Nissay Asset Management Corp Japan Boosts Holdings in Warner Bros. Discovery, Inc. $WBD

Nissay Asset Management Corp Japan lifted its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 6.8% in the second quarter, HoldingsChannel reports. The fund owned 725,239 shares of the company’s stock after buying an additional 46,422 shares during the period. Nissay Asset Management Corp Japan’s holdings in Warner Bros. Discovery were worth $19,335,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Venturi Wealth Management LLC raised its position in Warner Bros. Discovery by 4.5% in the 1st quarter. Venturi Wealth Management LLC now owns 8,462 shares of the company’s stock worth $232,000 after purchasing an additional 367 shares during the period. Krilogy Financial LLC increased its holdings in shares of Warner Bros. Discovery by 2.6% in the first quarter. Krilogy Financial LLC now owns 14,809 shares of the company’s stock worth $406,000 after buying an additional 369 shares during the period. Cromwell Holdings LLC lifted its stake in shares of Warner Bros. Discovery by 7.6% in the 2nd quarter. Cromwell Holdings LLC now owns 5,467 shares of the company’s stock valued at $146,000 after acquiring an additional 386 shares during the last quarter. Elevation Wealth Partners LLC boosted its holdings in Warner Bros. Discovery by 64.3% during the 2nd quarter. Elevation Wealth Partners LLC now owns 1,009 shares of the company’s stock valued at $27,000 after acquiring an additional 395 shares during the period. Finally, Optas LLC boosted its holdings in Warner Bros. Discovery by 2.7% during the 1st quarter. Optas LLC now owns 15,529 shares of the company’s stock valued at $426,000 after acquiring an additional 409 shares during the period. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Insider Transactions at Warner Bros. Discovery

In other Warner Bros. Discovery news, CEO David Zaslav sold 194,999 shares of the firm’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $28.02, for a total transaction of $5,463,871.98. Following the completion of the transaction, the chief executive officer owned 6,807,934 shares of the company’s stock, valued at approximately $190,758,310.68. This trade represents a 2.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kenneth W. Lowe sold 120,000 shares of the business’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $26.97, for a total transaction of $3,236,400.00. Following the sale, the director owned 990,108 shares in the company, valued at approximately $26,703,212.76. This trade represents a 10.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 1,750,749 shares of company stock valued at $48,329,633 in the last three months. Company insiders own 0.70% of the company’s stock.

Warner Bros. Discovery Stock Performance

Shares of WBD opened at $28.77 on Friday. The company has a 50-day simple moving average of $26.95 and a two-hundred day simple moving average of $27.24. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.78 and a quick ratio of 0.78. The firm has a market capitalization of $72.23 billion, a PE ratio of -22.65 and a beta of 1.55. Warner Bros. Discovery, Inc. has a one year low of $11.25 and a one year high of $30.00.

Warner Bros. Discovery (NASDAQ:WBD) last posted its earnings results on Thursday, August 6th. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.20. The firm had revenue of $8.72 billion for the quarter, compared to the consensus estimate of $9.25 billion. Warner Bros. Discovery had a negative return on equity of 8.91% and a negative net margin of 8.77%.The business’s revenue for the quarter was down 11.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.63 EPS. On average, analysts anticipate that Warner Bros. Discovery, Inc. will post -1.11 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on WBD. Weiss Ratings raised Warner Bros. Discovery from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Tuesday, August 18th. UBS Group raised their target price on shares of Warner Bros. Discovery from $30.00 to $31.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Guggenheim reaffirmed a “neutral” rating on shares of Warner Bros. Discovery in a research note on Thursday, May 7th. Huber Research upgraded shares of Warner Bros. Discovery from an “underweight” rating to an “overweight” rating in a report on Monday, June 1st. Finally, Zacks Research raised shares of Warner Bros. Discovery from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 25th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $27.69.

Warner Bros. Discovery Company Profile

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.