Warner Bros. Discovery, Inc. $WBD Shares Sold by Headlands Technologies LLC

Headlands Technologies LLC cut its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 74.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 120,486 shares of the company's stock after selling 354,575 shares during the period. Headlands Technologies LLC's holdings in Warner Bros. Discovery were worth $3,212,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of WBD. Harbor Investment Advisory LLC grew its position in Warner Bros. Discovery by 111.2% during the 2nd quarter. Harbor Investment Advisory LLC now owns 942 shares of the company's stock worth $25,000 after purchasing an additional 496 shares during the last quarter. Field & Main Bank acquired a new position in Warner Bros. Discovery in the second quarter valued at $26,000. Swiss RE Ltd. purchased a new stake in shares of Warner Bros. Discovery in the fourth quarter valued at about $26,000. Elevation Wealth Partners LLC boosted its stake in shares of Warner Bros. Discovery by 64.3% during the second quarter. Elevation Wealth Partners LLC now owns 1,009 shares of the company's stock worth $27,000 after buying an additional 395 shares during the period. Finally, Archer Investment Corp acquired a new position in Warner Bros. Discovery in the 2nd quarter valued at about $27,000. 59.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on WBD shares. Seaport Research Partners cut Warner Bros. Discovery from a "buy" rating to a "neutral" rating in a research report on Monday, July 27th. Freedom Capital raised Warner Bros. Discovery from a "hold" rating to a "strong-buy" rating in a report on Monday, August 10th. Weiss Ratings upgraded Warner Bros. Discovery from a "sell (d-)" rating to a "sell (d+)" rating in a research note on Tuesday, August 18th. Zacks Research raised Warner Bros. Discovery from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 25th. Finally, UBS Group lifted 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. Two equities research 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 company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $27.69.

Insiders Place Their Bets

In other Warner Bros. Discovery news, insider Gerhard Zeiler sold 591,038 shares of the firm's stock in a transaction on Monday, August 10th. The stock was sold at an average price of $27.05, for a total value of $15,987,577.90. Following the completion of the sale, the insider owned 537,436 shares of the company's stock, valued at approximately $14,537,643.80. This trade represents a 52.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Fazal F. Merchant sold 71,539 shares of the business's stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $27.75, for a total transaction of $1,985,207.25. Following the sale, the director owned 33,067 shares in the company, valued at $917,609.25. The trade was a 68.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,750,749 shares of company stock valued at $48,329,633 in the last three months. 0.70% of the stock is owned by corporate insiders.

Warner Bros. Discovery Price Performance

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

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.20. The company had revenue of $8.72 billion for the quarter, compared to analysts' expectations 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 firm's quarterly revenue was down 11.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.63 EPS. Research analysts anticipate that Warner Bros. Discovery, Inc. will post -1.11 earnings per share for the current year.

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.

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