Czech National Bank Raises Holdings in Warner Bros. Discovery, Inc. $WBD

Czech National Bank increased its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 14.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 628,959 shares of the company’s stock after purchasing an additional 78,635 shares during the period. Czech National Bank’s holdings in Warner Bros. Discovery were worth $12,284,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. WPG Advisers LLC acquired a new position in Warner Bros. Discovery during the first quarter worth approximately $26,000. Financial Gravity Companies Inc. acquired a new stake in shares of Warner Bros. Discovery in the second quarter valued at approximately $29,000. Grove Bank & Trust grew its position in shares of Warner Bros. Discovery by 66.5% during the third quarter. Grove Bank & Trust now owns 1,690 shares of the company’s stock worth $33,000 after acquiring an additional 675 shares during the last quarter. Trifecta Capital Advisors LLC purchased a new position in shares of Warner Bros. Discovery during the second quarter worth approximately $34,000. Finally, Elevation Point Wealth Partners LLC acquired a new position in shares of Warner Bros. Discovery in the 2nd quarter valued at $44,000. 59.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WBD has been the subject of a number of recent research reports. Raymond James Financial increased their price target on shares of Warner Bros. Discovery from $22.00 to $25.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th. TD Cowen upped their target price on shares of Warner Bros. Discovery from $14.00 to $22.00 in a report on Friday, November 7th. Argus set a $28.00 target price on shares of Warner Bros. Discovery in a research note on Monday, December 8th. UBS Group raised their price target on Warner Bros. Discovery from $10.00 to $20.00 and gave the stock a “neutral” rating in a report on Monday, October 6th. Finally, Wells Fargo & Company upped their price objective on Warner Bros. Discovery from $21.00 to $25.00 and gave the company an “equal weight” rating in a research note on Friday, November 7th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.22.

Insider Buying and Selling

In other Warner Bros. Discovery news, CFO Gunnar Wiedenfels sold 242,994 shares of the company’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $29.50, for a total transaction of $7,168,323.00. Following the transaction, the chief financial officer directly owned 918,940 shares in the company, valued at approximately $27,108,730. This represents a 20.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Lori C. Locke sold 4,122 shares of the business’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $28.92, for a total value of $119,208.24. Following the sale, the chief accounting officer directly owned 100,962 shares in the company, valued at $2,919,821.04. This trade represents a 3.92% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 489,326 shares of company stock worth $12,781,456. Company insiders own 1.90% of the company’s stock.

Warner Bros. Discovery Stock Down 2.1%

Shares of NASDAQ:WBD opened at $27.61 on Friday. Warner Bros. Discovery, Inc. has a fifty-two week low of $7.52 and a fifty-two week high of $30.00. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.90. The firm’s 50-day simple moving average is $23.17 and its 200-day simple moving average is $16.69. The company has a market cap of $68.42 billion, a price-to-earnings ratio of 145.32 and a beta of 1.60.

Warner Bros. Discovery (NASDAQ:WBD) last announced 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). Warner Bros. Discovery had a net margin of 1.28% and a return on equity of 1.34%. The firm had revenue of $9.05 billion during the quarter, compared to analyst estimates of $9.17 billion. During the same quarter in the previous year, the business earned $0.05 EPS. Warner Bros. Discovery’s revenue for the quarter was down 6.0% on a year-over-year basis. As a group, equities research analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

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.