Callan Family Office LLC Grows Stake in Warner Bros. Discovery, Inc. $WBD

Callan Family Office LLC boosted its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 88.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 35,132 shares of the company's stock after purchasing an additional 16,486 shares during the quarter. Callan Family Office LLC's holdings in Warner Bros. Discovery were worth $403,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of WBD. Independent Franchise Partners LLP purchased a new position in Warner Bros. Discovery during the 1st quarter worth $140,224,000. Nuveen LLC purchased a new position in shares of Warner Bros. Discovery in the 1st quarter valued at $96,971,000. KBC Group NV increased its holdings in shares of Warner Bros. Discovery by 682.8% in the 1st quarter. KBC Group NV now owns 7,145,308 shares of the company's stock valued at $76,669,000 after acquiring an additional 6,232,561 shares during the period. Apollo Management Holdings L.P. purchased a new position in shares of Warner Bros. Discovery in the 1st quarter valued at $65,031,000. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Warner Bros. Discovery by 63.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 12,839,389 shares of the company's stock valued at $137,700,000 after acquiring an additional 4,994,894 shares during the period. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WBD has been the topic of a number of analyst reports. Needham & Company LLC reiterated a "hold" rating on shares of Warner Bros. Discovery in a report on Friday, September 12th. Cowen downgraded Warner Bros. Discovery from a "buy" rating to a "hold" rating in a report on Tuesday, September 16th. TD Cowen reiterated a "hold" rating and issued a $14.00 price target on shares of Warner Bros. Discovery in a report on Tuesday, September 16th. Moffett Nathanson lifted their price target on Warner Bros. Discovery from $14.00 to $23.00 and gave the company a "buy" rating in a report on Monday, September 22nd. Finally, Wells Fargo & Company lifted their price target on Warner Bros. Discovery from $13.00 to $14.00 and gave the company an "equal weight" rating in a report on Thursday, September 11th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and sixteen have assigned a Hold rating to the company's stock. According to MarketBeat.com, Warner Bros. Discovery currently has an average rating of "Hold" and a consensus target price of $16.61.

Warner Bros. Discovery Trading Up 2.6%

Warner Bros. Discovery stock opened at $18.45 on Thursday. The stock has a 50-day moving average of $15.25 and a two-hundred day moving average of $11.93. Warner Bros. Discovery, Inc. has a one year low of $7.25 and a one year high of $20.24. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market cap of $45.68 billion, a PE ratio of 61.50, a price-to-earnings-growth ratio of 2.20 and a beta of 1.73.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.63 EPS for the quarter, topping analysts' consensus estimates of ($0.16) by $0.79. Warner Bros. Discovery had a return on equity of 2.14% and a net margin of 2.00%.The company had revenue of $9.81 billion during the quarter, compared to analysts' expectations of $9.73 billion. During the same quarter in the previous year, the firm posted ($4.07) EPS. The firm's revenue was up 1.0% compared to the same quarter last year. On average, research analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Anton J. Levy purchased 75,000 shares of the stock in a transaction on Tuesday, August 12th. The stock was bought at an average price of $11.00 per share, with a total value of $825,000.00. Following the transaction, the director owned 949,000 shares in the company, valued at $10,439,000. The trade was a 8.58% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, 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 stock was sold at an average price of $19.50, for a total value of $10,350,463.50. Following the sale, the chief financial officer directly owned 1,141,150 shares of the company's stock, valued at approximately $22,252,425. This represents a 31.75% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 970,115 shares of company stock valued at $17,818,490. 1.90% of the stock is owned by company insiders.

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.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.