Nordea Investment Management AB Boosts Holdings in Warner Bros. Discovery, Inc. $WBD

Key Points

• Nordea Investment Management AB increased its stake in Warner Bros. Discovery by 7.9%, bringing its total holdings to 199,117 shares, valued at approximately $2.28 million.
• Several other institutional investors also expanded their positions in Warner Bros. Discovery, with 59.95% of the stock currently held by institutional investors and hedge funds.
• Raymond James Financial raised its price target for Warner Bros. Discovery from $13.00 to $22.00 and assigned an "outperform" rating, reflecting positive analyst sentiment towards the company's stock performance.

Nordea Investment Management AB lifted its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 7.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 199,117 shares of the company's stock after buying an additional 14,538 shares during the period. Nordea Investment Management AB's holdings in Warner Bros. Discovery were worth $2,281,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in WBD. Eastern Bank increased its stake in Warner Bros. Discovery by 11.6% during the second quarter. Eastern Bank now owns 8,452 shares of the company's stock worth $97,000 after acquiring an additional 879 shares during the last quarter. Apollon Wealth Management LLC increased its position in shares of Warner Bros. Discovery by 2.1% during the 2nd quarter. Apollon Wealth Management LLC now owns 45,733 shares of the company's stock worth $524,000 after purchasing an additional 948 shares during the last quarter. Parkside Investments LLC raised its holdings in Warner Bros. Discovery by 0.3% in the 2nd quarter. Parkside Investments LLC now owns 346,654 shares of the company's stock valued at $3,973,000 after buying an additional 1,000 shares during the period. Avior Wealth Management LLC raised its holdings in Warner Bros. Discovery by 8.8% in the 2nd quarter. Avior Wealth Management LLC now owns 14,545 shares of the company's stock valued at $167,000 after buying an additional 1,176 shares during the period. Finally, Investors Asset Management of Georgia Inc. GA ADV lifted its position in Warner Bros. Discovery by 9.7% in the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 13,704 shares of the company's stock valued at $157,000 after buying an additional 1,213 shares during the last quarter. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on WBD. Raymond James Financial boosted their price target on shares of Warner Bros. Discovery from $13.00 to $22.00 and gave the company an "outperform" rating in a research note on Thursday, October 2nd. Weiss Ratings raised Warner Bros. Discovery from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, October 8th. Needham & Company LLC restated a "hold" rating on shares of Warner Bros. Discovery in a research note on Friday, September 12th. UBS Group raised their price target on Warner Bros. Discovery from $10.00 to $20.00 and gave the stock a "neutral" rating in a research report on Monday, October 6th. Finally, TD Cowen reiterated a "hold" rating and issued a $14.00 price objective on shares of Warner Bros. Discovery in a report on Tuesday, September 16th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and sixteen have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $17.68.

Warner Bros. Discovery Stock Performance

Shares of Warner Bros. Discovery stock opened at $20.53 on Thursday. The business has a 50-day simple moving average of $16.03 and a 200-day simple moving average of $12.26. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.04 and a current ratio of 1.04. Warner Bros. Discovery, Inc. has a one year low of $7.25 and a one year high of $21.22. The company has a market cap of $50.83 billion, a PE ratio of 68.44, a P/E/G ratio of 2.48 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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.16) by $0.79. Warner Bros. Discovery had a net margin of 2.00% and a return on equity of 2.14%. The company had revenue of $9.81 billion during the quarter, compared to the consensus estimate of $9.73 billion. During the same quarter in the previous year, the firm earned ($4.07) earnings per share. The firm's quarterly revenue was up 1.0% on a year-over-year basis. On average, equities research analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Insider Transactions at Warner Bros. Discovery

In other news, Director Anton J. Levy bought 75,000 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was purchased at an average price of $11.00 per share, for a total transaction of $825,000.00. Following the completion of the purchase, the director owned 949,000 shares in the company, valued at approximately $10,439,000. This trade represents a 8.58% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Gunnar Wiedenfels sold 530,793 shares of the stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $19.50, for a total value of $10,350,463.50. Following the completion of the transaction, the chief financial officer owned 1,141,150 shares in the company, valued at approximately $22,252,425. The trade was a 31.75% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 970,115 shares of company stock valued at $17,818,490. Insiders own 1.90% of the company's stock.

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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