Warner Bros. Discovery, Inc. $WBD Shares Sold by STF Management LP

STF Management LP trimmed its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 61.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,826 shares of the company’s stock after selling 21,961 shares during the quarter. STF Management LP’s holdings in Warner Bros. Discovery were worth $398,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in WBD. Vanguard Group Inc. lifted its holdings in shares of Warner Bros. Discovery by 7.1% in the 3rd quarter. Vanguard Group Inc. now owns 281,214,155 shares of the company’s stock worth $5,492,112,000 after acquiring an additional 18,736,600 shares during the last quarter. Jericho Capital Asset Management L.P. lifted its holdings in shares of Warner Bros. Discovery by 108.9% in the 3rd quarter. Jericho Capital Asset Management L.P. now owns 35,095,390 shares of the company’s stock worth $685,413,000 after acquiring an additional 18,291,865 shares during the last quarter. Duquesne Family Office LLC acquired a new position in shares of Warner Bros. Discovery in the 2nd quarter worth approximately $74,916,000. Allianz Asset Management GmbH lifted its holdings in shares of Warner Bros. Discovery by 170.1% in the 3rd quarter. Allianz Asset Management GmbH now owns 9,326,978 shares of the company’s stock worth $182,156,000 after acquiring an additional 5,873,183 shares during the last quarter. Finally, Amundi lifted its holdings in shares of Warner Bros. Discovery by 59.6% in the 3rd quarter. Amundi now owns 15,523,538 shares of the company’s stock worth $296,189,000 after acquiring an additional 5,798,592 shares during the last quarter. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Warner Bros. Discovery news, insider Gerhard Zeiler sold 600,000 shares of the stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $28.02, for a total value of $16,812,000.00. Following the sale, the insider directly owned 672,649 shares of the company’s stock, valued at approximately $18,847,624.98. This represents a 47.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Fazal F. Merchant sold 35,000 shares of the stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $27.48, for a total transaction of $961,800.00. Following the completion of the sale, the director directly owned 95,539 shares in the company, valued at approximately $2,625,411.72. This represents a 26.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 8,206,827 shares of company stock worth $230,674,025. Corporate insiders own 1.90% of the company’s stock.

Warner Bros. Discovery Price Performance

Warner Bros. Discovery stock opened at $26.98 on Friday. The firm has a market cap of $67.64 billion, a PE ratio of -38.54 and a beta of 1.57. Warner Bros. Discovery, Inc. has a 52-week low of $8.82 and a 52-week high of $30.00. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.92. The company’s 50 day moving average is $27.33 and its two-hundred day moving average is $26.90.

Warner Bros. Discovery (NASDAQ:WBD) last released its earnings results on Wednesday, May 6th. The company reported ($1.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($1.07). Warner Bros. Discovery had a negative return on equity of 4.77% and a negative net margin of 4.67%.The business had revenue of $8.89 billion for the quarter, compared to analyst estimates of $8.89 billion. During the same quarter last year, the company earned ($0.18) earnings per share. Warner Bros. Discovery’s quarterly revenue was down 1.0% compared to the same quarter last year. On average, research analysts expect that Warner Bros. Discovery, Inc. will post -0.71 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on WBD shares. Raymond James Financial restated an “underperform” rating on shares of Warner Bros. Discovery in a report on Friday, February 27th. Rothschild & Co Redburn set a $31.00 price objective on shares of Warner Bros. Discovery and gave the stock a “neutral” rating in a report on Tuesday, February 17th. Weiss Ratings lowered shares of Warner Bros. Discovery from a “hold (c-)” rating to a “sell (d-)” rating in a report on Thursday, May 7th. TD Cowen upped their price objective on shares of Warner Bros. Discovery from $22.00 to $26.00 and gave the stock a “hold” rating in a report on Friday, February 27th. Finally, KeyCorp restated an “overweight” rating on shares of Warner Bros. Discovery in a report on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, thirteen have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, Warner Bros. Discovery has a consensus rating of “Hold” and a consensus target price of $26.36.

Warner Bros. Discovery 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.