MassMutual Private Wealth & Trust FSB Lowers Stock Holdings in Warner Bros. Discovery, Inc. $WBD

MassMutual Private Wealth & Trust FSB reduced its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 20.8% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 10,294 shares of the company’s stock after selling 2,703 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in Warner Bros. Discovery were worth $118,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Salem Investment Counselors Inc. boosted its position in Warner Bros. Discovery by 4.3% during the 2nd quarter. Salem Investment Counselors Inc. now owns 85,477 shares of the company’s stock worth $980,000 after purchasing an additional 3,535 shares during the period. Douglas Lane & Associates LLC raised its stake in shares of Warner Bros. Discovery by 1.2% in the 2nd quarter. Douglas Lane & Associates LLC now owns 1,778,592 shares of the company’s stock valued at $20,383,000 after purchasing an additional 21,303 shares in the last quarter. AG2R LA Mondiale Gestion D Actifs acquired a new stake in shares of Warner Bros. Discovery in the 1st quarter valued at about $988,000. Voya Investment Management LLC grew its position in shares of Warner Bros. Discovery by 34.9% during the 1st quarter. Voya Investment Management LLC now owns 7,035,842 shares of the company’s stock valued at $75,495,000 after buying an additional 1,820,249 shares during the last quarter. Finally, Strs Ohio bought a new stake in shares of Warner Bros. Discovery during the 1st quarter valued at about $13,670,000. 59.95% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Warner Bros. Discovery

In other Warner Bros. Discovery news, insider Bruce Campbell sold 150,000 shares of the company’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $18.00, for a total value of $2,700,000.00. Following the transaction, the insider directly owned 252,464 shares in the company, valued at $4,544,352. The trade was a 37.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Anton J. Levy purchased 75,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 12th. The stock was acquired at an average price of $11.00 per share, for a total transaction of $825,000.00. Following the completion of the purchase, the director directly owned 949,000 shares of the company’s stock, valued at $10,439,000. This represents a 8.58% increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 970,115 shares of company stock valued at $17,818,490 over the last 90 days. 1.90% of the stock is owned by corporate insiders.

Warner Bros. Discovery Stock Up 3.4%

Shares of NASDAQ:WBD opened at $19.33 on Friday. Warner Bros. Discovery, Inc. has a one year low of $7.25 and a one year high of $19.59. The company has a 50 day moving average of $13.13 and a 200-day moving average of $10.92. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a market cap of $47.86 billion, a price-to-earnings ratio of 64.44, a P/E/G ratio of 2.49 and a beta of 1.59.

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, topping the consensus estimate of ($0.16) by $0.79. Warner Bros. Discovery had a net margin of 2.00% and a return on equity of 2.14%. The business had revenue of $9.81 billion for the quarter, compared to analyst estimates of $9.73 billion. During the same quarter last year, the firm earned ($4.07) EPS. Warner Bros. Discovery’s quarterly revenue was up 1.0% compared to the same quarter last year. On average, sell-side analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Wells Fargo & Company upped their target price on shares of Warner Bros. Discovery from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 11th. KeyCorp cut their target price on shares of Warner Bros. Discovery from $18.00 to $16.00 and set an “overweight” rating for the company in a research note on Friday, August 8th. Cowen lowered shares of Warner Bros. Discovery from a “buy” rating to a “hold” rating in a research note on Tuesday. Guggenheim restated a “buy” rating on shares of Warner Bros. Discovery in a research report on Tuesday, June 10th. Finally, Barclays upped their price target on shares of Warner Bros. Discovery from $9.00 to $13.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 9th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and thirteen have given a Hold rating to the company. According to MarketBeat, Warner Bros. Discovery presently has an average rating of “Hold” and an average price target of $13.25.

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.