Swedbank AB Has $11.78 Million Stock Position in Warner Bros. Discovery, Inc. $WBD

Key Points

• Swedbank AB increased its stake in Warner Bros. Discovery, Inc. by 27.4% during Q2, holding over 1 million shares valued at approximately $11.8 million.
• Warner Bros. Discovery's recent quarterly earnings exceeded expectations, reporting $0.63 earnings per share against a consensus estimate of ($0.16).
• Insider transactions saw Director Anton J. Levy purchase 75,000 shares, while CFO Gunnar Wiedenfels sold over 530,000 shares at an average price of $19.50.

Swedbank AB raised its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 27.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,027,459 shares of the company's stock after buying an additional 221,093 shares during the quarter. Swedbank AB's holdings in Warner Bros. Discovery were worth $11,775,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. WPG Advisers LLC bought a new stake in shares of Warner Bros. Discovery in the 1st quarter worth about $26,000. Financial Gravity Asset Management Inc. bought a new stake in shares of Warner Bros. Discovery in the 1st quarter worth about $27,000. North Capital Inc. bought a new stake in shares of Warner Bros. Discovery in the 1st quarter worth about $28,000. Smallwood Wealth Investment Management LLC bought a new stake in shares of Warner Bros. Discovery in the 1st quarter worth about $29,000. Finally, Ameriflex Group Inc. bought a new stake in shares of Warner Bros. Discovery in the 4th quarter worth about $30,000. Institutional investors own 59.95% of the company's stock.

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.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on WBD. Morgan Stanley upped their price target on shares of Warner Bros. Discovery from $10.00 to $13.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 6th. Moffett Nathanson upped their price target on shares of Warner Bros. Discovery from $14.00 to $23.00 and gave the stock a "buy" rating in a research report on Monday. Bank of America upped their target price on shares of Warner Bros. Discovery from $14.00 to $16.00 and gave the company a "buy" rating in a research report on Tuesday, July 1st. Barrington Research reaffirmed an "outperform" rating and issued a $16.00 price target on shares of Warner Bros. Discovery in a research note on Wednesday, July 30th. Finally, Barclays upped their price target on Warner Bros. Discovery from $9.00 to $13.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 9th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and fourteen have given a Hold rating to the stock. According to data from MarketBeat.com, Warner Bros. Discovery has a consensus rating of "Hold" and a consensus target price of $13.96.

Warner Bros. Discovery Stock Up 1.0%

Shares of WBD traded up $0.19 during mid-day trading on Tuesday, hitting $19.80. 26,338,445 shares of the company's stock were exchanged, compared to its average volume of 51,192,941. The company has a market cap of $49.02 billion, a PE ratio of 66.15, a P/E/G ratio of 2.58 and a beta of 1.59. Warner Bros. Discovery, Inc. has a 52 week low of $7.25 and a 52 week high of $20.12. The company has a 50-day simple moving average of $13.28 and a 200 day simple moving average of $10.98. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.04 and a quick ratio of 1.04.

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, research analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

About Warner Bros. Discovery

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.