Assenagon Asset Management S.A. Boosts Stock Holdings in Warner Bros. Discovery, Inc. $WBD

Assenagon Asset Management S.A. lifted its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 253.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,182,359 shares of the company’s stock after buying an additional 1,565,583 shares during the period. Assenagon Asset Management S.A. owned approximately 0.09% of Warner Bros. Discovery worth $42,621,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in WBD. Voya Investment Management LLC raised its position in shares of Warner Bros. Discovery by 34.9% during the first quarter. Voya Investment Management LLC now owns 7,035,842 shares of the company’s stock worth $75,495,000 after purchasing an additional 1,820,249 shares during the period. Bfsg LLC boosted its position in shares of Warner Bros. Discovery by 11.2% in the 2nd quarter. Bfsg LLC now owns 156,906 shares of the company’s stock valued at $1,798,000 after purchasing an additional 15,786 shares during the period. Penserra Capital Management LLC increased its stake in Warner Bros. Discovery by 29,882.6% in the 2nd quarter. Penserra Capital Management LLC now owns 62,064 shares of the company’s stock worth $710,000 after purchasing an additional 61,857 shares in the last quarter. Country Club Bank increased its stake in Warner Bros. Discovery by 54.3% in the 2nd quarter. Country Club Bank now owns 502,878 shares of the company’s stock worth $5,683,000 after purchasing an additional 176,994 shares in the last quarter. Finally, Kingstone Capital Partners Texas LLC acquired a new stake in Warner Bros. Discovery during the 2nd quarter worth about $4,089,000. 59.95% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Warner Bros. Discovery

In other Warner Bros. Discovery news, CAO Lori C. Locke sold 5,000 shares of the firm’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $27.62, for a total transaction of $138,100.00. Following the transaction, the chief accounting officer directly owned 110,084 shares in the company, valued at $3,040,520.08. This trade represents a 4.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Gunnar Wiedenfels sold 242,994 shares of the business’s stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $29.50, for a total value of $7,168,323.00. Following the completion of the sale, the chief financial officer directly owned 918,940 shares of the company’s stock, valued at $27,108,730. This represents a 20.91% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 489,326 shares of company stock worth $12,781,456. 1.90% of the stock is currently owned by company insiders.

Warner Bros. Discovery Stock Performance

Shares of NASDAQ WBD opened at $27.61 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.07 and a quick ratio of 1.07. Warner Bros. Discovery, Inc. has a one year low of $7.52 and a one year high of $30.00. The business’s 50-day moving average price is $23.17 and its two-hundred day moving average price is $16.69. The company has a market capitalization of $68.42 billion, a P/E ratio of 145.32 and a beta of 1.60.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). The firm had revenue of $9.05 billion during the quarter, compared to analyst estimates of $9.17 billion. Warner Bros. Discovery had a return on equity of 1.34% and a net margin of 1.28%.The company’s quarterly revenue was down 6.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.05 EPS. Analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. UBS Group raised their target price on shares of Warner Bros. Discovery from $10.00 to $20.00 and gave the stock a “neutral” rating in a report on Monday, October 6th. Barclays set a $20.00 price objective on shares of Warner Bros. Discovery in a research report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $29.50 target price on shares of Warner Bros. Discovery in a report on Monday, December 8th. Seaport Global Securities raised their target price on Warner Bros. Discovery from $15.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, October 3rd. Finally, Barrington Research lowered Warner Bros. Discovery from an “outperform” rating to a “hold” rating in a research report on Friday, December 5th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $23.22.

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.