US Bancorp DE Has $1.51 Million Stock Holdings in Warner Bros. Discovery, Inc. $WBD

US Bancorp DE cut its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 2.8% in the second quarter, Holdings Channel.com reports. The fund owned 132,053 shares of the company’s stock after selling 3,772 shares during the quarter. US Bancorp DE’s holdings in Warner Bros. Discovery were worth $1,513,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Warner Bros. Discovery by 1.7% in the first quarter. Vanguard Group Inc. now owns 256,820,031 shares of the company’s stock valued at $2,755,679,000 after purchasing an additional 4,169,240 shares during the period. Invesco Ltd. raised its position in shares of Warner Bros. Discovery by 2.1% in the first quarter. Invesco Ltd. now owns 43,341,297 shares of the company’s stock valued at $465,052,000 after purchasing an additional 873,869 shares during the period. Sessa Capital IM L.P. raised its position in shares of Warner Bros. Discovery by 4.0% in the first quarter. Sessa Capital IM L.P. now owns 29,555,277 shares of the company’s stock valued at $317,128,000 after purchasing an additional 1,144,849 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Warner Bros. Discovery by 4.5% in the first quarter. The Manufacturers Life Insurance Company now owns 24,672,364 shares of the company’s stock valued at $264,734,000 after purchasing an additional 1,063,535 shares during the period. Finally, Northern Trust Corp raised its position in shares of Warner Bros. Discovery by 1.9% in the first quarter. Northern Trust Corp now owns 23,427,661 shares of the company’s stock valued at $251,379,000 after purchasing an additional 430,787 shares during the period. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WBD has been the topic of a number of recent analyst reports. Moffett Nathanson lifted their price target on shares of Warner Bros. Discovery from $14.00 to $23.00 and gave the company a “buy” rating in a research report on Monday, September 22nd. Bank of America lifted their price target on shares of Warner Bros. Discovery from $16.00 to $24.00 and gave the company a “buy” rating in a research report on Tuesday, September 30th. Morgan Stanley lifted their price target on shares of Warner Bros. Discovery from $13.00 to $15.00 and gave the company an “equal weight” rating in a research report on Thursday, September 25th. Weiss Ratings raised shares of Warner Bros. Discovery from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, October 8th. Finally, Seaport Global Securities lifted their price target on shares of Warner Bros. Discovery from $15.00 to $24.00 and gave the company a “buy” rating in a research report on Friday, October 3rd. One 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. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $17.00.

Warner Bros. Discovery Trading Down 0.9%

Shares of WBD stock opened at $18.29 on Friday. Warner Bros. Discovery, Inc. has a 1 year low of $7.25 and a 1 year high of $20.24. The firm’s fifty day simple moving average is $15.38 and its 200 day simple moving average is $11.99. The firm has a market capitalization of $45.28 billion, a P/E ratio of 60.97, a price-to-earnings-growth ratio of 2.25 and a beta of 1.73. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.92.

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 analysts’ consensus estimates of ($0.16) by $0.79. Warner Bros. Discovery had a net margin of 2.00% and a return on equity of 2.14%. The business had revenue of $9.81 billion for the quarter, compared to analyst estimates of $9.73 billion. During the same quarter in the previous year, the firm posted ($4.07) earnings per share. Warner Bros. Discovery’s revenue was up 1.0% compared to the same quarter last year. As a group, sell-side analysts predict that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Insider Buying and Selling at Warner Bros. Discovery

In other Warner Bros. Discovery news, insider Bruce Campbell sold 150,000 shares of the business’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $18.00, for a total value of $2,700,000.00. Following the sale, the insider owned 252,464 shares of the company’s stock, valued at $4,544,352. The trade was a 37.27% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Anton J. Levy purchased 75,000 shares of the stock in a transaction on Tuesday, August 12th. The stock was acquired at an average cost of $11.00 per share, for a total transaction of $825,000.00. Following the acquisition, the director directly owned 949,000 shares in the company, valued at approximately $10,439,000. This trade represents a 8.58% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 970,115 shares of company stock valued at $17,818,490 in the last 90 days. 1.90% of the stock is currently owned by company 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.