Warner Bros. Discovery, Inc. $WBD Shares Sold by JAT Capital Mgmt LP

Key Points

• JAT Capital Mgmt LP has significantly reduced its stake in Warner Bros. Discovery, selling 587,436 shares and owning only 62,564 shares, which now accounts for just 0.2% of its portfolio.
• In Q2, Warner Bros. Discovery reported earnings of $0.63 per share, exceeding analyst expectations, and generated $9.81 billion in revenue, marking a 1.0% increase year-over-year.
• Several institutional investors have increased their holdings in Warner Bros. Discovery, with Brighton Jones LLC and Quarry LP seeing substantial percentage increases in their shares during the last quarter.

JAT Capital Mgmt LP lessened its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 90.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,564 shares of the company's stock after selling 587,436 shares during the period. Warner Bros. Discovery comprises 0.2% of JAT Capital Mgmt LP's portfolio, making the stock its 17th largest holding. JAT Capital Mgmt LP's holdings in Warner Bros. Discovery were worth $671,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of WBD. Brighton Jones LLC grew its holdings in Warner Bros. Discovery by 304.9% in the 4th quarter. Brighton Jones LLC now owns 68,950 shares of the company's stock valued at $729,000 after buying an additional 51,920 shares during the period. Quarry LP increased its position in Warner Bros. Discovery by 2,281.5% during the fourth quarter. Quarry LP now owns 3,096 shares of the company's stock worth $33,000 after purchasing an additional 2,966 shares during the last quarter. Schonfeld Strategic Advisors LLC raised its stake in Warner Bros. Discovery by 403.9% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 193,454 shares of the company's stock worth $2,045,000 after purchasing an additional 155,063 shares during the period. AXA S.A. grew its stake in shares of Warner Bros. Discovery by 78.0% during the 4th quarter. AXA S.A. now owns 387,712 shares of the company's stock valued at $4,098,000 after buying an additional 169,924 shares during the period. Finally, Ancora Advisors LLC grew its stake in shares of Warner Bros. Discovery by 4,302.3% during the 4th quarter. Ancora Advisors LLC now owns 194,626 shares of the company's stock valued at $2,057,000 after buying an additional 190,205 shares during the period. Institutional investors and hedge funds own 59.95% of the company's stock.

Warner Bros. Discovery Stock Performance

Shares of WBD stock opened at $11.64 on Tuesday. The company's fifty day moving average price is $12.01 and its two-hundred day moving average price is $10.50. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a market capitalization of $28.82 billion, a P/E ratio of 38.80, a P/E/G ratio of 1.55 and a beta of 1.59. Warner Bros. Discovery, Inc. has a 12 month low of $6.78 and a 12 month high of $13.86.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.63 EPS for the quarter, topping the consensus estimate of ($0.16) by $0.79. The business had revenue of $9.81 billion for the quarter, compared to analysts' expectations of $9.73 billion. Warner Bros. Discovery had a return on equity of 2.14% and a net margin of 2.00%.The company's revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($4.07) earnings per share. On average, research analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Insider Transactions at Warner Bros. Discovery

In related news, Director Anton J. Levy acquired 75,000 shares of the firm's stock in a transaction on Tuesday, August 12th. The stock was bought at an average cost of $11.00 per share, with a total value of $825,000.00. Following the acquisition, the director directly owned 949,000 shares in the company, valued at approximately $10,439,000. The trade was a 8.58% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on WBD shares. Barrington Research reiterated an "outperform" rating and issued a $16.00 target price on shares of Warner Bros. Discovery in a report on Wednesday, July 30th. Argus upgraded shares of Warner Bros. Discovery to a "hold" rating in a report on Tuesday, May 27th. Citigroup reduced their price target on shares of Warner Bros. Discovery from $15.00 to $14.00 and set a "buy" rating on the stock in a research report on Thursday, May 29th. Morgan Stanley increased their price objective on shares of Warner Bros. Discovery from $10.00 to $13.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 6th. Finally, Huber Research raised shares of Warner Bros. Discovery from a "strong sell" rating to a "strong-buy" rating in a research report on Monday, June 9th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eleven have given a Hold rating to the company's stock. According to MarketBeat, Warner Bros. Discovery currently has an average rating of "Moderate Buy" and a consensus target price of $13.14.

Warner Bros. Discovery Company Profile

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 its networks and third parties 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.

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