosted their price objective on Warner Bros. Discovery from $15.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday. TD Cowen reissued a “hold” rating and set a $14.00 price objective on shares of Warner Bros. Discovery in a research report on Tuesday, September 16th. Moffett Nathanson boosted their price objective on Warner Bros. Discovery from $14.00 to $23.00 and gave the stock a “buy” rating in a research report on Monday, September 22nd. Finally, Wells Fargo & Company upped their price target on Warner Bros. Discovery from $13.00 to $14.00 and gave the company an “equal weight” rating in a report on Thursday, September 11th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $15.14.

Insider Activity

In other Warner Bros. Discovery news, Director Anton J. Levy purchased 75,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 12th. The shares were acquired at an average cost of $11.00 per share, for a total transaction of $825,000.00. Following the transaction, the director directly owned 949,000 shares in the company, valued at approximately $10,439,000. The trade was a 8.58% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CFO Gunnar Wiedenfels sold 530,793 shares of the 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 approximately $22,252,425. This trade represents a 31.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety 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 Trading Down 1.3%

WBD stock opened at $18.99 on Friday. Warner Bros. Discovery, Inc. has a 1-year low of $7.25 and a 1-year high of $20.24. The firm has a market cap of $47.01 billion, a P/E ratio of 63.30, a P/E/G ratio of 2.43 and a beta of 1.73. The business’s 50 day moving average is $14.45 and its 200-day moving average is $11.54. 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 released its quarterly earnings data on Thursday, August 7th. The company reported $0.63 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $9.81 billion for the quarter, compared to analyst estimates of $9.73 billion. During the same period in the prior year, the company posted ($4.07) EPS. The company’s revenue was up 1.0% compared to the same quarter last year. Equities analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 earnings per share 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.