Swedbank AB Acquires 470,297 Shares of Warner Bros. Discovery, Inc. $WBD

Key Points

• Swedbank AB increased its Warner Bros. Discovery stake by 44.1% in the fourth quarter, buying 470,297 additional shares and bringing its total holdings to 1,535,742 shares valued at about $44.3 million.
• Warner Bros. Discovery’s latest earnings missed expectations, reporting a loss of $1.17 per share versus the $0.10 loss expected, while revenue came in at $8.89 billion and was down 1.0% year over year.
• Analysts remain cautious overall, with a consensus rating of “Hold” and an average price target of $26.36, even as some firms raised their targets or upgraded the stock.

Swedbank AB lifted its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 44.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,535,742 shares of the company's stock after buying an additional 470,297 shares during the period. Swedbank AB owned about 0.06% of Warner Bros. Discovery worth $44,260,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Concord Wealth Partners boosted its stake in shares of Warner Bros. Discovery by 49.9% during the 3rd quarter. Concord Wealth Partners now owns 1,321 shares of the company's stock worth $26,000 after purchasing an additional 440 shares during the period. Physician Wealth Advisors Inc. boosted its position in Warner Bros. Discovery by 152.1% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 1,404 shares of the company's stock valued at $27,000 after buying an additional 847 shares during the period. Rakuten Securities Inc. boosted its position in Warner Bros. Discovery by 81.5% in the 4th quarter. Rakuten Securities Inc. now owns 1,160 shares of the company's stock valued at $33,000 after buying an additional 521 shares during the period. JPL Wealth Management LLC purchased a new stake in Warner Bros. Discovery in the 3rd quarter valued at about $33,000. Finally, TOWER TRUST & INVESTMENT Co boosted its position in Warner Bros. Discovery by 4,730.8% in the 4th quarter. TOWER TRUST & INVESTMENT Co now owns 1,256 shares of the company's stock valued at $36,000 after buying an additional 1,230 shares during the period. 59.95% of the stock is owned by hedge funds and other institutional investors.

Warner Bros. Discovery Price Performance

WBD stock opened at $27.03 on Monday. The firm has a market cap of $67.77 billion, a PE ratio of -38.61 and a beta of 1.57. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.73 and a current ratio of 0.73. The firm's fifty day moving average is $27.26 and its 200 day moving average is $27.13. Warner Bros. Discovery, Inc. has a one year low of $8.84 and a one year high of $30.00.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($1.17) EPS for the quarter, missing the consensus estimate of ($0.10) by ($1.07). The firm had revenue of $8.89 billion for the quarter, compared to analyst estimates of $8.89 billion. Warner Bros. Discovery had a negative net margin of 4.67% and a negative return on equity of 4.77%. The firm's quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.18) EPS. On average, research analysts forecast that Warner Bros. Discovery, Inc. will post -0.71 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on WBD. UBS Group boosted their price objective on shares of Warner Bros. Discovery from $30.00 to $31.00 and gave the company a "neutral" rating in a research report on Thursday, May 7th. Moffett Nathanson raised shares of Warner Bros. Discovery from a "hold" rating to a "strong-buy" rating in a research report on Sunday, March 8th. KeyCorp reissued an "overweight" rating on shares of Warner Bros. Discovery in a research report on Friday, April 24th. Huber Research lowered shares of Warner Bros. Discovery from a "strong-buy" rating to a "strong sell" rating in a report on Friday, February 27th. Finally, 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 note on Tuesday, February 24th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, thirteen have assigned a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, Warner Bros. Discovery currently has a consensus rating of "Hold" and an average price target of $26.36.

Insider Buying and Selling at Warner Bros. Discovery

In other Warner Bros. Discovery news, CEO David Zaslav sold 4,004,149 shares of the stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $28.26, for a total transaction of $113,157,250.74. Following the transaction, the chief executive officer directly owned 7,200,627 shares of the company's stock, valued at $203,489,719.02. This trade represents a 35.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Bruce Campbell sold 1,580,331 shares of the stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $28.00, for a total transaction of $44,249,268.00. Following the transaction, the insider directly owned 690,028 shares in the company, valued at approximately $19,320,784. The trade was a 69.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 8,206,827 shares of company stock valued at $230,674,025. Insiders own 1.90% of the company's stock.

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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