Swedbank AB Has $8.65 Million Stock Holdings in Warner Bros. Discovery, Inc. $WBD

Key Points

• Swedbank AB reduced its holdings in Warner Bros. Discovery by 4.7%, owning 806,366 shares worth approximately $8.65 million at the end of the reporting period.
• Warner Bros. Discovery reported $0.63 earnings per share for the last quarter, significantly exceeding the consensus estimate of ($0.16).
• Several analysts issued reports on Warner Bros. Discovery, with the average rating being a "Moderate Buy" and a target price of $13.20.

Swedbank AB decreased its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 4.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 806,366 shares of the company's stock after selling 40,167 shares during the period. Swedbank AB's holdings in Warner Bros. Discovery were worth $8,652,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Voya Investment Management LLC grew its stake in shares of Warner Bros. Discovery by 34.9% in the 1st quarter. Voya Investment Management LLC now owns 7,035,842 shares of the company's stock valued at $75,495,000 after buying an additional 1,820,249 shares in the last quarter. GF Fund Management CO. LTD. acquired a new stake in Warner Bros. Discovery in the fourth quarter valued at approximately $4,914,000. Polar Asset Management Partners Inc. acquired a new stake in Warner Bros. Discovery in the fourth quarter valued at approximately $3,022,000. Hi Line Capital Management LLC grew its position in Warner Bros. Discovery by 17.8% in the first quarter. Hi Line Capital Management LLC now owns 597,478 shares of the company's stock worth $6,411,000 after acquiring an additional 90,462 shares in the last quarter. Finally, KBC Group NV increased its stake in shares of Warner Bros. Discovery by 682.8% during the 1st quarter. KBC Group NV now owns 7,145,308 shares of the company's stock worth $76,669,000 after purchasing an additional 6,232,561 shares during the last quarter. Hedge funds and other institutional investors own 59.95% of the company's stock.

Warner Bros. Discovery Stock Performance

Shares of NASDAQ WBD opened at $19.46 on Tuesday. Warner Bros. Discovery, Inc. has a 12 month low of $7.25 and a 12 month high of $19.59. The company has a market cap of $48.18 billion, a P/E ratio of 64.87, a P/E/G ratio of 2.51 and a beta of 1.59. The business's 50 day moving average is $12.57 and its two-hundred day moving average is $10.71. 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 (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, topping the consensus estimate of ($0.16) by $0.79. The business had revenue of $9.81 billion for the quarter, compared to the consensus estimate of $9.73 billion. Warner Bros. Discovery had a net margin of 2.00% and a return on equity of 2.14%. Warner Bros. Discovery's quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the company posted ($4.07) earnings per share. On average, equities analysts expect that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Benchmark reaffirmed a "buy" rating and issued a $18.00 price objective on shares of Warner Bros. Discovery in a research note on Monday, July 14th. Huber Research raised Warner Bros. Discovery from a "strong sell" rating to a "strong-buy" rating in a research report on Monday, June 9th. Guggenheim reiterated a "buy" rating on shares of Warner Bros. Discovery in a research note on Tuesday, June 10th. Needham & Company LLC reissued a "hold" rating on shares of Warner Bros. Discovery in a research note on Friday. Finally, KeyCorp reduced their target price on Warner Bros. Discovery from $18.00 to $16.00 and set an "overweight" rating for the company in a report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $13.20.

Insider Activity

In other news, insider Bruce Campbell sold 289,322 shares of the company's stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $16.48, for a total transaction of $4,768,026.56. Following the completion of the transaction, the insider owned 402,464 shares of the company's stock, valued at approximately $6,632,606.72. This represents a 41.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Anton J. Levy bought 250,000 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The shares were purchased at an average cost of $10.90 per share, for a total transaction of $2,725,000.00. Following the completion of the transaction, the director owned 874,000 shares of the company's stock, valued at $9,526,600. This represents a 40.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.80% of the company's stock.

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.

Want to see what other hedge funds are holding WBD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.