Phoenix Financial Ltd. Acquires 23,096 Shares of Warner Bros. Discovery, Inc. $WBD

Phoenix Financial Ltd. increased its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 151.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,370 shares of the company's stock after acquiring an additional 23,096 shares during the period. Phoenix Financial Ltd.'s holdings in Warner Bros. Discovery were worth $440,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Voya Investment Management LLC grew its holdings in shares of Warner Bros. Discovery by 34.9% in the first quarter. Voya Investment Management LLC now owns 7,035,842 shares of the company's stock valued at $75,495,000 after acquiring an additional 1,820,249 shares in the last quarter. Bfsg LLC grew its holdings in shares of Warner Bros. Discovery by 11.2% in the second quarter. Bfsg LLC now owns 156,906 shares of the company's stock valued at $1,798,000 after acquiring an additional 15,786 shares in the last quarter. Country Club Bank grew its holdings in shares of Warner Bros. Discovery by 54.3% in the second quarter. Country Club Bank now owns 502,878 shares of the company's stock valued at $5,683,000 after acquiring an additional 176,994 shares in the last quarter. Kingstone Capital Partners Texas LLC bought a new position in shares of Warner Bros. Discovery in the second quarter valued at approximately $4,089,000. Finally, Mn Services Vermogensbeheer B.V. grew its holdings in shares of Warner Bros. Discovery by 4.3% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 878,600 shares of the company's stock valued at $10,069,000 after acquiring an additional 36,100 shares in the last quarter. 59.95% of the stock is owned by institutional investors.

Warner Bros. Discovery Stock Up 1.0%

Shares of NASDAQ:WBD opened at $20.53 on Thursday. The stock's 50-day moving average price is $16.03 and its 200-day moving average price is $12.26. Warner Bros. Discovery, Inc. has a 12-month low of $7.25 and a 12-month high of $21.22. The stock has a market capitalization of $50.83 billion, a P/E ratio of 68.44, a price-to-earnings-growth ratio of 2.48 and a beta of 1.73. 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 announced its quarterly earnings data on Thursday, August 7th. The company reported $0.63 earnings per share (EPS) for the quarter, beating 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 analysts' expectations of $9.73 billion. During the same period last year, the firm earned ($4.07) earnings per share. The company's revenue for the quarter 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 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on WBD shares. Moffett Nathanson increased their price objective on Warner Bros. Discovery from $14.00 to $23.00 and gave the company a "buy" rating in a report on Monday, September 22nd. KeyCorp restated a "sector weight" rating on shares of Warner Bros. Discovery in a research report on Friday, September 26th. The Goldman Sachs Group increased their target price on Warner Bros. Discovery from $11.50 to $13.00 and gave the stock a "neutral" rating in a research report on Tuesday, September 30th. Needham & Company LLC restated a "hold" rating on shares of Warner Bros. Discovery in a research report on Friday, September 12th. Finally, Raymond James Financial raised their price target on Warner Bros. Discovery from $13.00 to $22.00 and gave the company an "outperform" rating in a research report on Thursday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and sixteen have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $17.68.

Insider Activity

In related news, CFO Gunnar Wiedenfels sold 530,793 shares of the firm's 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 $22,252,425. This trade represents a 31.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Anton J. Levy bought 250,000 shares of the business's stock in a transaction that occurred on Monday, August 11th. The stock was acquired at an average cost of $10.90 per share, for a total transaction of $2,725,000.00. Following the completion of the purchase, the director directly owned 874,000 shares of the company's stock, valued at $9,526,600. The trade was a 40.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 970,115 shares of company stock valued at $17,818,490. 1.90% of the stock is currently owned by insiders.

Warner Bros. Discovery 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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