Allianz Asset Management GmbH Has $39.58 Million Position in Warner Bros. Discovery, Inc. $WBD

Key Points

• Allianz Asset Management GmbH significantly increased its stake in Warner Bros. Discovery, acquiring 3,263,794 additional shares, bringing its total to 3,453,795 shares worth approximately $39.58 million.
• Director Anton J. Levy purchased 250,000 shares for $2.73 million, while CFO Gunnar Wiedenfels sold 530,793 shares for over $10.3 million, indicating notable insider activity in the company.
• Warner Bros. Discovery's stock has a current market cap of $45.03 billion and recently reported earnings that exceeded estimates, with a quarterly revenue of $9.81 billion.

Allianz Asset Management GmbH boosted its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 1,717.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,453,795 shares of the company's stock after buying an additional 3,263,794 shares during the period. Allianz Asset Management GmbH owned approximately 0.14% of Warner Bros. Discovery worth $39,580,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. WPG Advisers LLC acquired a new position in Warner Bros. Discovery in the first quarter valued at approximately $26,000. Financial Gravity Asset Management Inc. acquired a new stake in Warner Bros. Discovery in the first quarter worth $27,000. North Capital Inc. acquired a new stake in Warner Bros. Discovery in the first quarter worth $28,000. Smallwood Wealth Investment Management LLC acquired a new stake in Warner Bros. Discovery in the first quarter worth $29,000. Finally, Golden State Wealth Management LLC raised its holdings in Warner Bros. Discovery by 448.0% in the first quarter. Golden State Wealth Management LLC now owns 2,877 shares of the company's stock worth $31,000 after purchasing an additional 2,352 shares during the period. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Anton J. Levy acquired 250,000 shares of the firm's stock in a transaction dated Monday, August 11th. The stock was bought at an average price of $10.90 per share, with a total value of $2,725,000.00. Following the transaction, the director directly owned 874,000 shares in the company, valued at approximately $9,526,600. The trade was a 40.06% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Gunnar Wiedenfels sold 530,793 shares of Warner Bros. Discovery stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $19.50, for a total transaction of $10,350,463.50. Following the completion of the transaction, the chief financial officer directly owned 1,141,150 shares of the company's stock, valued at approximately $22,252,425. This trade represents a 31.75% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 970,115 shares of company stock valued at $17,818,490 in the last quarter. Company insiders own 1.90% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on WBD shares. Morgan Stanley increased their price objective on shares of Warner Bros. Discovery from $13.00 to $15.00 and gave the stock an "equal weight" rating in a research report on Thursday, September 25th. Needham & Company LLC reissued a "hold" rating on shares of Warner Bros. Discovery in a research report on Friday, September 12th. Barclays set a $20.00 price objective on shares of Warner Bros. Discovery in a research report on Wednesday, October 8th. Raymond James Financial increased their price objective on shares of Warner Bros. Discovery from $13.00 to $22.00 and gave the stock an "outperform" rating in a research report on Thursday, October 2nd. Finally, Barrington Research reissued an "outperform" rating and set a $16.00 price objective on shares of Warner Bros. Discovery in a research report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and sixteen have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $17.00.

Warner Bros. Discovery Stock Down 0.5%

Warner Bros. Discovery stock opened at $18.19 on Friday. The company has a market cap of $45.03 billion, a P/E ratio of 60.64, a price-to-earnings-growth ratio of 2.22 and a beta of 1.73. Warner Bros. Discovery, Inc. has a 1-year low of $7.25 and a 1-year high of $20.24. The company has a fifty day simple moving average of $15.52 and a 200 day simple moving average of $12.05. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.92.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.63 earnings per share for the quarter, beating analysts' consensus estimates of ($0.16) by $0.79. The business had revenue of $9.81 billion during the quarter, compared to the consensus estimate of $9.73 billion. Warner Bros. Discovery had a net margin of 2.00% and a return on equity of 2.14%. The firm's revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter last year, the firm earned ($4.07) earnings per share. Research analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Warner Bros. Discovery Company 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.

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