D.A. Davidson & CO. Has $133,000 Holdings in Warner Bros. Discovery, Inc. $WBD

D.A. Davidson & CO. lessened its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 84.9% in the second quarter, according to its most recent filing with the SEC. The firm owned 11,645 shares of the company’s stock after selling 65,418 shares during the quarter. D.A. Davidson & CO.’s holdings in Warner Bros. Discovery were worth $133,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Warner Bros. Discovery by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 256,820,031 shares of the company’s stock worth $2,755,679,000 after buying an additional 4,169,240 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Warner Bros. Discovery by 2.1% during the 1st quarter. Invesco Ltd. now owns 43,341,297 shares of the company’s stock worth $465,052,000 after buying an additional 873,869 shares in the last quarter. Sessa Capital IM L.P. boosted its holdings in shares of Warner Bros. Discovery by 4.0% during the 1st quarter. Sessa Capital IM L.P. now owns 29,555,277 shares of the company’s stock worth $317,128,000 after buying an additional 1,144,849 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Warner Bros. Discovery by 4.5% during the 1st quarter. The Manufacturers Life Insurance Company now owns 24,672,364 shares of the company’s stock worth $264,734,000 after buying an additional 1,063,535 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Warner Bros. Discovery by 1.9% during the 1st quarter. Northern Trust Corp now owns 23,427,661 shares of the company’s stock worth $251,379,000 after buying an additional 430,787 shares in the last quarter. Institutional investors and hedge funds own 59.95% of the company’s stock.

Warner Bros. Discovery Price Performance

Shares of WBD opened at $22.45 on Friday. Warner Bros. Discovery, Inc. has a 12-month low of $7.52 and a 12-month high of $22.56. The business’s fifty day moving average is $17.38 and its 200 day moving average is $12.92. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.92. The stock has a market cap 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.

Warner Bros. Discovery (NASDAQ:WBD) last issued its earnings results on Thursday, August 7th. The company reported $0.63 earnings per share (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 company had revenue of $9.81 billion for the quarter, compared to analysts’ expectations of $9.73 billion. During the same period last year, the business earned ($4.07) EPS. Warner Bros. Discovery’s quarterly revenue was up 1.0% compared to the same quarter last year. Sell-side analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Anton J. Levy acquired 250,000 shares of the company’s stock in a transaction on Monday, August 11th. The shares were acquired at an average cost of $10.90 per share, for a total transaction of $2,725,000.00. Following the purchase, the director owned 874,000 shares in the company, valued at approximately $9,526,600. The trade was a 40.06% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Gunnar Wiedenfels sold 530,793 shares of the firm’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $19.50, for a total value of $10,350,463.50. Following the transaction, 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 is available in the SEC filing. Insiders have sold a total of 970,115 shares of company stock worth $17,818,490 in the last ninety days. Corporate insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Barrington Research increased their price target on Warner Bros. Discovery from $16.00 to $25.00 and gave the stock an “outperform” rating in a report on Tuesday. Singular Research raised Warner Bros. Discovery to a “moderate buy” rating in a research report on Wednesday, October 22nd. Barclays set a $20.00 target price on Warner Bros. Discovery in a research report on Wednesday, October 8th. Redburn Partners set a $28.00 target price on Warner Bros. Discovery in a research report on Thursday. Finally, Raymond James Financial boosted their target price on Warner Bros. Discovery from $13.00 to $22.00 and gave the company an “outperform” rating in a research report on Thursday, October 2nd. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and fifteen have given a Hold rating to the stock. Based on data from MarketBeat.com, Warner Bros. Discovery has a consensus rating of “Moderate Buy” and an average price target of $19.91.

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.