Warner Bros. Discovery, Inc. $WBD Holdings Raised by NEOS Investment Management LLC

NEOS Investment Management LLC increased its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 12.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,893,473 shares of the company’s stock after purchasing an additional 211,256 shares during the quarter. NEOS Investment Management LLC’s holdings in Warner Bros. Discovery were worth $50,480,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Geode Capital Management LLC increased its stake in Warner Bros. Discovery by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 66,597,575 shares of the company’s stock valued at $1,912,634,000 after buying an additional 1,028,346 shares during the period. Norges Bank acquired a new stake in shares of Warner Bros. Discovery in the 4th quarter worth approximately $1,123,807,000. Morgan Stanley boosted its holdings in shares of Warner Bros. Discovery by 4.8% in the fourth quarter. Morgan Stanley now owns 27,462,742 shares of the company’s stock valued at $791,476,000 after acquiring an additional 1,254,813 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Warner Bros. Discovery by 3.9% in the third quarter. Northern Trust Corp now owns 23,496,725 shares of the company’s stock valued at $458,891,000 after acquiring an additional 876,869 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Warner Bros. Discovery by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 19,452,808 shares of the company’s stock valued at $560,630,000 after acquiring an additional 358,353 shares during the period. Institutional investors own 59.95% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on WBD shares. Zacks Research raised Warner Bros. Discovery from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 25th. Guggenheim reaffirmed a “neutral” rating on shares of Warner Bros. Discovery in a research note on Thursday, May 7th. Weiss Ratings upgraded Warner Bros. Discovery from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Tuesday, August 18th. Freedom Capital raised Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 10th. Finally, Huber Research upgraded Warner Bros. Discovery from an “underweight” rating to an “overweight” rating in a report on Monday, June 1st. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Warner Bros. Discovery has a consensus rating of “Hold” and a consensus target price of $27.69.

Warner Bros. Discovery Trading Down 0.1%

NASDAQ:WBD opened at $28.37 on Friday. The stock has a fifty day simple moving average of $27.06 and a 200 day simple moving average of $27.25. The firm has a market capitalization of $71.23 billion, a price-to-earnings ratio of -22.34 and a beta of 1.57. Warner Bros. Discovery, Inc. has a 1-year low of $11.54 and a 1-year high of $30.00. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.90.

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

Insider Activity

In related news, Director Fazal F. Merchant sold 71,539 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $27.75, for a total value of $1,985,207.25. Following the completion of the transaction, the director owned 33,067 shares of the company’s stock, valued at approximately $917,609.25. This trade represents a 68.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kenneth W. Lowe sold 120,000 shares of Warner Bros. Discovery 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 transaction, the director owned 990,108 shares in the company, valued at approximately $26,703,212.76. The trade was a 10.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 1,750,749 shares of company stock valued at $48,329,633. 0.70% of the stock is currently owned by insiders.

About Warner Bros. Discovery

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.