Prosperitas Financial LLC Sells 60,521 Shares of Warner Bros. Discovery, Inc. $WBD

Prosperitas Financial LLC decreased its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 35.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 108,844 shares of the company’s stock after selling 60,521 shares during the quarter. Prosperitas Financial LLC’s holdings in Warner Bros. Discovery were worth $2,902,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of WBD. NEOS Investment Management LLC boosted its holdings in Warner Bros. Discovery by 12.6% during the 2nd quarter. NEOS Investment Management LLC now owns 1,893,473 shares of the company’s stock valued at $50,480,000 after acquiring an additional 211,256 shares during the period. Proficio Capital Partners LLC purchased a new stake in Warner Bros. Discovery in the second quarter worth $340,000. BTG Pactual Asset Management US LLC increased its stake in Warner Bros. Discovery by 45.4% in the second quarter. BTG Pactual Asset Management US LLC now owns 206,400 shares of the company’s stock worth $5,503,000 after purchasing an additional 64,400 shares during the period. GTS Securities LLC lifted its position in shares of Warner Bros. Discovery by 44.8% during the second quarter. GTS Securities LLC now owns 26,828 shares of the company’s stock worth $715,000 after purchasing an additional 8,305 shares during the last quarter. Finally, Alyeska Investment Group L.P. bought a new stake in shares of Warner Bros. Discovery during the second quarter worth $10,433,000. 59.95% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on WBD shares. Freedom Capital upgraded shares of Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a report on Monday, August 10th. Zacks Research upgraded shares of Warner Bros. Discovery from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 25th. Weiss Ratings raised shares of Warner Bros. Discovery from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Tuesday, August 18th. Seaport Research Partners downgraded shares of Warner Bros. Discovery from a “buy” rating to a “neutral” rating in a research note on Monday, July 27th. Finally, Huber Research raised shares of Warner Bros. Discovery from an “underweight” rating to an “overweight” rating in a research note on Monday, June 1st. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $27.69.

Insider Buying and Selling

In other news, insider Gerhard Zeiler sold 591,038 shares of the business’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $27.05, for a total value of $15,987,577.90. Following the completion of the transaction, the insider directly owned 537,436 shares of the company’s stock, valued at approximately $14,537,643.80. The trade was a 52.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kenneth W. Lowe sold 120,000 shares of the company’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $26.97, for a total value of $3,236,400.00. Following the sale, the director owned 990,108 shares of the company’s stock, valued at $26,703,212.76. This trade represents a 10.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 1,750,749 shares of company stock worth $48,329,633 in the last three months. Corporate insiders own 0.70% of the company’s stock.

Warner Bros. Discovery Stock Down 0.1%

Shares of Warner Bros. Discovery stock opened at $28.37 on Friday. 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 stock has a market cap of $71.23 billion, a price-to-earnings ratio of -22.34 and a beta of 1.57. The firm’s 50-day moving average is $27.06 and its two-hundred day moving average is $27.25. Warner Bros. Discovery, Inc. has a 1 year low of $11.54 and a 1 year high of $30.00.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $8.72 billion during the quarter, compared to analysts’ expectations of $9.25 billion. During the same quarter in the prior year, the company earned $0.63 EPS. The company’s revenue was down 11.2% compared to the same quarter last year. As a group, research analysts expect that Warner Bros. Discovery, Inc. will post -1.11 earnings per share for the current fiscal year.

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.