Warner Bros. Discovery, Inc. $WBD Holdings Decreased by JAT Capital Mgmt LP

JAT Capital Mgmt LP lessened its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 90.4% in the first quarter, HoldingsChannel.com reports. The firm owned 62,564 shares of the company’s stock after selling 587,436 shares during the period. Warner Bros. Discovery accounts for approximately 0.2% of JAT Capital Mgmt LP’s investment portfolio, making the stock its 17th biggest holding. JAT Capital Mgmt LP’s holdings in Warner Bros. Discovery were worth $671,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Warner Bros. Discovery by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 256,820,031 shares of the company’s stock valued at $2,755,679,000 after buying an additional 4,169,240 shares during the last quarter. Invesco Ltd. raised its position in shares of Warner Bros. Discovery by 2.1% during the 1st quarter. Invesco Ltd. now owns 43,341,297 shares of the company’s stock worth $465,052,000 after purchasing an additional 873,869 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Warner Bros. Discovery by 4.5% in the 1st quarter. The Manufacturers Life Insurance Company now owns 24,672,364 shares of the company’s stock worth $264,734,000 after purchasing an additional 1,063,535 shares during the last quarter. Northern Trust Corp boosted its position in Warner Bros. Discovery by 1.9% during the 1st quarter. Northern Trust Corp now owns 23,427,661 shares of the company’s stock valued at $251,379,000 after purchasing an additional 430,787 shares during the period. Finally, EdgePoint Investment Group Inc. grew its stake in Warner Bros. Discovery by 0.7% during the 4th quarter. EdgePoint Investment Group Inc. now owns 21,536,172 shares of the company’s stock worth $227,637,000 after buying an additional 139,453 shares during the last quarter. 59.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on WBD. Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a research note on Tuesday, June 10th. KeyCorp cut their price objective on shares of Warner Bros. Discovery from $18.00 to $16.00 and set an “overweight” rating on the stock in a research report on Friday, August 8th. Benchmark restated a “buy” rating and issued a $18.00 target price on shares of Warner Bros. Discovery in a research report on Monday, July 14th. Citigroup cut their price target on Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, May 29th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $16.00 target price on shares of Warner Bros. Discovery in a research note on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $13.14.

Warner Bros. Discovery Stock Performance

Shares of NASDAQ WBD opened at $11.64 on Tuesday. Warner Bros. Discovery, Inc. has a 1 year low of $6.78 and a 1 year high of $13.86. The firm has a market cap of $28.82 billion, a P/E ratio of 38.80, a PEG ratio of 1.55 and a beta of 1.59. The stock has a fifty day moving average price of $12.01 and a two-hundred day moving average price of $10.50. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.04 and a current ratio of 1.04.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.79. Warner Bros. Discovery had a return on equity of 2.14% and a net margin of 2.00%.The company had revenue of $9.81 billion for the quarter, compared to the consensus estimate of $9.73 billion. During the same quarter in the previous year, the business earned ($4.07) EPS. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. Research analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Insider Activity

In related news, Director Anton J. Levy bought 250,000 shares of Warner Bros. Discovery stock in a transaction dated Monday, August 11th. The stock was acquired at an average cost of $10.90 per share, with a total value of $2,725,000.00. Following the completion of the acquisition, the director directly owned 874,000 shares in the company, valued at approximately $9,526,600. This trade represents a 40.06% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.80% of the stock is owned by insiders.

Warner Bros. Discovery 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.