Thrivent Financial for Lutherans Acquires 2,407,202 Shares of Warner Bros. Discovery, Inc. $WBD

Thrivent Financial for Lutherans lifted its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 52.8% during the 2nd quarter, HoldingsChannel reports. The fund owned 6,963,870 shares of the company’s stock after buying an additional 2,407,202 shares during the period. Thrivent Financial for Lutherans’ holdings in Warner Bros. Discovery were worth $79,805,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. WPG Advisers LLC acquired a new stake in Warner Bros. Discovery in the 1st quarter worth $26,000. Financial Gravity Companies Inc. acquired a new position in shares of Warner Bros. Discovery during the second quarter valued at about $29,000. Trifecta Capital Advisors LLC bought a new stake in shares of Warner Bros. Discovery in the second quarter valued at about $34,000. Elevation Point Wealth Partners LLC acquired a new stake in Warner Bros. Discovery during the second quarter worth about $44,000. Finally, ST Germain D J Co. Inc. increased its stake in Warner Bros. Discovery by 4,720.5% during 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 during the period. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Warner Bros. Discovery Stock Performance

Warner Bros. Discovery stock opened at $29.98 on Monday. The firm has a market capitalization of $74.29 billion, a P/E ratio of 157.80 and a beta of 1.60. The stock has a fifty day moving average price of $22.35 and a two-hundred day moving average price of $16.26. Warner Bros. Discovery, Inc. has a 52-week low of $7.52 and a 52-week high of $30.00. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.07 and a quick ratio of 1.07.

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

Analysts Set New Price Targets

A number of brokerages have commented on WBD. Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a research report on Friday, September 12th. Argus set a $28.00 target price on Warner Bros. Discovery in a research report on Monday, December 8th. Moffett Nathanson lifted their price target on shares of Warner Bros. Discovery from $23.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. Redburn Partners set a $28.00 price target on shares of Warner Bros. Discovery in a report on Thursday, October 30th. Finally, Guggenheim raised their price objective on shares of Warner Bros. Discovery from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.58.

Insider Transactions at Warner Bros. Discovery

In other Warner Bros. Discovery news, CFO Gunnar Wiedenfels sold 242,994 shares of the company’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $29.50, for a total transaction of $7,168,323.00. Following the sale, the chief financial officer directly owned 918,940 shares of the company’s stock, valued at approximately $27,108,730. This represents a 20.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Lori C. Locke sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $27.62, for a total transaction of $138,100.00. Following the sale, the chief accounting officer directly owned 110,084 shares of the company’s stock, valued at approximately $3,040,520.08. The trade was a 4.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 489,326 shares of company stock worth $12,781,456. Company insiders own 1.80% of the company’s stock.

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.