Mitsubishi UFJ Trust & Banking Corp Has $18.75 Million Stock Holdings in Warner Bros. Discovery, Inc. $WBD

Mitsubishi UFJ Trust & Banking Corp trimmed its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 3.2% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 959,831 shares of the company’s stock after selling 31,680 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Warner Bros. Discovery were worth $18,745,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in WBD. Norges Bank acquired a new stake in Warner Bros. Discovery in the second quarter worth about $306,848,000. Pacer Advisors Inc. boosted its stake in shares of Warner Bros. Discovery by 4,639.8% in the 3rd quarter. Pacer Advisors Inc. now owns 22,788,847 shares of the company’s stock valued at $445,066,000 after purchasing an additional 22,308,046 shares during the last quarter. Sound Shore Management Inc CT acquired a new stake in shares of Warner Bros. Discovery during the 2nd quarter worth approximately $97,951,000. Maverick Capital Ltd. bought a new stake in shares of Warner Bros. Discovery during the second quarter worth approximately $77,896,000. Finally, Duquesne Family Office LLC acquired a new position in Warner Bros. Discovery in the second quarter valued at approximately $74,916,000. Institutional investors own 59.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on WBD shares. Sanford C. Bernstein lifted their target price on shares of Warner Bros. Discovery from $16.00 to $23.50 in a report on Friday, November 7th. Raymond James Financial raised their price target on Warner Bros. Discovery from $22.00 to $25.00 and gave the stock an “outperform” rating in a research report on Friday, November 7th. Moffett Nathanson lifted their price objective 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 increased their target price on Warner Bros. Discovery from $21.00 to $25.00 and gave the company an “equal weight” rating in a research note on Friday, November 7th. Finally, The Goldman Sachs Group raised their target price on Warner Bros. Discovery from $13.00 to $14.75 and gave the stock a “buy” rating in a report on Friday, November 7th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $24.75.

Warner Bros. Discovery Stock Performance

Shares of Warner Bros. Discovery stock opened at $28.24 on Tuesday. The stock’s fifty day simple moving average is $27.32 and its 200 day simple moving average is $20.19. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.90. The company has a market capitalization of $69.98 billion, a PE ratio of 148.64 and a beta of 1.56. Warner Bros. Discovery, Inc. has a 12 month low of $7.52 and a 12 month high of $30.00.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly 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 business 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 1.34% and a net margin of 1.28%.The firm’s revenue was down 6.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.05 earnings per share. On average, research analysts predict that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Insider Buying and Selling

In other news, CAO Lori C. Locke sold 4,122 shares of the company’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $28.92, for a total value of $119,208.24. Following the completion of the transaction, the chief accounting officer owned 100,962 shares in the company, valued at $2,919,821.04. This represents a 3.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Gunnar Wiedenfels sold 242,994 shares of the stock in a transaction on Wednesday, December 10th. The stock was 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 $27,108,730. This represents a 20.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 489,326 shares of company stock valued at $12,781,456. 1.80% of the stock is owned by company insiders.

About Warner Bros. Discovery

Warner Bros. Discovery (NASDAQ: WBD) is a global media and entertainment company formed when WarnerMedia and Discovery, Inc combined their businesses in 2022. Headquartered in New York City, the company assembles a broad portfolio of film and television production, linear and cable networks, streaming services and consumer distribution operations. Its assets span well-known studio brands, premium scripted and unscripted programming, news and factual entertainment, and licensed franchise properties.

The company’s core activities include film and television production and distribution through units such as Warner Bros.