Allspring Global Investments Holdings LLC Boosts Stock Position in Warner Bros. Discovery, Inc. $WBD

Allspring Global Investments Holdings LLC boosted its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 3.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 103,810 shares of the company’s stock after purchasing an additional 3,781 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Warner Bros. Discovery were worth $1,136,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. WPG Advisers LLC bought a new stake in shares of Warner Bros. Discovery in the 1st quarter worth about $26,000. Financial Gravity Asset Management Inc. bought a new position in shares of Warner Bros. Discovery in the 1st quarter valued at about $27,000. North Capital Inc. bought a new stake in Warner Bros. Discovery during the first quarter worth approximately $28,000. Smallwood Wealth Investment Management LLC purchased a new stake in Warner Bros. Discovery during the first quarter valued at approximately $29,000. Finally, Golden State Wealth Management LLC lifted its stake in shares of Warner Bros. Discovery by 448.0% in the 1st quarter. Golden State Wealth Management LLC now owns 2,877 shares of the company’s stock valued at $31,000 after purchasing an additional 2,352 shares during the last quarter. Institutional investors own 59.95% of the company’s stock.

Insider Buying and Selling at Warner Bros. Discovery

In related news, CFO Gunnar Wiedenfels sold 530,793 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $19.50, for a total transaction of $10,350,463.50. Following the completion of the transaction, the chief financial officer owned 1,141,150 shares in the company, valued at $22,252,425. The trade was a 31.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Anton J. Levy bought 250,000 shares of the firm’s stock in a transaction that occurred on Monday, August 11th. The shares were purchased at an average cost of $10.90 per share, with a total value of $2,725,000.00. Following the transaction, the director directly owned 874,000 shares of the company’s stock, valued at $9,526,600. The trade was a 40.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 970,115 shares of company stock worth $17,818,490 over the last quarter. Insiders own 1.90% of the company’s stock.

Warner Bros. Discovery Stock Up 1.0%

Shares of Warner Bros. Discovery stock opened at $20.53 on Thursday. 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 $50.83 billion, a price-to-earnings ratio of 68.44, a PEG ratio of 2.48 and a beta of 1.73. The firm’s 50-day moving average is $16.03 and its two-hundred day moving average is $12.26. Warner Bros. Discovery, Inc. has a 1 year low of $7.25 and a 1 year high of $21.22.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings results 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. The firm had revenue of $9.81 billion during 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 company’s revenue was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($4.07) EPS. As a group, research analysts expect that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Sanford C. Bernstein increased their price target on Warner Bros. Discovery from $13.00 to $16.00 and gave the company a “market perform” rating in a report on Monday, September 22nd. TD Cowen restated a “hold” rating and issued a $14.00 target price on shares of Warner Bros. Discovery in a report on Tuesday, September 16th. Morgan Stanley upped their price target on shares of Warner Bros. Discovery from $13.00 to $15.00 and gave the company an “equal weight” rating in a report on Thursday, September 25th. Guggenheim increased their price objective on shares of Warner Bros. Discovery from $14.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Finally, Cowen lowered Warner Bros. Discovery from a “buy” rating to a “hold” rating in a research report on Tuesday, September 16th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and sixteen have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $17.68.

Warner Bros. Discovery Company 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.