Bank Julius Baer & Co. Ltd Zurich Has $65,000 Stock Position in Warner Bros. Discovery, Inc. $WBD

Bank Julius Baer & Co. Ltd Zurich reduced its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 99.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,629 shares of the company’s stock after selling 3,981,602 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in Warner Bros. Discovery were worth $65,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. WPG Advisers LLC acquired a new stake in shares of Warner Bros. Discovery during the 1st quarter worth approximately $26,000. Financial Gravity Companies Inc. acquired a new stake in Warner Bros. Discovery in the second quarter worth $29,000. Trifecta Capital Advisors LLC acquired a new stake in Warner Bros. Discovery in the second quarter worth $34,000. N.E.W. Advisory Services LLC bought a new stake in Warner Bros. Discovery in the first quarter valued at $36,000. Finally, Zions Bancorporation National Association UT acquired a new position in shares of Warner Bros. Discovery during the first quarter valued at about $42,000. 59.95% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on WBD. Sanford C. Bernstein raised their target price on Warner Bros. Discovery from $16.00 to $23.50 in a research note on Friday, November 7th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Warner Bros. Discovery in a research note on Wednesday, November 19th. Bank of America increased their price target on Warner Bros. Discovery from $16.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, September 30th. The Goldman Sachs Group boosted their price objective on Warner Bros. Discovery from $13.00 to $14.75 and gave the company a “buy” rating in a report on Friday, November 7th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Warner Bros. Discovery from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $21.92.

Warner Bros. Discovery Price Performance

WBD opened at $22.86 on Tuesday. 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 company has a market capitalization of $56.65 billion, a price-to-earnings ratio of 76.20, a P/E/G ratio of 2.56 and a beta of 1.74. The firm’s fifty day moving average price is $20.46 and its two-hundred day moving average price is $14.61. Warner Bros. Discovery, Inc. has a 1 year low of $7.52 and a 1 year high of $24.19.

Warner Bros. Discovery (NASDAQ:WBD) last announced its earnings results on Thursday, November 6th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.02). Warner Bros. Discovery had a net margin of 2.00% and a return on equity of 2.14%. The firm had revenue of $9.05 billion during the quarter, compared to analysts’ expectations of $9.17 billion. During the same quarter in the prior year, the company earned $0.05 EPS. The business’s revenue for the quarter was down 6.0% on a year-over-year basis. As a group, analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Insider Activity

In other Warner Bros. Discovery news, insider Bruce Campbell sold 150,000 shares of Warner Bros. Discovery stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $18.00, for a total transaction of $2,700,000.00. Following the transaction, the insider owned 252,464 shares of the company’s stock, valued at $4,544,352. This trade represents a 37.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Gunnar Wiedenfels sold 222,210 shares of the business’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $22.50, for a total value of $4,999,725.00. Following the completion of the transaction, the chief financial officer owned 918,940 shares in the company, valued at $20,676,150. The trade was a 19.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 1,192,325 shares of company stock valued at $22,818,215. Company insiders own 1.90% of the company’s stock.

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.