Warner Bros. Discovery, Inc. $WBD Shares Purchased by Praxis Investment Management Inc.

Key Points

• Praxis Investment Management Inc. has increased its stake in Warner Bros. Discovery by 47.4%, owning now 69,357 shares valued at approximately $795,000.
• Recent analyst ratings reveal a mixed sentiment with one Strong Buy, seven Buy, and sixteen Hold ratings, as the consensus target price stands at $17.00.
• Insider trading shows Director Anton J. Levy purchased 250,000 shares, while CFO Gunnar Wiedenfels sold over 530,000 shares, indicating significant activity within the company.

Praxis Investment Management Inc. grew its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 47.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 69,357 shares of the company's stock after purchasing an additional 22,310 shares during the quarter. Praxis Investment Management Inc.'s holdings in Warner Bros. Discovery were worth $795,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WBD. WPG Advisers LLC acquired a new stake in Warner Bros. Discovery during the first quarter worth approximately $26,000. Financial Gravity Asset Management Inc. acquired a new stake in Warner Bros. Discovery during the first quarter worth approximately $27,000. North Capital Inc. acquired a new stake in Warner Bros. Discovery during the first quarter worth approximately $28,000. Smallwood Wealth Investment Management LLC acquired a new stake in Warner Bros. Discovery during the first quarter worth approximately $29,000. Finally, Golden State Wealth Management LLC raised its holdings in Warner Bros. Discovery by 448.0% during the first quarter. Golden State Wealth Management LLC now owns 2,877 shares of the company's stock worth $31,000 after purchasing an additional 2,352 shares in the last quarter. Institutional investors and hedge funds own 59.95% of the company's stock.

Analysts Set New Price Targets

WBD has been the topic of a number of research analyst reports. Weiss Ratings raised shares of Warner Bros. Discovery from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, October 8th. Cowen lowered shares of Warner Bros. Discovery from a "buy" rating to a "hold" rating in a research report on Tuesday, September 16th. Morgan Stanley raised their target price on shares of Warner Bros. Discovery from $13.00 to $15.00 and gave the stock an "equal weight" rating in a research report on Thursday, September 25th. Barrington Research restated an "outperform" rating and set a $16.00 target price on shares of Warner Bros. Discovery in a research report on Wednesday, July 30th. Finally, KeyCorp restated a "sector weight" rating on shares of Warner Bros. Discovery in a research report on Friday, September 26th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and sixteen have given a Hold rating to the company. Based on data from MarketBeat.com, Warner Bros. Discovery presently has an average rating of "Hold" and a consensus target price of $17.00.

Insider Activity at Warner Bros. Discovery

In other news, Director Anton J. Levy acquired 250,000 shares of the stock in a transaction that occurred on Monday, August 11th. The shares were purchased at an average cost of $10.90 per share, for a total transaction of $2,725,000.00. Following the transaction, the director directly owned 874,000 shares in the company, valued at approximately $9,526,600. This represents a 40.06% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Gunnar Wiedenfels sold 530,793 shares of Warner Bros. Discovery stock in a transaction on Monday, September 15th. The shares were sold at an average price of $19.50, for a total transaction of $10,350,463.50. Following the completion of the transaction, the chief financial officer owned 1,141,150 shares in the company, valued at approximately $22,252,425. This trade represents a 31.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 970,115 shares of company stock worth $17,818,490 in the last three months. Insiders own 1.90% of the company's stock.

Warner Bros. Discovery Stock Performance

NASDAQ:WBD opened at $18.19 on Friday. The firm's fifty day moving average price is $15.52 and its 200 day moving average price is $12.04. Warner Bros. Discovery, Inc. has a 1-year low of $7.25 and a 1-year high of $20.24. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a market cap of $45.03 billion, a price-to-earnings ratio of 60.64, a price-to-earnings-growth ratio of 2.23 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 earnings per share for the quarter, beating analysts' consensus estimates 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 firm had revenue of $9.81 billion for the quarter, compared to analyst estimates of $9.73 billion. During the same period last year, the firm posted ($4.07) EPS. Warner Bros. Discovery's quarterly revenue was up 1.0% on a year-over-year basis. On average, sell-side analysts expect that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Warner Bros. Discovery 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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