Slate Path Capital LP Sells 792,000 Shares of Warner Bros. Discovery, Inc. $WBD

Slate Path Capital LP reduced its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 3.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,328,000 shares of the company’s stock after selling 792,000 shares during the period. Warner Bros. Discovery accounts for about 4.2% of Slate Path Capital LP’s holdings, making the stock its 6th biggest position. Slate Path Capital LP owned about 0.87% of Warner Bros. Discovery worth $244,419,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. WPG Advisers LLC acquired a new stake in Warner Bros. Discovery during the 1st quarter valued at $26,000. Financial Gravity Companies Inc. purchased a new stake in shares of Warner Bros. Discovery in the second quarter valued at $29,000. Trifecta Capital Advisors LLC acquired a new position in shares of Warner Bros. Discovery during the 2nd quarter valued at about $34,000. Zions Bancorporation National Association UT purchased a new position in Warner Bros. Discovery during the first quarter worth approximately $42,000. Finally, Elevation Point Wealth Partners LLC acquired a new position in Warner Bros. Discovery in the second quarter valued at $44,000. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Performance

Shares of Warner Bros. Discovery stock opened at $29.53 on Thursday. The firm’s 50-day simple moving average is $21.92 and its 200-day simple moving average is $15.93. Warner Bros. Discovery, Inc. has a 1 year low of $7.52 and a 1 year high of $29.81. The firm has a market cap of $73.17 billion, a PE ratio of 155.43, a price-to-earnings-growth ratio of 1.08 and a beta of 1.60. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.07 and a current ratio of 1.07.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). The firm had revenue of $9.05 billion during the quarter, compared to the consensus estimate of $9.17 billion. Warner Bros. Discovery had a net margin of 1.28% and a return on equity of 1.34%. Warner Bros. Discovery’s revenue was down 6.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.05 earnings per share. Equities analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Insider Buying and Selling at Warner Bros. Discovery

In other news, insider Bruce Campbell sold 150,000 shares of the company’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $18.00, for a total transaction of $2,700,000.00. Following the completion of the transaction, the insider directly owned 252,464 shares of the company’s stock, valued at approximately $4,544,352. This represents a 37.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Lori C. Locke sold 5,000 shares of the company’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $27.62, for a total value of $138,100.00. Following the transaction, the chief accounting officer owned 110,084 shares of the company’s stock, valued at approximately $3,040,520.08. The trade was a 4.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 927,125 shares of company stock worth $18,663,597 over the last ninety days. Company insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

WBD has been the topic of a number of recent research reports. Raymond James Financial lifted their price target on shares of Warner Bros. Discovery from $22.00 to $25.00 and gave the company an “outperform” rating in a research report on Friday, November 7th. Moffett Nathanson raised their target price on shares of Warner Bros. Discovery from $23.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Barclays set a $20.00 target price on shares of Warner Bros. Discovery in a report on Wednesday, October 8th. Singular Research upgraded Warner Bros. Discovery to a “moderate buy” rating in a report on Wednesday, October 22nd. Finally, Wells Fargo & Company raised their price objective on Warner Bros. Discovery from $21.00 to $25.00 and gave the company an “equal weight” rating in a research report on Friday, November 7th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $22.35.

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.