Carmignac Gestion Raises Stock Position in Warner Bros. Discovery, Inc. $WBD

Carmignac Gestion grew its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 17.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 276,857 shares of the company’s stock after purchasing an additional 40,484 shares during the period. Carmignac Gestion’s holdings in Warner Bros. Discovery were worth $7,381,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Nykredit A S acquired a new position in shares of Warner Bros. Discovery during the 2nd quarter worth approximately $9,436,000. Amundi lifted its holdings in Warner Bros. Discovery by 11.2% during the second quarter. Amundi now owns 16,324,591 shares of the company’s stock valued at $435,214,000 after purchasing an additional 1,640,916 shares in the last quarter. HighTower Advisors LLC grew its position in shares of Warner Bros. Discovery by 1.5% in the second quarter. HighTower Advisors LLC now owns 286,042 shares of the company’s stock valued at $7,626,000 after purchasing an additional 4,157 shares during the period. California State Teachers Retirement System increased its stake in shares of Warner Bros. Discovery by 2,593.6% during the second quarter. California State Teachers Retirement System now owns 96,581,582 shares of the company’s stock worth $2,574,865,000 after purchasing an additional 92,996,028 shares in the last quarter. Finally, Readystate Asset Management LP raised its position in shares of Warner Bros. Discovery by 132.1% during the 2nd quarter. Readystate Asset Management LP now owns 3,851,600 shares of the company’s stock worth $102,684,000 after purchasing an additional 2,191,929 shares during the last quarter. Institutional investors and hedge funds own 59.95% of the company’s stock.

Insider Activity at Warner Bros. Discovery

In other Warner Bros. Discovery news, CEO David Zaslav sold 194,999 shares of Warner Bros. Discovery stock in a transaction on Friday, August 14th. The stock was sold at an average price of $28.02, for a total value of $5,463,871.98. Following the sale, the chief executive officer owned 6,807,934 shares in the company, valued at $190,758,310.68. The trade was a 2.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kenneth Lowe sold 200,000 shares of the firm’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $28.35, for a total value of $5,670,000.00. Following the sale, the director directly owned 790,108 shares of the company’s stock, valued at $22,399,561.80. The trade was a 20.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 2,290,749 shares of company stock valued at $63,652,233 over the last 90 days. Corporate insiders own 0.70% of the company’s stock.

Warner Bros. Discovery Trading Down 0.5%

Shares of WBD stock traded down $0.13 on Tuesday, hitting $28.12. 14,135,629 shares of the stock traded hands, compared to its average volume of 22,622,781. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.78 and a current ratio of 0.78. Warner Bros. Discovery, Inc. has a twelve month low of $12.00 and a twelve month high of $30.00. The firm’s 50-day moving average price is $27.12 and its two-hundred day moving average price is $27.25. The stock has a market capitalization of $70.60 billion, a PE ratio of -22.14 and a beta of 1.57.

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

Analysts Set New Price Targets

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

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.