Fifth Third Bancorp Raises Position in Warner Bros. Discovery, Inc. $WBD

Fifth Third Bancorp increased its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 3.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 80,668 shares of the company’s stock after acquiring an additional 2,867 shares during the period. Fifth Third Bancorp’s holdings in Warner Bros. Discovery were worth $924,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of WBD. Brighton Jones LLC grew its holdings in shares of Warner Bros. Discovery by 304.9% in the fourth quarter. Brighton Jones LLC now owns 68,950 shares of the company’s stock valued at $729,000 after acquiring an additional 51,920 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Warner Bros. Discovery by 10.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 200,627 shares of the company’s stock valued at $2,121,000 after acquiring an additional 18,552 shares in the last quarter. Central Pacific Bank Trust Division grew its holdings in shares of Warner Bros. Discovery by 9.8% in the first quarter. Central Pacific Bank Trust Division now owns 27,536 shares of the company’s stock valued at $295,000 after acquiring an additional 2,456 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of Warner Bros. Discovery by 225.6% in the first quarter. Versant Capital Management Inc now owns 5,991 shares of the company’s stock valued at $64,000 after acquiring an additional 4,151 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Warner Bros. Discovery by 1,145.2% in the first quarter. GAMMA Investing LLC now owns 492,958 shares of the company’s stock valued at $5,289,000 after acquiring an additional 453,370 shares in the last quarter. 59.95% of the stock is owned by institutional investors.

Warner Bros. Discovery Price Performance

Shares of NASDAQ WBD opened at $19.51 on Monday. Warner Bros. Discovery, Inc. has a 1-year low of $7.25 and a 1-year high of $20.24. The stock has a fifty day simple moving average of $13.85 and a two-hundred day simple moving average of $11.24. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.92. The firm has a market cap of $48.30 billion, a price-to-earnings ratio of 65.04, a price-to-earnings-growth ratio of 2.54 and a beta of 1.59.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $9.81 billion during the quarter, compared to analyst estimates of $9.73 billion. During the same period last year, the company earned ($4.07) earnings per share. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. Analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Insider Transactions at Warner Bros. Discovery

In related news, Director Anton J. Levy purchased 250,000 shares of the business’s stock in a transaction dated Monday, August 11th. The stock was purchased at an average cost of $10.90 per share, with a total value of $2,725,000.00. Following the completion of the acquisition, the director directly owned 874,000 shares of the company’s stock, valued at approximately $9,526,600. The trade was a 40.06% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Gunnar Wiedenfels sold 530,793 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer directly owned 1,141,150 shares of the company’s stock, valued at $22,252,425. The trade was a 31.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 970,115 shares of company stock valued at $17,818,490 over the last three months. Company insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on WBD. Bank of America upped their target price on Warner Bros. Discovery from $14.00 to $16.00 and gave the company a “buy” rating in a report on Tuesday, July 1st. Moffett Nathanson upped their target price on Warner Bros. Discovery from $14.00 to $23.00 and gave the company a “buy” rating in a report on Monday, September 22nd. KeyCorp reissued a “sector weight” rating on shares of Warner Bros. Discovery in a report on Friday. Barclays increased their price objective on Warner Bros. Discovery from $9.00 to $13.00 and gave the company an “equal weight” rating in a report on Wednesday, July 9th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Warner Bros. Discovery in a report on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and fifteen have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $14.07.

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.