BTG Pactual Asset Management US LLC grew its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 45.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 206,400 shares of the company's stock after purchasing an additional 64,400 shares during the period. BTG Pactual Asset Management US LLC's holdings in Warner Bros. Discovery were worth $5,503,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Swiss RE Ltd. purchased a new position in Warner Bros. Discovery during the fourth quarter valued at $26,000. Harbor Investment Advisory LLC increased its holdings in shares of Warner Bros. Discovery by 111.2% during the second quarter. Harbor Investment Advisory LLC now owns 942 shares of the company's stock valued at $25,000 after acquiring an additional 496 shares in the last quarter. Field & Main Bank bought a new position in shares of Warner Bros. Discovery during the second quarter valued at $26,000. Fideuram Asset Management Ireland dac purchased a new position in shares of Warner Bros. Discovery in the 4th quarter worth about $29,000. Finally, Elevation Wealth Partners LLC raised its position in shares of Warner Bros. Discovery by 64.3% in the 2nd quarter. Elevation Wealth Partners LLC now owns 1,009 shares of the company's stock worth $27,000 after purchasing an additional 395 shares during the last quarter. Hedge funds and other institutional investors own 59.95% of the company's stock.
Insider Activity at Warner Bros. Discovery
In related news, Director Fazal F. Merchant sold 71,539 shares of the firm's stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $27.75, for a total value of $1,985,207.25. Following the sale, the director owned 33,067 shares in the company, valued at approximately $917,609.25. This trade represents a 68.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kenneth W. Lowe sold 120,000 shares of Warner Bros. Discovery stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $26.97, for a total transaction of $3,236,400.00. Following the completion of the sale, the director directly owned 990,108 shares of the company's stock, valued at approximately $26,703,212.76. This trade represents a 10.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,750,749 shares of company stock worth $48,329,633 in the last three months. 0.70% of the stock is currently owned by company insiders.
Warner Bros. Discovery Price Performance
Shares of NASDAQ:WBD opened at $28.77 on Monday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.78 and a current ratio of 0.78. The firm has a market cap of $72.23 billion, a price-to-earnings ratio of -22.65 and a beta of 1.55. The business has a 50-day simple moving average of $26.95 and a two-hundred day simple moving average of $27.24. Warner Bros. Discovery, Inc. has a fifty-two week low of $11.25 and a fifty-two week high of $30.00.
Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.14) by $0.20. Warner Bros. Discovery had a negative net margin of 8.77% and a negative return on equity of 8.91%. The firm had revenue of $8.72 billion for the quarter, compared to the consensus estimate of $9.25 billion. During the same quarter last year, the firm posted $0.63 EPS. The business's quarterly revenue was down 11.2% compared to the same quarter last year. On average, analysts expect that Warner Bros. Discovery, Inc. will post -1.11 earnings per share for the current year.
Analyst Ratings Changes
WBD has been the topic of several recent analyst reports. UBS Group increased their price objective on shares of Warner Bros. Discovery from $30.00 to $31.00 and gave the company a "neutral" rating in a research report on Thursday, May 7th. Zacks Research raised shares of Warner Bros. Discovery from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 25th. Seaport Research Partners cut shares of Warner Bros. Discovery from a "buy" rating to a "neutral" rating in a report on Monday, July 27th. Huber Research raised shares of Warner Bros. Discovery from an "underweight" rating to an "overweight" rating in a research report on Monday, June 1st. Finally, Guggenheim restated a "neutral" rating on shares of Warner Bros. Discovery in a report on Thursday, May 7th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Warner Bros. Discovery currently has an average rating of "Hold" and a consensus target price of $27.69.
Check Out Our Latest Stock Analysis on Warner Bros. Discovery
Warner Bros. Discovery Company Profile
(
Free Report)
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.
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