Edgestream Partners L.P. Invests $2.62 Million in Warner Bros. Discovery, Inc. $WBD

Edgestream Partners L.P. purchased a new position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) during the second quarter, HoldingsChannel reports. The fund purchased 228,493 shares of the company’s stock, valued at approximately $2,619,000.

A number of other institutional investors have also recently bought and sold shares of the business. Norges Bank acquired a new position in shares of Warner Bros. Discovery during the 2nd quarter worth approximately $306,848,000. Independent Franchise Partners LLP acquired a new position in Warner Bros. Discovery in the 1st quarter valued at $140,224,000. Nuveen LLC acquired a new position in Warner Bros. Discovery in the 1st quarter valued at $96,971,000. Sound Shore Management Inc CT bought a new stake in shares of Warner Bros. Discovery during the 2nd quarter valued at $97,951,000. Finally, Apollo Management Holdings L.P. bought a new position in shares of Warner Bros. Discovery in the first quarter worth $65,031,000. Institutional investors own 59.95% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on WBD shares. Arete upped their price objective on shares of Warner Bros. Discovery from $24.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, October 28th. Arete Research raised shares of Warner Bros. Discovery to a “strong-buy” rating in a research note on Tuesday, October 28th. Wells Fargo & Company boosted 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. TD Cowen raised their target price on Warner Bros. Discovery from $14.00 to $22.00 in a report on Friday, November 7th. Finally, Singular Research raised Warner Bros. Discovery to a “moderate buy” rating in a report on Wednesday, October 22nd. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $21.92.

Warner Bros. Discovery Stock Down 0.1%

Shares of WBD opened at $24.54 on Friday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.07 and a current ratio of 1.07. Warner Bros. Discovery, Inc. has a 52 week low of $7.52 and a 52 week high of $24.75. The stock has a market capitalization of $60.81 billion, a price-to-earnings ratio of 129.16, a PEG ratio of 1.00 and a beta of 1.60. The stock has a fifty day moving average of $21.25 and a 200-day moving average of $15.36.

Warner Bros. Discovery (NASDAQ:WBD) last issued its earnings results 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). Warner Bros. Discovery had a return on equity of 1.34% and a net margin of 1.28%.The firm had revenue of $9.05 billion during the quarter, compared to analyst estimates of $9.17 billion. During the same period in the previous year, the company earned $0.05 EPS. Warner Bros. Discovery’s revenue for the quarter was down 6.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Insider Activity at Warner Bros. Discovery

In other news, CFO Gunnar Wiedenfels sold 530,793 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer 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. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Lori C. Locke sold 5,000 shares of Warner Bros. Discovery stock in a transaction on Friday, November 28th. The stock was 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 in the company, valued at approximately $3,338,201.72. This trade represents a 3.45% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,202,325 shares of company stock worth $23,053,615 in the last quarter. 1.90% of the stock is owned by insiders.

Warner Bros. Discovery Company 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.