Resona Asset Management Co. Ltd. Boosts Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Key Points

• Resona Asset Management Co. Ltd. increased its holdings in Warner Bros. Discovery by 5.1%, owning a total of 710,807 shares valued at approximately $7.59 million.
• Insider transactions included Director Anton J. Levy purchasing 75,000 shares at $11.00 per share, raising their total holdings to about $10.44 million.
• Warner Bros. Discovery reported a profit of $0.63 EPS for the last quarter, significantly beating estimates and reflecting a year-over-year revenue increase of 1% to $9.81 billion.

Resona Asset Management Co. Ltd. lifted its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 5.1% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 710,807 shares of the company's stock after buying an additional 34,431 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in Warner Bros. Discovery were worth $7,589,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Financial Gravity Asset Management Inc. purchased a new stake in Warner Bros. Discovery in the 1st quarter worth $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. Ameriflex Group Inc. bought a new stake in shares of Warner Bros. Discovery in the 4th quarter worth about $30,000. Finally, Golden State Wealth Management LLC increased its holdings in shares of Warner Bros. Discovery by 448.0% in the 1st quarter. Golden State Wealth Management LLC now owns 2,877 shares of the company's stock worth $31,000 after buying an additional 2,352 shares during the last quarter. Hedge funds and other institutional investors own 59.95% of the company's stock.

Insider Buying and Selling at Warner Bros. Discovery

In other Warner Bros. Discovery news, Director Anton J. Levy purchased 75,000 shares of the stock in a transaction dated Tuesday, August 12th. The stock was purchased at an average price of $11.00 per share, with a total value of $825,000.00. Following the transaction, the director owned 949,000 shares of the company's stock, valued at approximately $10,439,000. This trade represents a 8.58% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.90% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on WBD. Argus upgraded shares of Warner Bros. Discovery to a "hold" rating in a report on Tuesday, May 27th. UBS Group boosted their target price on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. Guggenheim restated a "buy" rating on shares of Warner Bros. Discovery in a report on Tuesday, June 10th. Citigroup cut their price target on shares of Warner Bros. Discovery from $15.00 to $14.00 and set a "buy" rating on the stock in a report on Thursday, May 29th. Finally, KeyCorp cut their price target on shares of Warner Bros. Discovery from $18.00 to $16.00 and set an "overweight" rating on the stock in a report on Friday, August 8th. Eleven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $13.14.

Warner Bros. Discovery Trading Up 0.6%

Warner Bros. Discovery stock traded up $0.07 during trading hours on Friday, hitting $11.85. The company had a trading volume of 40,652,332 shares, compared to its average volume of 69,557,104. The firm has a market cap of $29.09 billion, a P/E ratio of 39.50, a P/E/G ratio of 1.58 and a beta of 1.57. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.04 and a current ratio of 1.04. Warner Bros. Discovery, Inc. has a 1 year low of $6.78 and a 1 year high of $13.86. The company has a 50-day moving average price of $11.69 and a two-hundred day moving average price of $10.37.

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

Warner Bros. Discovery Company 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.