Securian Asset Management Inc. Has $1.94 Million Holdings in Warner Bros. Discovery, Inc. $WBD

Key Points

• Securian Asset Management cut its stake in Warner Bros. Discovery by 43.6% in the fourth quarter, leaving it with 67,381 shares valued at about $1.94 million.
• Warner Bros. Discovery reported EPS of -$1.17 for the quarter, far below expectations, while revenue came in at $8.89 billion, matching estimates but down 1% from a year ago.
• Insider selling has been significant, including major sales by Director Paul A. Gould and CFO Gunnar Wiedenfels; analysts currently rate the stock a Hold on average with a price target of $26.36.

Securian Asset Management Inc. lessened its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 43.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 67,381 shares of the company's stock after selling 52,184 shares during the quarter. Securian Asset Management Inc.'s holdings in Warner Bros. Discovery were worth $1,942,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Concord Wealth Partners boosted its holdings in shares of Warner Bros. Discovery by 49.9% in the third quarter. Concord Wealth Partners now owns 1,321 shares of the company's stock valued at $26,000 after buying an additional 440 shares during the period. Physician Wealth Advisors Inc. lifted its position in shares of Warner Bros. Discovery by 152.1% in the third quarter. Physician Wealth Advisors Inc. now owns 1,404 shares of the company's stock worth $27,000 after purchasing an additional 847 shares in the last quarter. Rakuten Securities Inc. lifted its position in shares of Warner Bros. Discovery by 81.5% in the fourth quarter. Rakuten Securities Inc. now owns 1,160 shares of the company's stock worth $33,000 after purchasing an additional 521 shares in the last quarter. JPL Wealth Management LLC bought a new stake in shares of Warner Bros. Discovery in the third quarter worth $33,000. Finally, TOWER TRUST & INVESTMENT Co lifted its position in shares of Warner Bros. Discovery by 4,730.8% in the fourth quarter. TOWER TRUST & INVESTMENT Co now owns 1,256 shares of the company's stock worth $36,000 after purchasing an additional 1,230 shares in the last quarter. Institutional investors and hedge funds own 59.95% of the company's stock.

Warner Bros. Discovery Stock Performance

NASDAQ WBD opened at $27.24 on Tuesday. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.92. The firm's fifty day moving average price is $27.42 and its two-hundred day moving average price is $26.77. Warner Bros. Discovery, Inc. has a 1 year low of $8.82 and a 1 year high of $30.00. The firm has a market capitalization of $68.28 billion, a P/E ratio of -38.91 and a beta of 1.57.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($1.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($1.07). Warner Bros. Discovery had a negative return on equity of 4.77% and a negative net margin of 4.67%.The firm had revenue of $8.89 billion for the quarter, compared to the consensus estimate of $8.89 billion. During the same period last year, the company posted ($0.18) earnings per share. The business's revenue was down 1.0% compared to the same quarter last year. As a group, research analysts anticipate that Warner Bros. Discovery, Inc. will post -0.15 EPS for the current year.

Insider Activity

In other Warner Bros. Discovery news, Director Paul A. Gould sold 600,000 shares of the company's stock in a transaction on Monday, March 16th. The shares were sold at an average price of $27.35, for a total transaction of $16,410,000.00. Following the sale, the director directly owned 244,357 shares of the company's stock, valued at approximately $6,683,163.95. This represents a 71.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Gunnar Wiedenfels sold 374,323 shares of the company's stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $28.05, for a total transaction of $10,499,760.15. Following the sale, the chief financial officer directly owned 663,380 shares in the company, valued at $18,607,809. This trade represents a 36.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 8,206,827 shares of company stock valued at $230,674,025. 1.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

WBD has been the topic of a number of research reports. TD Cowen boosted their price objective on shares of Warner Bros. Discovery from $22.00 to $26.00 and gave the stock a "hold" rating in a research report on Friday, February 27th. Benchmark reissued a "hold" rating on shares of Warner Bros. Discovery in a research report on Friday, February 27th. Sanford C. Bernstein boosted their price objective on shares of Warner Bros. Discovery from $23.50 to $27.75 and gave the stock a "market perform" rating in a research report on Tuesday, February 24th. Deutsche Bank Aktiengesellschaft lowered shares of Warner Bros. Discovery from a "buy" rating to a "hold" rating and boosted their price objective for the stock from $29.50 to $31.00 in a research report on Friday, February 27th. Finally, Weiss Ratings lowered shares of Warner Bros. Discovery from a "hold (c-)" rating to a "sell (d-)" rating in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, thirteen have assigned a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, Warner Bros. Discovery has an average rating of "Hold" and an average price target of $26.36.

Warner Bros. Discovery Profile

Warner Bros. Discovery NASDAQ: WBD is a global media and entertainment company formed when WarnerMedia and Discovery, Inc combined their businesses in 2022. Headquartered in New York City, the company assembles a broad portfolio of film and television production, linear and cable networks, streaming services and consumer distribution operations. Its assets span well-known studio brands, premium scripted and unscripted programming, news and factual entertainment, and licensed franchise properties.

The company's core activities include film and television production and distribution through units such as Warner Bros.

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