Senator Investment Group LP Has $535,000 Position in Warner Bros. Discovery, Inc. $WBD

Senator Investment Group LP lessened its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 99.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,061 shares of the company’s stock after selling 3,029,183 shares during the quarter. Senator Investment Group LP’s holdings in Warner Bros. Discovery were worth $535,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. GTS Securities LLC lifted its stake in shares of Warner Bros. Discovery by 44.8% in the second quarter. GTS Securities LLC now owns 26,828 shares of the company’s stock valued at $715,000 after buying an additional 8,305 shares in the last quarter. Alyeska Investment Group L.P. acquired a new position in shares of Warner Bros. Discovery during the second quarter valued at about $10,433,000. New Mexico Educational Retirement Board increased its position in shares of Warner Bros. Discovery by 8.2% during the second quarter. New Mexico Educational Retirement Board now owns 123,332 shares of the company’s stock worth $3,288,000 after acquiring an additional 9,300 shares in the last quarter. Mufg Securities Americas Inc. increased its position in shares of Warner Bros. Discovery by 8.8% during the second quarter. Mufg Securities Americas Inc. now owns 74,646 shares of the company’s stock worth $1,990,000 after acquiring an additional 6,068 shares in the last quarter. Finally, Nissay Asset Management Corp Japan raised its holdings in shares of Warner Bros. Discovery by 6.8% in the 2nd quarter. Nissay Asset Management Corp Japan now owns 725,239 shares of the company’s stock worth $19,335,000 after acquiring an additional 46,422 shares during the last quarter. Institutional investors and hedge funds own 59.95% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on WBD. UBS Group raised their price target 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. Zacks Research raised Warner Bros. Discovery from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 25th. Guggenheim reissued a “neutral” rating on shares of Warner Bros. Discovery in a research note on Thursday, May 7th. Freedom Capital upgraded Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a report on Monday, August 10th. Finally, Weiss Ratings raised Warner Bros. Discovery from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Tuesday, August 18th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Warner Bros. Discovery presently has an average rating of “Hold” and a consensus target price of $27.69.

Warner Bros. Discovery Price Performance

WBD opened at $28.77 on Monday. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.78 and a quick ratio of 0.78. The company’s 50-day moving average is $26.95 and its 200 day moving average is $27.24. Warner Bros. Discovery, Inc. has a fifty-two week low of $11.25 and a fifty-two week high of $30.00. The firm has a market capitalization of $72.23 billion, a P/E ratio of -22.65 and a beta of 1.55.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.20. Warner Bros. Discovery had a negative net margin of 8.77% and a negative return on equity of 8.91%. The business had revenue of $8.72 billion during the quarter, compared to the consensus estimate of $9.25 billion. During the same period in the prior year, the firm posted $0.63 EPS. The firm’s quarterly revenue was down 11.2% compared to the same quarter last year. Research analysts expect that Warner Bros. Discovery, Inc. will post -1.11 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Kenneth W. Lowe sold 120,000 shares of the stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $26.97, for a total transaction of $3,236,400.00. Following the completion of the sale, the director directly owned 990,108 shares of the company’s stock, valued at approximately $26,703,212.76. This trade represents a 10.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO David Zaslav sold 773,173 shares of Warner Bros. Discovery stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $28.01, for a total value of $21,656,575.73. Following the sale, the chief executive officer owned 6,807,934 shares in the company, valued at $190,690,231.34. This trade represents a 10.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,750,749 shares of company stock worth $48,329,633 in the last quarter. 0.70% of the stock is owned by corporate insiders.

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.