Swedbank AB Boosts Stake in Warner Bros. Discovery, Inc. $WBD

Swedbank AB lifted its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 44.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,535,742 shares of the company’s stock after buying an additional 470,297 shares during the period. Swedbank AB’s holdings in Warner Bros. Discovery were worth $44,260,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Concord Wealth Partners lifted its stake in shares of Warner Bros. Discovery by 49.9% in the third quarter. Concord Wealth Partners now owns 1,321 shares of the company’s stock worth $26,000 after buying an additional 440 shares in the last quarter. Physician Wealth Advisors Inc. lifted its stake in shares of Warner Bros. Discovery by 152.1% in the third quarter. Physician Wealth Advisors Inc. now owns 1,404 shares of the company’s stock worth $27,000 after buying an additional 847 shares in the last quarter. Rakuten Securities Inc. lifted its stake in shares of Warner Bros. Discovery by 81.5% in the fourth quarter. Rakuten Securities Inc. now owns 1,160 shares of the company’s stock worth $33,000 after buying an additional 521 shares in the last quarter. JPL Wealth Management LLC purchased a new position in shares of Warner Bros. Discovery in the third quarter worth about $33,000. Finally, TOWER TRUST & INVESTMENT Co lifted its stake in shares of Warner Bros. Discovery by 4,730.8% in the fourth quarter. TOWER TRUST & INVESTMENT Co now owns 1,256 shares of the company’s stock worth $36,000 after buying an additional 1,230 shares in the last quarter. 59.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Warner Bros. Discovery news, Director Fazal F. Merchant sold 35,000 shares of Warner Bros. Discovery stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $27.48, for a total transaction of $961,800.00. Following the completion of the sale, the director directly owned 95,539 shares in the company, valued at $2,625,411.72. This trade represents a 26.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Bruce Campbell sold 41,784 shares of Warner Bros. Discovery stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $27.82, for a total transaction of $1,162,430.88. Following the sale, the insider owned 604,666 shares of the company’s stock, valued at approximately $16,821,808.12. This represents a 6.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 8,206,827 shares of company stock valued at $230,674,025 in the last quarter. Insiders own 1.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on WBD shares. Arete Research reissued a “neutral” rating and issued a $31.25 price target on shares of Warner Bros. Discovery in a research note on Friday, February 27th. Weiss Ratings downgraded shares of Warner Bros. Discovery from a “hold (c-)” rating to a “sell (d-)” rating in a research note on Thursday, May 7th. Raymond James Financial restated an “underperform” rating on shares of Warner Bros. Discovery in a research report on Friday, February 27th. Zacks Research cut shares of Warner Bros. Discovery from a “hold” rating to a “strong sell” rating in a research report on Friday, May 1st. Finally, Benchmark restated a “hold” rating on shares of Warner Bros. Discovery in a research report on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, thirteen have assigned a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $26.36.

Warner Bros. Discovery Price Performance

Warner Bros. Discovery stock opened at $27.03 on Monday. Warner Bros. Discovery, Inc. has a 12-month low of $8.84 and a 12-month high of $30.00. The stock has a market cap of $67.77 billion, a P/E ratio of -38.61 and a beta of 1.57. The company has a 50-day moving average price of $27.26 and a 200 day moving average price of $27.13. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.92.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($1.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($1.07). Warner Bros. Discovery had a negative return on equity of 4.77% and a negative net margin of 4.67%.The firm had revenue of $8.89 billion for the quarter, compared to analyst estimates of $8.89 billion. During the same quarter in the previous year, the business posted ($0.18) earnings per share. Warner Bros. Discovery’s revenue for the quarter was down 1.0% on a year-over-year basis. Sell-side analysts anticipate that Warner Bros. Discovery, Inc. will post -0.71 earnings per share for the current year.

Warner Bros. Discovery Company 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.