National Pension Service Acquires 229,635 Shares of Warner Bros. Discovery, Inc. $WBD

National Pension Service increased its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 3.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,792,065 shares of the company's stock after acquiring an additional 229,635 shares during the period. National Pension Service owned about 0.27% of Warner Bros. Discovery worth $181,076,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. California State Teachers Retirement System grew its stake in shares of Warner Bros. Discovery by 2,593.6% in the 2nd quarter. California State Teachers Retirement System now owns 96,581,582 shares of the company's stock valued at $2,574,865,000 after purchasing an additional 92,996,028 shares during the period. Norges Bank bought a new position in shares of Warner Bros. Discovery during the 4th quarter worth approximately $1,123,807,000. Bank of New York Mellon Corp bought a new position in shares of Warner Bros. Discovery during the 2nd quarter worth approximately $338,263,000. Hsbc Holdings PLC boosted its stake in Warner Bros. Discovery by 131.3% in the 2nd quarter. Hsbc Holdings PLC now owns 13,829,848 shares of the company's stock valued at $369,800,000 after buying an additional 7,851,800 shares in the last quarter. Finally, Duquesne Family Office LLC acquired a new stake in Warner Bros. Discovery in the 2nd quarter valued at $74,916,000. Institutional investors own 59.95% of the company's stock.

Warner Bros. Discovery Price Performance

Shares of WBD stock opened at $28.20 on Friday. Warner Bros. Discovery, Inc. has a 52 week low of $12.56 and a 52 week high of $30.00. The stock has a market capitalization of $70.80 billion, a PE ratio of -22.20 and a beta of 1.57. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.78 and a current ratio of 0.78. The stock's fifty day moving average is $27.20 and its 200-day moving average is $27.24.

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 (EPS) for the quarter, beating analysts' consensus estimates 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 in the previous year, the business posted $0.63 earnings per share. Equities research analysts expect that Warner Bros. Discovery, Inc. will post -1.11 EPS for the current fiscal year.

Insider Transactions at Warner Bros. Discovery

In other Warner Bros. Discovery news, Director Anton Levy sold 340,000 shares of the business's stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $28.39, for a total value of $9,652,600.00. Following the completion of the transaction, the director directly owned 618,067 shares of the company's stock, valued at approximately $17,546,922.13. The trade was a 35.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Amy Girdwood sold 262,285 shares of the company's stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $27.98, for a total transaction of $7,338,734.30. Following the transaction, the insider owned 539,374 shares in the company, valued at $15,091,684.52. The trade was a 32.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 2,553,034 shares of company stock worth $70,990,967. Corporate insiders own 0.70% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on WBD. Huber Research raised Warner Bros. Discovery from an "underweight" rating to an "overweight" rating in a report on Monday, June 1st. Seaport Research Partners lowered shares of Warner Bros. Discovery from a "buy" rating to a "neutral" rating in a report on Monday, July 27th. Weiss Ratings upgraded shares of Warner Bros. Discovery from a "sell (d-)" rating to a "sell (d+)" rating in a research report on Tuesday, August 18th. Zacks Research raised shares of Warner Bros. Discovery from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 25th. Finally, Freedom Capital upgraded shares of Warner Bros. Discovery from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 10th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Warner Bros. Discovery has an average rating of "Hold" and an average price target of $27.69.

About Warner Bros. Discovery

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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