Allianz Asset Management GmbH Raises Stock Holdings in Warner Bros. Discovery, Inc. $WBD

Allianz Asset Management GmbH raised its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 170.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,326,978 shares of the company’s stock after purchasing an additional 5,873,183 shares during the quarter. Allianz Asset Management GmbH owned 0.38% of Warner Bros. Discovery worth $182,156,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Brighton Jones LLC boosted its position in Warner Bros. Discovery by 304.9% in the fourth quarter. Brighton Jones LLC now owns 68,950 shares of the company’s stock valued at $729,000 after buying an additional 51,920 shares during the last quarter. NewEdge Advisors LLC raised its position in Warner Bros. Discovery by 50.5% during the 1st quarter. NewEdge Advisors LLC now owns 63,254 shares of the company’s stock worth $679,000 after buying an additional 21,228 shares during the last quarter. Empowered Funds LLC lifted its stake in Warner Bros. Discovery by 6.2% during the 1st quarter. Empowered Funds LLC now owns 65,082 shares of the company’s stock valued at $698,000 after acquiring an additional 3,779 shares during the period. Focus Partners Wealth boosted its holdings in shares of Warner Bros. Discovery by 91.6% in the 1st quarter. Focus Partners Wealth now owns 116,821 shares of the company’s stock valued at $1,254,000 after acquiring an additional 55,837 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Warner Bros. Discovery by 8.2% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 850,634 shares of the company’s stock worth $9,748,000 after acquiring an additional 64,733 shares during the period. 59.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on WBD. Singular Research raised shares of Warner Bros. Discovery to a “moderate buy” rating in a report on Wednesday, October 22nd. Weiss Ratings raised Warner Bros. Discovery from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, January 20th. Guggenheim lowered Warner Bros. Discovery from a “buy” rating to a “neutral” rating and raised their target price for the stock from $25.00 to $30.00 in a report on Wednesday, January 14th. TD Cowen lifted their price target on Warner Bros. Discovery from $14.00 to $22.00 in a research report on Friday, November 7th. Finally, Sanford C. Bernstein boosted their price target on Warner Bros. Discovery from $16.00 to $23.50 in a report on Friday, November 7th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $25.08.

Warner Bros. Discovery Stock Down 0.1%

Shares of WBD opened at $27.52 on Tuesday. The firm has a market cap of $68.19 billion, a P/E ratio of 144.85 and a beta of 1.64. Warner Bros. Discovery, Inc. has a 12 month low of $7.52 and a 12 month high of $30.00. The stock’s 50 day moving average is $27.78 and its two-hundred day moving average is $20.74. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.90.

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

Insider Buying and Selling at Warner Bros. Discovery

In related news, CFO Gunnar Wiedenfels sold 242,994 shares of the firm’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $29.50, for a total value of $7,168,323.00. Following the transaction, the chief financial officer directly owned 918,940 shares of the company’s stock, valued at approximately $27,108,730. This trade represents a 20.91% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Lori C. Locke sold 5,000 shares of Warner Bros. Discovery stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $27.62, for a total value of $138,100.00. Following the completion of the sale, the chief accounting officer owned 110,084 shares in the company, valued at approximately $3,040,520.08. The trade was a 4.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 267,116 shares of company stock worth $7,781,731. Insiders own 1.80% of the company’s stock.

Warner Bros. Discovery Profile

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.