Nissay Asset Management Corp Japan ADV Purchases 54,544 Shares of Warner Bros. Discovery, Inc. $WBD

Key Points

• Nissay Asset Management Corp Japan ADV increased its stake in Warner Bros. Discovery by 10.3%, acquiring an additional 54,544 shares to hold a total of 584,589 shares, valued at approximately $6.27 million.
• Multiple institutional investors, including Flagship Harbor Advisors LLC and CX Institutional, also raised their positions in Warner Bros. Discovery during the first quarter, reflecting strong interest from institutional investors who own 59.95% of the stock.
• Warner Bros. Discovery's latest earnings report showed a significant beat on earnings per share, reporting $0.63 against analyst expectations of ($0.16), alongside a revenue of $9.81 billion for the quarter.

Nissay Asset Management Corp Japan ADV boosted its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 10.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 584,589 shares of the company's stock after buying an additional 54,544 shares during the period. Nissay Asset Management Corp Japan ADV's holdings in Warner Bros. Discovery were worth $6,273,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Flagship Harbor Advisors LLC increased its position in Warner Bros. Discovery by 9.7% in the 1st quarter. Flagship Harbor Advisors LLC now owns 14,955 shares of the company's stock valued at $160,000 after buying an additional 1,318 shares in the last quarter. CX Institutional increased its position in Warner Bros. Discovery by 5.7% in the 1st quarter. CX Institutional now owns 27,324 shares of the company's stock valued at $293,000 after buying an additional 1,465 shares in the last quarter. Bartlett & CO. Wealth Management LLC increased its position in Warner Bros. Discovery by 9.0% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 18,825 shares of the company's stock valued at $202,000 after buying an additional 1,561 shares in the last quarter. Sequoia Financial Advisors LLC increased its position in Warner Bros. Discovery by 2.6% in the 1st quarter. Sequoia Financial Advisors LLC now owns 62,966 shares of the company's stock valued at $676,000 after buying an additional 1,588 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC increased its position in Warner Bros. Discovery by 8.9% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 19,756 shares of the company's stock valued at $212,000 after buying an additional 1,618 shares in the last quarter. 59.95% of the stock is owned by institutional investors.

Insider Buying and Selling at Warner Bros. Discovery

In other Warner Bros. Discovery news, Director Anton J. Levy bought 250,000 shares of the business's stock in a transaction dated Monday, August 11th. The shares were purchased at an average price of $10.90 per share, for a total transaction of $2,725,000.00. Following the purchase, the director directly owned 874,000 shares of the company's stock, valued at approximately $9,526,600. This represents a 40.06% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on WBD. Argus raised Warner Bros. Discovery to a "hold" rating in a research report on Tuesday, May 27th. Wells Fargo & Company boosted their price objective on Warner Bros. Discovery from $11.00 to $13.00 and gave the stock an "equal weight" rating in a report on Friday, August 8th. KeyCorp decreased their price objective on Warner Bros. Discovery from $18.00 to $16.00 and set an "overweight" rating for the company in a report on Friday, August 8th. Citigroup decreased their price objective on Warner Bros. Discovery from $15.00 to $14.00 and set a "buy" rating for the company in a report on Thursday, May 29th. Finally, Benchmark reissued a "buy" rating and set a $18.00 price objective on shares of Warner Bros. Discovery in a report on Monday, July 14th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $13.14.

Warner Bros. Discovery Price Performance

Shares of NASDAQ WBD opened at $12.11 on Friday. Warner Bros. Discovery, Inc. has a twelve month low of $6.78 and a twelve month high of $13.86. The stock's 50 day moving average price is $12.07 and its 200-day moving average price is $10.53. The company has a market capitalization of $29.98 billion, a PE ratio of 40.37, a PEG ratio of 1.61 and a beta of 1.59. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.92.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.63 earnings per share 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 firm had revenue of $9.81 billion for the quarter, compared to the consensus estimate of $9.73 billion. During the same quarter in the previous year, the business earned ($4.07) EPS. The company's revenue was up 1.0% compared to the same quarter last year. On average, equities analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

About Warner Bros. Discovery

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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