Ally Financial Inc. purchased a new stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 168,132 shares of the company's stock, valued at approximately $4,482,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Compass Financial Management LLC bought a new position in shares of Warner Bros. Discovery during the 2nd quarter worth approximately $66,000. Westport Asset Management Inc. acquired a new stake in Warner Bros. Discovery in the 2nd quarter valued at $1,861,000. Commerzbank Aktiengesellschaft FI acquired a new stake in Warner Bros. Discovery in the 2nd quarter valued at $319,000. Trust Co. of Vermont bought a new stake in Warner Bros. Discovery during the 2nd quarter worth about $186,000. Finally, Plato Investment Management Ltd bought a new position in shares of Warner Bros. Discovery in the 2nd quarter valued at about $407,000. 59.95% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on WBD. UBS Group upped their price objective on Warner Bros. Discovery from $30.00 to $31.00 and gave the stock a "neutral" rating in a research note on Thursday, May 7th. Huber Research raised shares of Warner Bros. Discovery from an "underweight" rating to an "overweight" rating in a report on Monday, June 1st. Seaport Research Partners downgraded shares of Warner Bros. Discovery from a "buy" rating to a "neutral" rating in a research note on Monday, July 27th. Weiss Ratings upgraded Warner Bros. Discovery from a "sell (d-)" rating to a "sell (d+)" rating in a report on Tuesday, August 18th. Finally, Freedom Capital upgraded Warner Bros. Discovery from a "hold" rating to a "strong-buy" rating in a report on Monday, August 10th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, Warner Bros. Discovery currently has a consensus rating of "Hold" and a consensus price target of $27.69.
View Our Latest Stock Analysis on Warner Bros. Discovery
Insider Buying and Selling at Warner Bros. Discovery
In other news, Director Fazal F. Merchant sold 71,539 shares of Warner Bros. Discovery stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $27.75, for a total value of $1,985,207.25. Following the completion of the sale, the director directly owned 33,067 shares in the company, valued at approximately $917,609.25. The trade was a 68.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David Zaslav sold 194,999 shares of Warner Bros. Discovery stock in a transaction on Friday, August 14th. The shares were sold at an average price of $28.02, for a total value of $5,463,871.98. Following the completion of the transaction, the chief executive officer directly owned 6,807,934 shares of the company's stock, valued at $190,758,310.68. This represents a 2.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,750,749 shares of company stock valued at $48,329,633 in the last three months. Corporate insiders own 0.70% of the company's stock.
Warner Bros. Discovery Stock Performance
Shares of WBD stock opened at $28.55 on Monday. Warner Bros. Discovery, Inc. has a 12-month low of $11.25 and a 12-month high of $30.00. The company has a market capitalization of $71.68 billion, a PE ratio of -22.48 and a beta of 1.55. The firm has a 50 day moving average price of $26.71 and a two-hundred day moving average price of $27.18. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.90.
Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.20. The business had revenue of $8.72 billion during the quarter, compared to analysts' expectations of $9.25 billion. Warner Bros. Discovery had a negative return on equity of 8.91% and a negative net margin of 8.77%.The firm's revenue for the quarter was down 11.2% compared to the same quarter last year. During the same period last year, the firm posted $0.63 EPS. As a group, analysts predict that Warner Bros. Discovery, Inc. will post -1.11 earnings per share for the current year.
About Warner Bros. Discovery
(
Free Report)
Warner Bros. Discovery NASDAQ: WBD is a global media and entertainment company formed when WarnerMedia and Discovery, Inc combined their businesses in 2022. Headquartered in New York City, the company assembles a broad portfolio of film and television production, linear and cable networks, streaming services and consumer distribution operations. Its assets span well-known studio brands, premium scripted and unscripted programming, news and factual entertainment, and licensed franchise properties.
The company's core activities include film and television production and distribution through units such as Warner Bros.
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Want to see what other hedge funds are holding WBD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report).
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