Warner Bros. Discovery, Inc. $WBD Holdings Raised by KLP Kapitalforvaltning AS

Key Points

• KLP Kapitalforvaltning AS increased its holdings in Warner Bros. Discovery by 6.9%, owning 847,627 shares worth approximately $9.7 million after acquiring an additional 54,600 shares in the second quarter.
• Multiple institutional investors boosted their stakes in Warner Bros. Discovery, with 59.95% of the stock now owned by institutional investors overall.
• Research analysts have mixed ratings on Warner Bros. Discovery, with a consensus "Hold" rating and an average target price of $16.61, while some firms have raised their price targets significantly.

KLP Kapitalforvaltning AS grew its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 6.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 847,627 shares of the company's stock after acquiring an additional 54,600 shares during the quarter. KLP Kapitalforvaltning AS's holdings in Warner Bros. Discovery were worth $9,714,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Country Club Bank boosted its position in Warner Bros. Discovery by 54.3% during the 2nd quarter. Country Club Bank now owns 502,878 shares of the company's stock valued at $5,683,000 after purchasing an additional 176,994 shares during the period. Mraz Amerine & Associates Inc. boosted its position in Warner Bros. Discovery by 0.5% during the 2nd quarter. Mraz Amerine & Associates Inc. now owns 238,986 shares of the company's stock valued at $2,739,000 after purchasing an additional 1,219 shares during the period. Investors Asset Management of Georgia Inc. GA ADV boosted its position in Warner Bros. Discovery by 9.7% during the 2nd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 13,704 shares of the company's stock valued at $157,000 after purchasing an additional 1,213 shares during the period. Sendero Wealth Management LLC boosted its position in Warner Bros. Discovery by 21.4% during the 2nd quarter. Sendero Wealth Management LLC now owns 487,114 shares of the company's stock valued at $5,582,000 after purchasing an additional 85,906 shares during the period. Finally, Beacon Financial Advisory LLC boosted its position in Warner Bros. Discovery by 42.3% during the 2nd quarter. Beacon Financial Advisory LLC now owns 18,017 shares of the company's stock valued at $206,000 after purchasing an additional 5,357 shares during the period. 59.95% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Needham & Company LLC restated a "hold" rating on shares of Warner Bros. Discovery in a research report on Friday, September 12th. Raymond James Financial boosted their price objective on Warner Bros. Discovery from $13.00 to $22.00 and gave the company an "outperform" rating in a research report on Thursday, October 2nd. Weiss Ratings upgraded Warner Bros. Discovery from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday. UBS Group boosted their price objective on Warner Bros. Discovery from $10.00 to $20.00 and gave the company a "neutral" rating in a research report on Monday. Finally, Wells Fargo & Company boosted their price target on Warner Bros. Discovery from $13.00 to $14.00 and gave the stock an "equal weight" rating in a research report on Thursday, September 11th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and sixteen have issued a Hold rating to the company. According to data from MarketBeat.com, Warner Bros. Discovery has a consensus rating of "Hold" and an average target price of $16.61.

Warner Bros. Discovery Stock Down 1.2%

WBD opened at $17.67 on Friday. Warner Bros. Discovery, Inc. has a one year low of $7.25 and a one year high of $20.24. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.04 and a current ratio of 1.04. The stock's fifty day moving average is $14.85 and its 200-day moving average is $11.74. The company has a market capitalization of $43.75 billion, a PE ratio of 58.90, a P/E/G ratio of 2.10 and a beta of 1.73.

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

Insider Transactions at Warner Bros. Discovery

In other news, insider Bruce Campbell sold 150,000 shares of the business's stock in a transaction on Friday, September 12th. The stock was sold at an average price of $18.00, for a total value of $2,700,000.00. Following the sale, the insider owned 252,464 shares of the company's stock, valued at approximately $4,544,352. The trade was a 37.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Gunnar Wiedenfels sold 530,793 shares of the business's stock in a transaction on Monday, September 15th. The stock was sold at an average price of $19.50, for a total value of $10,350,463.50. Following the completion of the sale, the chief financial officer directly owned 1,141,150 shares in the company, valued at $22,252,425. This represents a 31.75% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 970,115 shares of company stock valued at $17,818,490. Corporate insiders own 1.90% of the company's stock.

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.

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