Warner Bros. Discovery, Inc. $WBD Shares Bought by Jump Financial LLC

Jump Financial LLC grew its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 1,616.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 569,317 shares of the company’s stock after buying an additional 536,147 shares during the quarter. Jump Financial LLC’s holdings in Warner Bros. Discovery were worth $6,524,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. WPG Advisers LLC acquired a new position in Warner Bros. Discovery during the first quarter worth $26,000. Financial Gravity Companies Inc. purchased a new stake in shares of Warner Bros. Discovery during the 2nd quarter worth $29,000. Trifecta Capital Advisors LLC purchased a new stake in shares of Warner Bros. Discovery during the 2nd quarter worth $34,000. Zions Bancorporation National Association UT acquired a new position in shares of Warner Bros. Discovery during the 1st quarter worth $42,000. Finally, Elevation Point Wealth Partners LLC purchased a new position in shares of Warner Bros. Discovery in the 2nd quarter valued at about $44,000. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Warner Bros. Discovery Trading Up 3.8%

Shares of Warner Bros. Discovery stock opened at $28.26 on Wednesday. Warner Bros. Discovery, Inc. has a 1 year low of $7.52 and a 1 year high of $28.34. 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 moving average price of $21.72 and a 200 day moving average price of $15.83. The company has a market capitalization of $70.03 billion, a P/E ratio of 148.74, a P/E/G ratio of 1.04 and a beta of 1.60.

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

Analyst Upgrades and Downgrades

A number of research firms recently commented on WBD. Bank of America boosted their price objective on shares of Warner Bros. Discovery from $16.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, September 30th. Seaport Global Securities lifted their price target on shares of Warner Bros. Discovery from $15.00 to $24.00 and gave the company a “buy” rating in a research report on Friday, October 3rd. Singular Research raised Warner Bros. Discovery to a “moderate buy” rating in a research note on Wednesday, October 22nd. Arete Research upped their price target on Warner Bros. Discovery from $24.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, October 28th. Finally, TD Cowen raised their price objective on Warner Bros. Discovery from $14.00 to $22.00 in a research note on Friday, November 7th. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $22.35.

Insider Activity at Warner Bros. Discovery

In other Warner Bros. Discovery news, CAO Lori C. Locke sold 5,000 shares of the company’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $24.14, for a total value of $120,700.00. Following the transaction, the chief accounting officer directly owned 120,084 shares in the company, valued at approximately $2,898,827.76. This represents a 4.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Gunnar Wiedenfels sold 222,210 shares of the firm’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $22.50, for a total transaction of $4,999,725.00. Following the sale, the chief financial officer directly owned 918,940 shares in the company, valued at $20,676,150. This represents a 19.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,207,325 shares of company stock valued at $23,174,315 over the last quarter. Insiders own 1.80% 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.