Principal Financial Group Inc. Has $27.81 Million Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Principal Financial Group Inc. cut its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBDFree Report) by 0.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,560,650 shares of the company’s stock after selling 1,573 shares during the period. Principal Financial Group Inc. owned about 0.11% of Warner Bros. Discovery worth $27,809,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Providence Capital Advisors LLC grew its position in Warner Bros. Discovery by 1,410.1% in the 1st quarter. Providence Capital Advisors LLC now owns 2,099 shares of the company’s stock valued at $139,000 after purchasing an additional 1,960 shares during the period. KB Financial Partners LLC purchased a new position in Warner Bros. Discovery during the 1st quarter worth $32,000. Country Trust Bank boosted its holdings in Warner Bros. Discovery by 76.0% during the 3rd quarter. Country Trust Bank now owns 2,314 shares of the company’s stock worth $25,000 after acquiring an additional 999 shares during the last quarter. Capital Advisors Ltd. LLC boosted its holdings in Warner Bros. Discovery by 156.8% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 2,324 shares of the company’s stock worth $29,000 after acquiring an additional 1,419 shares during the last quarter. Finally, Peoples Bank KS purchased a new position in Warner Bros. Discovery during the 3rd quarter worth $27,000. Institutional investors own 58.26% of the company’s stock.

Warner Bros. Discovery Trading Up 0.3 %

Shares of NASDAQ:WBD traded up $0.03 during trading on Friday, reaching $10.61. 5,139,957 shares of the company traded hands, compared to its average volume of 17,479,586. The firm has a market capitalization of $25.87 billion, a price-to-earnings ratio of -5.34 and a beta of 1.57. Warner Bros. Discovery, Inc. has a 52-week low of $9.27 and a 52-week high of $16.34. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.95. The business’s fifty day moving average is $11.09 and its 200-day moving average is $11.49.

Warner Bros. Discovery (NASDAQ:WBDGet Free Report) last released its quarterly earnings data on Wednesday, November 8th. The company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.16). The company had revenue of $9.98 billion for the quarter, compared to analysts’ expectations of $9.97 billion. Warner Bros. Discovery had a negative net margin of 11.48% and a negative return on equity of 0.47%. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period last year, the company posted $0.17 EPS. As a group, analysts forecast that Warner Bros. Discovery, Inc. will post -1.19 EPS for the current year.

Insider Activity at Warner Bros. Discovery

In other Warner Bros. Discovery news, Director Programming P. Advance/Newhouse sold 10,000,000 shares of the stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $12.49, for a total value of $124,900,000.00. Following the completion of the transaction, the director now owns 184,023,290 shares in the company, valued at $2,298,450,892.10. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

WBD has been the topic of a number of analyst reports. Redburn Atlantic downgraded shares of Warner Bros. Discovery from a “buy” rating to a “neutral” rating and set a $11.00 price objective on the stock. in a report on Thursday, January 11th. Sanford C. Bernstein assumed coverage on shares of Warner Bros. Discovery in a report on Thursday, October 5th. They issued an “outperform” rating and a $19.00 price target on the stock. Seaport Res Ptn reissued a “buy” rating on shares of Warner Bros. Discovery in a report on Friday, October 6th. The Goldman Sachs Group cut their price target on shares of Warner Bros. Discovery from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, November 9th. Finally, Morgan Stanley cut their price target on shares of Warner Bros. Discovery from $15.00 to $14.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 7th. One research analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Warner Bros. Discovery has an average rating of “Moderate Buy” and a consensus target price of $16.00.

Read Our Latest Stock Report on WBD

Warner Bros. Discovery Company Profile

(Free Report)

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 third parties and networks 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.

Further Reading

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Institutional Ownership by Quarter for Warner Bros. Discovery (NASDAQ:WBD)

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