Warner Bros. Discovery, Inc. $WBD Shares Acquired by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments increased its stake in Warner Bros. Discovery by 8.2%, reaching approximately $9.7 million in holdings after acquiring an additional 64,733 shares in the second quarter.
• Several analysts have raised their price targets for Warner Bros. Discovery, with Bank of America increasing its target from $16.00 to $24.00, contributing to the stock's positive outlook.
• Insider trading activity revealed that Director Anton J. Levy purchased 75,000 shares, while another insider, Bruce Campbell, sold 150,000 shares, indicating mixed sentiment among company executives.

Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 8.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 850,634 shares of the company's stock after buying an additional 64,733 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Warner Bros. Discovery were worth $9,748,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. WPG Advisers LLC acquired a new stake in Warner Bros. Discovery during the 1st quarter worth about $26,000. Financial Gravity Asset Management Inc. purchased a new position in shares of Warner Bros. Discovery in the first quarter worth about $27,000. North Capital Inc. acquired a new stake in shares of Warner Bros. Discovery during the first quarter worth about $28,000. Smallwood Wealth Investment Management LLC purchased a new stake in Warner Bros. Discovery in the first quarter valued at approximately $29,000. Finally, Golden State Wealth Management LLC increased its holdings in 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 period. 59.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on WBD shares. Huber Research upgraded shares of Warner Bros. Discovery from a "strong sell" rating to a "strong-buy" rating in a research note on Monday, June 9th. Bank of America boosted their target price on shares of Warner Bros. Discovery from $16.00 to $24.00 and gave the company a "buy" rating in a research report on Tuesday, September 30th. Wells Fargo & Company increased 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. Cowen cut Warner Bros. Discovery from a "buy" rating to a "hold" rating in a report on Tuesday, September 16th. Finally, Seaport Global Securities raised their target price on Warner Bros. Discovery from $15.00 to $24.00 and gave the stock a "buy" rating in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $15.14.

Insider Buying and Selling

In related news, Director Anton J. Levy acquired 75,000 shares of Warner Bros. Discovery stock in a transaction on Tuesday, August 12th. The stock was bought at an average cost of $11.00 per share, for a total transaction of $825,000.00. Following the completion of the transaction, the director owned 949,000 shares of the company's stock, valued at approximately $10,439,000. The trade was a 8.58% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Bruce Campbell sold 150,000 shares of the stock in a transaction on Friday, September 12th. The shares were sold at an average price of $18.00, for a total transaction of $2,700,000.00. Following the transaction, the insider directly owned 252,464 shares in the company, valued at approximately $4,544,352. The trade was a 37.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 970,115 shares of company stock valued at $17,818,490. 1.90% of the stock is owned by corporate insiders.

Warner Bros. Discovery Stock Performance

NASDAQ WBD opened at $18.99 on Monday. The stock has a market capitalization of $47.01 billion, a price-to-earnings ratio of 63.30, a PEG ratio of 2.35 and a beta of 1.73. The stock has a 50-day moving average of $14.45 and a 200 day moving average of $11.54. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.92. Warner Bros. Discovery, Inc. has a twelve month low of $7.25 and a twelve month high of $20.24.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued 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 for the quarter, compared to analyst estimates of $9.73 billion. Warner Bros. Discovery had a return on equity of 2.14% and a net margin of 2.00%.Warner Bros. Discovery's quarterly revenue was up 1.0% compared to the same quarter last year. During the same period last year, the company earned ($4.07) earnings per share. Sell-side analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal 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.

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