Russell Investments Group Ltd. Has $15.58 Million Stock Position in Warner Bros. Discovery, Inc. $WBD

Russell Investments Group Ltd. reduced its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 22.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,359,679 shares of the company’s stock after selling 387,249 shares during the quarter. Russell Investments Group Ltd. owned about 0.06% of Warner Bros. Discovery worth $15,578,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Summit Investment Advisors Inc. grew its position in shares of Warner Bros. Discovery by 0.8% during the 1st quarter. Summit Investment Advisors Inc. now owns 101,522 shares of the company’s stock worth $1,089,000 after buying an additional 795 shares during the period. Premier Path Wealth Partners LLC boosted its stake in Warner Bros. Discovery by 0.6% during the second quarter. Premier Path Wealth Partners LLC now owns 134,943 shares of the company’s stock worth $1,546,000 after acquiring an additional 857 shares in the last quarter. Eastern Bank grew its holdings in Warner Bros. Discovery by 11.6% in the second quarter. Eastern Bank now owns 8,452 shares of the company’s stock worth $97,000 after purchasing an additional 879 shares during the period. Holistic Financial Partners increased its stake in Warner Bros. Discovery by 5.2% in the second quarter. Holistic Financial Partners now owns 18,209 shares of the company’s stock valued at $209,000 after purchasing an additional 898 shares in the last quarter. Finally, Parkside Financial Bank & Trust increased its stake in Warner Bros. Discovery by 12.4% in the second quarter. Parkside Financial Bank & Trust now owns 8,164 shares of the company’s stock valued at $94,000 after purchasing an additional 899 shares in the last quarter. 59.95% of the stock is currently owned by institutional investors.

Warner Bros. Discovery Trading Up 0.5%

NASDAQ WBD opened at $23.99 on Monday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.92. The business has a fifty day simple moving average of $20.87 and a 200 day simple moving average of $15.02. Warner Bros. Discovery, Inc. has a 12 month low of $7.52 and a 12 month high of $24.20. The firm has a market capitalization of $59.45 billion, a P/E ratio of 79.97, a PEG ratio of 2.56 and a beta of 1.74.

Warner Bros. Discovery (NASDAQ:WBD) last posted its earnings results on Thursday, November 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate 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 return on equity of 2.14% and a net margin of 2.00%.The business’s revenue was down 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.05 EPS. On average, analysts predict that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. KeyCorp reissued a “sector weight” rating on shares of Warner Bros. Discovery in a research report on Friday, September 26th. Arete upped their price target on Warner Bros. Discovery from $24.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, October 28th. Sanford C. Bernstein increased their price target on Warner Bros. Discovery from $16.00 to $23.50 in a report on Friday, November 7th. Redburn Partners set a $28.00 price objective on Warner Bros. Discovery in a report on Thursday, October 30th. Finally, TD Cowen upped their target price on Warner Bros. Discovery from $14.00 to $22.00 in a research report on Friday, November 7th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $21.92.

Insider Buying and Selling

In other Warner Bros. Discovery news, CAO Lori C. Locke sold 5,000 shares of Warner Bros. Discovery stock in a transaction that occurred on Friday, November 28th. The shares were sold at an average price of $23.83, for a total transaction of $119,150.00. Following the transaction, the chief accounting officer owned 140,084 shares of the company’s stock, valued at $3,338,201.72. This trade represents a 3.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 value of $10,350,463.50. Following the completion of the transaction, the chief financial officer owned 1,141,150 shares in the company, valued at $22,252,425. The trade was a 31.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 1,202,325 shares of company stock worth $23,053,615. 1.90% of the stock is owned by insiders.

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.