353,949 Shares in Warner Bros. Discovery, Inc. $WBD Purchased by Nykredit A S

Key Points

• Nykredit A S acquired 353,949 Warner Bros. Discovery shares in the second quarter, valued at approximately $9.4 million. Institutional investors collectively own 59.95% of WBD.
• Several insiders sold shares recently, including Director Anton J. Levy and CEO David Zaslav; insiders have sold 2.78 million shares worth roughly $77.5 million over the past 90 days.
• WBD reported quarterly EPS of $0.06, beating estimates, but revenue fell 11.2% year over year to $8.72 billion. Analysts maintain a consensus “Hold” rating with an average price target of $28.22.

Nykredit A S acquired a new stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 353,949 shares of the company's stock, valued at approximately $9,436,000.

Other institutional investors also recently modified their holdings of the company. Amundi raised its position in shares of Warner Bros. Discovery by 11.2% during the second quarter. Amundi now owns 16,324,591 shares of the company's stock worth $435,214,000 after acquiring an additional 1,640,916 shares during the last quarter. HighTower Advisors LLC boosted its holdings in Warner Bros. Discovery by 1.5% in the second quarter. HighTower Advisors LLC now owns 286,042 shares of the company's stock valued at $7,626,000 after acquiring an additional 4,157 shares during the last quarter. Readystate Asset Management LP increased its position in Warner Bros. Discovery by 132.1% in the second quarter. Readystate Asset Management LP now owns 3,851,600 shares of the company's stock worth $102,684,000 after purchasing an additional 2,191,929 shares during the period. Ameritas Advisory Services LLC acquired a new stake in Warner Bros. Discovery in the second quarter worth about $208,000. Finally, HB Wealth Management LLC raised its holdings in Warner Bros. Discovery by 5.8% during the 2nd quarter. HB Wealth Management LLC now owns 313,861 shares of the company's stock worth $8,371,000 after purchasing an additional 17,264 shares during the last quarter. 59.95% of the stock is owned by institutional investors.

Insider Activity at Warner Bros. Discovery

In related news, Director Anton J. Levy sold 340,000 shares of the stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $28.39, for a total transaction of $9,652,600.00. Following the completion of the sale, the director directly owned 618,067 shares of the company's stock, valued at approximately $17,546,922.13. This represents a 35.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David Zaslav sold 194,999 shares of the firm's stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $28.02, for a total transaction of $5,463,871.98. Following the sale, the chief executive officer owned 6,807,934 shares in the company, valued at $190,758,310.68. This trade represents a 2.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 2,782,149 shares of company stock valued at $77,455,972 over the last 90 days. Insiders own 0.70% of the company's stock.

Warner Bros. Discovery Price Performance

Shares of WBD stock opened at $27.80 on Monday. Warner Bros. Discovery, Inc. has a 12-month low of $17.08 and a 12-month high of $30.00. The firm has a market capitalization of $69.80 billion, a price-to-earnings ratio of -21.89 and a beta of 1.57. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.90. The firm has a fifty day moving average of $27.40 and a 200-day moving average of $27.21.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.06 EPS for the quarter, beating analysts' consensus estimates of ($0.14) by $0.20. Warner Bros. Discovery had a negative net margin of 8.77% and a negative return on equity of 8.91%. The business had revenue of $8.72 billion during the quarter, compared to analysts' expectations of $9.25 billion. During the same quarter in the prior year, the company earned $0.63 EPS. The firm's quarterly revenue was down 11.2% on a year-over-year basis. On average, equities research analysts forecast that Warner Bros. Discovery, Inc. will post -1.08 earnings per share for the current year.

Trending Headlines about Warner Bros. Discovery

Here are the key news stories impacting Warner Bros. Discovery this week:

• Positive Sentiment: The Federal Communications Commission approved foreign investment of up to 49.5% in the Paramount Skydance-backed acquisition of Warner Bros. Discovery. The decision removes a significant foreign-ownership hurdle and improves the probability that the proposed transaction will proceed, although additional regulatory and legal approvals remain. US FCC approves foreign investment in Paramount Warner merger deal
• Neutral Sentiment: Barclays initiated coverage of WBD with an “equal weight” rating and a $29 price target, implying limited upside from recent trading levels. The firm reportedly highlighted deleveraging and restructuring risks associated with the roughly $110 billion merger. Barclays flags deleveraging and restructuring risks in Paramount-WBD merger
• Negative Sentiment: California’s attorney general said the Paramount-WBD transaction could harm the state’s video market, adding to opposition from policymakers. Separately, reports that Paramount is considering leaving California underscore the political and legal tensions surrounding the deal and raise the risk of delays or a failed transaction. California attorney general says Paramount deal would hurt the state
• Negative Sentiment: Warner Bros. Discovery Chief Accounting Officer Lori Locke sold 29,115 shares for approximately $819,000, reducing her direct ownership by about 25%. The insider transaction is a modest sentiment negative, though it does not by itself signal a change in the company’s fundamentals. Warner Bros. Discovery insider transaction filing

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on WBD. Barclays started coverage on shares of Warner Bros. Discovery in a research report on Thursday. They set an "equal weight" rating and a $29.00 target price on the stock. Zacks Research raised shares of Warner Bros. Discovery from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 25th. Weiss Ratings raised shares of Warner Bros. Discovery from a "sell (d-)" rating to a "sell (d+)" rating in a report on Tuesday, August 18th. Huber Research upgraded shares of Warner Bros. Discovery from an "underweight" rating to an "overweight" rating in a research report on Monday, June 1st. Finally, Freedom Capital raised Warner Bros. Discovery from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 10th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $28.22.

Warner Bros. Discovery Company Profile

Warner Bros. Discovery, Inc is a global media and entertainment company that develops, produces and distributes television, film and digital content. Its portfolio includes Warner Bros. film and television studios, HBO, CNN, Discovery, TLC, HGTV, Food Network, TNT Sports and other well-known brands.

The company operates streaming services including Max, which features HBO programming, Warner Bros. films, original series and other entertainment content, and discovery+, which focuses on lifestyle, documentary and nonfiction programming.

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