RFG Advisory LLC Boosts Stock Position in Warner Bros. Discovery, Inc. $WBD

RFG Advisory LLC lifted its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 6.1% in the second quarter, Holdings Channel.com reports. The firm owned 66,888 shares of the company’s stock after purchasing an additional 3,866 shares during the quarter. RFG Advisory LLC’s holdings in Warner Bros. Discovery were worth $767,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of WBD. Independent Franchise Partners LLP purchased a new stake in Warner Bros. Discovery during the 1st quarter valued at about $140,224,000. Nuveen LLC purchased a new stake in Warner Bros. Discovery during the 1st quarter valued at about $96,971,000. KBC Group NV boosted its holdings in Warner Bros. Discovery by 682.8% during the 1st quarter. KBC Group NV now owns 7,145,308 shares of the company’s stock valued at $76,669,000 after acquiring an additional 6,232,561 shares during the period. Apollo Management Holdings L.P. purchased a new stake in Warner Bros. Discovery during the 1st quarter valued at about $65,031,000. Finally, Dimensional Fund Advisors LP boosted its holdings in Warner Bros. Discovery by 63.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 12,839,389 shares of the company’s stock valued at $137,700,000 after acquiring an additional 4,994,894 shares during the period. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Warner Bros. Discovery

In other news, CFO Gunnar Wiedenfels sold 530,793 shares of the stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $19.50, for a total value of $10,350,463.50. Following the completion of the transaction, the chief financial officer owned 1,141,150 shares of the company’s stock, valued at approximately $22,252,425. This represents a 31.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Anton J. Levy bought 250,000 shares of the firm’s stock in a transaction dated Monday, August 11th. The stock was purchased at an average cost of $10.90 per share, with a total value 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 disclosure for this purchase can be found here. In the last quarter, insiders sold 970,115 shares of company stock valued at $17,818,490. Corporate insiders own 1.90% of the company’s stock.

Warner Bros. Discovery Stock Down 0.5%

Shares of NASDAQ:WBD opened at $18.19 on Friday. Warner Bros. Discovery, Inc. has a 52-week low of $7.25 and a 52-week high of $20.24. The firm has a market capitalization of $45.03 billion, a P/E ratio of 60.64, a P/E/G ratio of 2.23 and a beta of 1.73. The stock has a 50 day moving average price of $15.52 and a 200-day moving average price of $12.04. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.04 and a current ratio of 1.04.

Warner Bros. Discovery (NASDAQ:WBD) last announced its earnings results on Thursday, August 7th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.79. Warner Bros. Discovery had a return on equity of 2.14% and a net margin of 2.00%.The firm had revenue of $9.81 billion during the quarter, compared to analyst estimates of $9.73 billion. During the same quarter in the prior year, the company earned ($4.07) EPS. The business’s revenue was up 1.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Morgan Stanley increased their target price on Warner Bros. Discovery from $13.00 to $15.00 and gave the company an “equal weight” rating in a report on Thursday, September 25th. KeyCorp restated a “sector weight” rating on shares of Warner Bros. Discovery in a report on Friday, September 26th. Raymond James Financial increased their price objective on Warner Bros. Discovery from $13.00 to $22.00 and gave the stock an “outperform” rating in a report on Thursday, October 2nd. UBS Group increased their price objective on Warner Bros. Discovery from $10.00 to $20.00 and gave the stock a “neutral” rating in a report on Monday, October 6th. Finally, Moffett Nathanson increased their price objective on Warner Bros. Discovery from $14.00 to $23.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and sixteen have given a Hold rating to the stock. According to MarketBeat, Warner Bros. Discovery has a consensus rating of “Hold” and an average target price of $17.00.

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.