210,000 Shares in Warner Bros. Discovery, Inc. $WBD Acquired by Hussman Strategic Advisors Inc.

Hussman Strategic Advisors Inc. purchased a new stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) during the 2nd quarter, HoldingsChannel reports. The fund purchased 210,000 shares of the company’s stock, valued at approximately $2,407,000.

Several other hedge funds have also recently bought and sold shares of the stock. iA Global Asset Management Inc. boosted its stake in shares of Warner Bros. Discovery by 1.4% in the 2nd quarter. iA Global Asset Management Inc. now owns 273,996 shares of the company’s stock valued at $3,140,000 after purchasing an additional 3,781 shares in the last quarter. Plato Investment Management Ltd lifted its holdings in Warner Bros. Discovery by 341.5% during the 2nd quarter. Plato Investment Management Ltd now owns 51,049 shares of the company’s stock valued at $583,000 after purchasing an additional 39,487 shares during the last quarter. Kovack Advisors Inc. boosted its position in Warner Bros. Discovery by 37.0% in the second quarter. Kovack Advisors Inc. now owns 42,730 shares of the company’s stock valued at $490,000 after buying an additional 11,534 shares in the last quarter. Terril Brothers Inc. grew its stake in Warner Bros. Discovery by 90.3% during the second quarter. Terril Brothers Inc. now owns 1,399,979 shares of the company’s stock worth $16,044,000 after buying an additional 664,417 shares during the last quarter. Finally, Strs Ohio increased its holdings in shares of Warner Bros. Discovery by 39.7% during the second quarter. Strs Ohio now owns 1,779,871 shares of the company’s stock worth $20,397,000 after buying an additional 505,864 shares in the last quarter. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on WBD. Moffett Nathanson boosted their target price on Warner Bros. Discovery from $14.00 to $23.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. KeyCorp reissued a “sector weight” rating on shares of Warner Bros. Discovery in a research note on Friday, September 26th. Barrington Research increased their target price on Warner Bros. Discovery from $16.00 to $25.00 and gave the stock an “outperform” rating in a report on Tuesday, October 28th. Arete Research upgraded Warner Bros. Discovery to a “strong-buy” rating in a research note on Tuesday, October 28th. Finally, Sanford C. Bernstein upped their price target on shares of Warner Bros. Discovery from $13.00 to $16.00 and gave the stock a “market perform” rating in a research report on Monday, September 22nd. Three research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and fifteen have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $19.91.

Warner Bros. Discovery Stock Down 0.7%

NASDAQ WBD opened at $22.29 on Tuesday. The stock has a market capitalization of $55.18 billion, a P/E ratio of 74.30, a price-to-earnings-growth ratio of 2.56 and a beta of 1.73. Warner Bros. Discovery, Inc. has a 52 week low of $7.52 and a 52 week high of $22.56. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a fifty day moving average of $17.58 and a 200-day moving average of $13.09.

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

Insider Activity

In other news, insider Bruce Campbell sold 289,322 shares of Warner Bros. Discovery stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $16.48, for a total transaction of $4,768,026.56. Following the completion of the sale, the insider owned 402,464 shares in the company, valued at $6,632,606.72. The trade was a 41.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Gunnar Wiedenfels sold 530,793 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $19.50, for a total transaction of $10,350,463.50. Following the sale, the chief financial officer directly owned 1,141,150 shares of the company’s stock, valued at approximately $22,252,425. This trade represents a 31.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 1,192,325 shares of company stock valued at $22,818,215. 1.90% of the stock is currently owned by insiders.

About Warner Bros. Discovery

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.