Warner Bros. Discovery, Inc. $WBD Shares Bought by Swedbank AB

Key Points

• Swedbank AB raised its stake in Warner Bros. Discovery by 3.7% in Q3 to 1,065,445 shares, valued at about $20.8 million.
• Company insiders have been notable sellers: CAO Lori C. Locke sold 5,000 shares and CFO Gunnar Wiedenfels sold 242,994 shares, with insiders selling 489,326 shares worth $12.78 million in the last 90 days (insiders now own 1.90%).
• Warner Bros. Discovery missed Q3 estimates (EPS -$0.06 vs. -$0.04 expected; revenue $9.05B vs. $9.17B expected), yet analysts hold a consensus “Moderate Buy” with an average price target of $23.22.

Swedbank AB raised its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 3.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,065,445 shares of the company's stock after purchasing an additional 37,986 shares during the quarter. Swedbank AB's holdings in Warner Bros. Discovery were worth $20,808,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of WBD. WPG Advisers LLC purchased a new stake in Warner Bros. Discovery in the first quarter valued at approximately $26,000. Financial Gravity Companies Inc. acquired a new stake in Warner Bros. Discovery during the 2nd quarter valued at approximately $29,000. Grove Bank & Trust boosted its holdings in shares of Warner Bros. Discovery by 66.5% in the 3rd quarter. Grove Bank & Trust now owns 1,690 shares of the company's stock valued at $33,000 after acquiring an additional 675 shares during the last quarter. Trifecta Capital Advisors LLC acquired a new stake in shares of Warner Bros. Discovery in the second quarter worth $34,000. Finally, Cranbrook Wealth Management LLC raised its holdings in shares of Warner Bros. Discovery by 73.8% during the third quarter. Cranbrook Wealth Management LLC now owns 1,929 shares of the company's stock worth $38,000 after purchasing an additional 819 shares during the last quarter. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Warner Bros. Discovery news, CAO Lori C. Locke sold 5,000 shares of the stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $27.62, for a total transaction of $138,100.00. Following the completion of the transaction, the chief accounting officer owned 110,084 shares of the company's stock, valued at $3,040,520.08. This represents a 4.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Gunnar Wiedenfels sold 242,994 shares of Warner Bros. Discovery stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $29.50, for a total value of $7,168,323.00. Following the completion of the sale, the chief financial officer directly owned 918,940 shares in the company, valued at $27,108,730. This represents a 20.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 489,326 shares of company stock valued at $12,781,456. Insiders own 1.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on WBD. The Goldman Sachs Group upped their price target on shares of Warner Bros. Discovery from $13.00 to $14.75 and gave the company a "buy" rating in a report on Friday, November 7th. Seaport Global Securities upped their target price on Warner Bros. Discovery from $15.00 to $24.00 and gave the stock a "buy" rating in a research note on Friday, October 3rd. Redburn Partners set a $28.00 price target on Warner Bros. Discovery in a research report on Thursday, October 30th. Bank of America upped their price objective on Warner Bros. Discovery from $16.00 to $24.00 and gave the stock a "buy" rating in a research report on Tuesday, September 30th. Finally, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Warner Bros. Discovery in a research note on Monday. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $23.22.

Warner Bros. Discovery Stock Down 1.5%

Warner Bros. Discovery stock opened at $28.80 on Friday. Warner Bros. Discovery, Inc. has a 12 month low of $7.52 and a 12 month high of $30.00. The stock has a market capitalization of $71.37 billion, a PE ratio of 151.59 and a beta of 1.60. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.07 and a quick ratio of 1.07. The business has a 50 day simple moving average of $24.48 and a 200-day simple moving average of $17.48.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.02). The company had revenue of $9.05 billion during the quarter, compared to analysts' expectations of $9.17 billion. Warner Bros. Discovery had a return on equity of 1.34% and a net margin of 1.28%.Warner Bros. Discovery's revenue was down 6.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.05 EPS. On average, analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

About Warner Bros. Discovery

Warner Bros. Discovery NASDAQ: WBD is a global media and entertainment company formed when WarnerMedia and Discovery, Inc combined their businesses in 2022. Headquartered in New York City, the company assembles a broad portfolio of film and television production, linear and cable networks, streaming services and consumer distribution operations. Its assets span well-known studio brands, premium scripted and unscripted programming, news and factual entertainment, and licensed franchise properties.

The company's core activities include film and television production and distribution through units such as Warner Bros.

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