Sumitomo Mitsui DS Asset Management Company Ltd Has $3.29 Million Holdings in Warner Bros. Discovery, Inc. $WBD

Key Points

• Sumitomo Mitsui DS Asset Management increased its holdings in Warner Bros. Discovery by 11.5%, acquiring an additional 29,591 shares, bringing its total to 286,913 shares valued at approximately $3.29 million.
• Analysts have mixed ratings for Warner Bros. Discovery, with an average target price of $13.25, where ratings range from a Strong Buy to Hold.
• The company's recent earnings report showed a profit of $0.63 per share, significantly beating estimates, with revenue of $9.81 billion compared to expectations of $9.73 billion.

Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 11.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 286,913 shares of the company's stock after purchasing an additional 29,591 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Warner Bros. Discovery were worth $3,288,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC increased its stake in shares of Warner Bros. Discovery by 304.9% in the 4th quarter. Brighton Jones LLC now owns 68,950 shares of the company's stock valued at $729,000 after acquiring an additional 51,920 shares during the last quarter. Man Group plc increased its stake in shares of Warner Bros. Discovery by 26.9% in the 4th quarter. Man Group plc now owns 47,049 shares of the company's stock valued at $497,000 after acquiring an additional 9,969 shares during the last quarter. Vident Advisory LLC increased its stake in shares of Warner Bros. Discovery by 59.6% in the 4th quarter. Vident Advisory LLC now owns 21,088 shares of the company's stock valued at $223,000 after acquiring an additional 7,875 shares during the last quarter. Waverly Advisors LLC increased its stake in shares of Warner Bros. Discovery by 30.9% in the 4th quarter. Waverly Advisors LLC now owns 27,025 shares of the company's stock valued at $286,000 after acquiring an additional 6,372 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Warner Bros. Discovery by 25.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,818,180 shares of the company's stock valued at $135,488,000 after purchasing an additional 2,573,716 shares during the period. Institutional investors and hedge funds own 59.95% of the company's stock.

Warner Bros. Discovery Stock Up 1.0%

Shares of NASDAQ WBD traded up $0.19 during trading hours on Tuesday, hitting $19.80. The company had a trading volume of 26,338,445 shares, compared to its average volume of 51,192,941. The stock has a market capitalization of $49.02 billion, a P/E ratio of 66.15, a price-to-earnings-growth ratio of 2.58 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, Inc. has a 1-year low of $7.25 and a 1-year high of $20.12. The firm's 50 day moving average is $13.28 and its 200-day moving average is $10.98.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.63 EPS for the quarter, beating the consensus estimate of ($0.16) by $0.79. The company had revenue of $9.81 billion during the quarter, compared to the consensus estimate of $9.73 billion. Warner Bros. Discovery had a return on equity of 2.14% and a net margin of 2.00%.The firm's revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($4.07) EPS. On average, analysts expect that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on WBD shares. Huber Research upgraded Warner Bros. Discovery from a "strong sell" rating to a "strong-buy" rating in a research report on Monday, June 9th. Argus upgraded Warner Bros. Discovery to a "hold" rating in a research report on Tuesday, May 27th. TD Cowen reiterated a "hold" rating and issued a $14.00 price objective on shares of Warner Bros. Discovery in a research report on Tuesday, September 16th. 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 research report on Thursday, May 29th. Finally, Guggenheim reiterated a "buy" rating on shares of Warner Bros. Discovery in a research report on Tuesday, June 10th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and fourteen have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $13.96.

Insider Activity

In other Warner Bros. Discovery news, CFO Gunnar Wiedenfels sold 530,793 shares of the firm's stock in a transaction on Monday, September 15th. The stock was sold at an average price of $19.50, for a total transaction of $10,350,463.50. Following the completion of the sale, the chief financial officer owned 1,141,150 shares of the company's stock, valued at $22,252,425. This trade represents a 31.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Bruce Campbell sold 150,000 shares of the firm's stock in a transaction on Friday, September 12th. The shares were sold at an average price of $18.00, for a total value of $2,700,000.00. Following the sale, the insider directly owned 252,464 shares of the company's stock, valued at $4,544,352. This represents a 37.27% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 970,115 shares of company stock valued at $17,818,490. 1.80% of the stock is 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.