American Century Companies Inc. Sells 297,702 Shares of Warner Bros. Discovery, Inc. $WBD

American Century Companies Inc. reduced its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 13.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,856,157 shares of the company’s stock after selling 297,702 shares during the quarter. American Century Companies Inc.’s holdings in Warner Bros. Discovery were worth $21,272,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. WPG Advisers LLC purchased a new position in shares of Warner Bros. Discovery during the 1st quarter valued at $26,000. Financial Gravity Companies Inc. purchased a new stake in Warner Bros. Discovery in the 2nd quarter worth $29,000. Trifecta Capital Advisors LLC purchased a new stake in Warner Bros. Discovery in the 2nd quarter worth $34,000. Zions Bancorporation National Association UT bought a new stake in Warner Bros. Discovery during the first quarter valued at about $42,000. Finally, ST Germain D J Co. Inc. lifted its position in shares of Warner Bros. Discovery by 4,720.5% in the second quarter. ST Germain D J Co. Inc. now owns 4,001 shares of the company’s stock valued at $46,000 after acquiring an additional 3,918 shares in the last quarter. 59.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Warner Bros. Discovery

In other Warner Bros. Discovery news, CFO Gunnar Wiedenfels sold 530,793 shares of the company’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 in the company, valued at $22,252,425. This represents a 31.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Bruce Campbell sold 289,322 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $16.48, for a total value of $4,768,026.56. Following the completion of the sale, the insider directly owned 402,464 shares of the company’s stock, valued at $6,632,606.72. The trade was a 41.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 1,202,325 shares of company stock valued at $23,053,615. Insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

WBD has been the subject of several research analyst reports. Guggenheim increased their target price on Warner Bros. Discovery from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Seaport Global Securities boosted their price target on Warner Bros. Discovery from $15.00 to $24.00 and gave the stock a “buy” rating in a report on Friday, October 3rd. Moffett Nathanson upped their price target on Warner Bros. Discovery from $23.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. Wells Fargo & Company lifted their price objective on shares of Warner Bros. Discovery from $21.00 to $25.00 and gave the company an “equal weight” rating in a research report on Friday, November 7th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Warner Bros. Discovery from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. 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 issued a Sell rating to the company. According to data from MarketBeat, Warner Bros. Discovery currently has an average rating of “Moderate Buy” and an average target price of $21.92.

Warner Bros. Discovery Trading Down 0.5%

Shares of WBD opened at $23.87 on Tuesday. The stock has a market capitalization of $59.15 billion, a PE ratio of 79.57, a P/E/G ratio of 2.56 and a beta of 1.74. The company’s fifty day moving average is $20.96 and its 200 day moving average is $15.12. 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, Inc. has a fifty-two week low of $7.52 and a fifty-two week high of $24.20.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.02). Warner Bros. Discovery had a net margin of 2.00% and a return on equity of 2.14%. The business had revenue of $9.05 billion for the quarter, compared to the consensus estimate of $9.17 billion. During the same quarter last year, the business earned $0.05 EPS. Warner Bros. Discovery’s revenue for the quarter was down 6.0% compared to the same quarter last year. Sell-side analysts expect that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

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.