Towerview LLC Has $974,000 Holdings in Warner Bros. Discovery, Inc. $WBD

Towerview LLC decreased its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 15.0% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 85,000 shares of the company’s stock after selling 15,000 shares during the period. Warner Bros. Discovery accounts for about 0.7% of Towerview LLC’s investment portfolio, making the stock its 14th biggest holding. Towerview LLC’s holdings in Warner Bros. Discovery were worth $974,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of WBD. Voya Investment Management LLC boosted its holdings in Warner Bros. Discovery by 34.9% in the first quarter. Voya Investment Management LLC now owns 7,035,842 shares of the company’s stock worth $75,495,000 after acquiring an additional 1,820,249 shares in the last quarter. Bfsg LLC grew its position in Warner Bros. Discovery by 11.2% in the 2nd quarter. Bfsg LLC now owns 156,906 shares of the company’s stock valued at $1,798,000 after purchasing an additional 15,786 shares during the period. Country Club Bank increased its stake in Warner Bros. Discovery by 54.3% during the 2nd quarter. Country Club Bank now owns 502,878 shares of the company’s stock valued at $5,683,000 after purchasing an additional 176,994 shares in the last quarter. Kingstone Capital Partners Texas LLC bought a new position in shares of Warner Bros. Discovery in the second quarter valued at $4,089,000. Finally, Mn Services Vermogensbeheer B.V. boosted its stake in Warner Bros. Discovery by 4.3% during the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 878,600 shares of the company’s stock valued at $10,069,000 after purchasing an additional 36,100 shares during the last quarter. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Warner Bros. Discovery Stock Performance

NASDAQ:WBD opened at $22.42 on Friday. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.04 and a quick ratio of 1.04. The company has a market capitalization of $55.51 billion, a P/E ratio of 74.74, a P/E/G ratio of 2.56 and a beta of 1.73. Warner Bros. Discovery, Inc. has a 1 year low of $7.52 and a 1 year high of $23.06. The business has a fifty day simple moving average of $18.22 and a two-hundred day simple moving average of $13.32.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings data 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). The firm had revenue of $9.05 billion during the quarter, compared to the consensus estimate of $9.17 billion. Warner Bros. Discovery had a net margin of 2.00% and a return on equity of 2.14%. The company’s revenue was down 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.05 earnings per share. On average, analysts expect that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Insider Buying and Selling

In other Warner Bros. Discovery news, CFO Gunnar Wiedenfels sold 530,793 shares of Warner Bros. Discovery stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $19.50, for a total transaction of $10,350,463.50. Following the completion of the sale, the chief financial officer directly owned 1,141,150 shares in the company, valued at $22,252,425. The trade was a 31.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Anton J. Levy bought 250,000 shares of Warner Bros. Discovery stock in a transaction that occurred on Monday, August 11th. The stock was purchased at an average cost of $10.90 per share, for a total transaction of $2,725,000.00. Following the purchase, the director owned 874,000 shares of the company’s stock, valued at $9,526,600. The trade was a 40.06% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders sold 1,192,325 shares of company stock valued at $22,818,215. Company insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

WBD has been the topic of a number of recent research reports. Arete Research upgraded Warner Bros. Discovery to a “strong-buy” rating in a report on Tuesday, October 28th. The Goldman Sachs Group increased their price target on Warner Bros. Discovery from $11.50 to $13.00 and gave the company a “neutral” rating in a research report on Tuesday, September 30th. TD Cowen restated a “hold” rating and set a $14.00 price objective on shares of Warner Bros. Discovery in a research note on Tuesday, September 16th. Moffett Nathanson upped their target price on shares of Warner Bros. Discovery from $14.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, September 22nd. Finally, Rothschild & Co Redburn upgraded shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and set a $28.00 target price for the company in a report on Thursday, October 30th. Three investment 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 stock. Based on data from MarketBeat, Warner Bros. Discovery currently has an average rating of “Moderate Buy” and an average price target of $19.91.

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.