Slotnik Capital LLC Purchases New Position in Warner Bros. Discovery, Inc. $WBD

Slotnik Capital LLC acquired a new stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 160,000 shares of the company’s stock, valued at approximately $3,125,000. Warner Bros. Discovery comprises about 1.0% of Slotnik Capital LLC’s investment portfolio, making the stock its 15th largest holding.

Other hedge funds have also recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. increased its holdings in shares of Warner Bros. Discovery by 31.3% during the third quarter. Brown Brothers Harriman & Co. now owns 11,148 shares of the company’s stock worth $218,000 after buying an additional 2,660 shares in the last quarter. FORA Capital LLC acquired a new stake in shares of Warner Bros. Discovery during the 3rd quarter valued at $4,299,000. Jump Financial LLC grew its position in Warner Bros. Discovery by 89.7% during the 3rd quarter. Jump Financial LLC now owns 1,079,733 shares of the company’s stock worth $21,087,000 after acquiring an additional 510,416 shares during the last quarter. Pathstone Holdings LLC grew its position in Warner Bros. Discovery by 6.2% during the 3rd quarter. Pathstone Holdings LLC now owns 202,538 shares of the company’s stock worth $3,956,000 after acquiring an additional 11,779 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in Warner Bros. Discovery in the 3rd quarter worth about $100,135,000. Institutional investors and hedge funds own 59.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on WBD. Argus cut their price target on Warner Bros. Discovery from $32.00 to $31.00 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. Raymond James Financial reaffirmed an “underperform” rating on shares of Warner Bros. Discovery in a research note on Friday, February 27th. Deutsche Bank Aktiengesellschaft lowered shares of Warner Bros. Discovery from a “buy” rating to a “hold” rating and raised their price objective for the company from $29.50 to $31.00 in a report on Friday, February 27th. Guggenheim downgraded shares of Warner Bros. Discovery from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $25.00 to $30.00 in a research report on Wednesday, January 14th. Finally, Huber Research lowered shares of Warner Bros. Discovery from a “strong-buy” rating to a “strong sell” rating in a report on Friday, February 27th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Warner Bros. Discovery currently has an average rating of “Hold” and a consensus target price of $26.30.

Warner Bros. Discovery Trading Down 1.1%

NASDAQ WBD opened at $27.14 on Friday. The business’s 50-day moving average price is $28.15 and its two-hundred day moving average price is $23.77. Warner Bros. Discovery, Inc. has a 12 month low of $7.52 and a 12 month high of $30.00. The firm has a market capitalization of $67.25 billion, a PE ratio of 93.59 and a beta of 1.60. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.87.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings data on Thursday, February 26th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.19). The company had revenue of $9.46 billion for the quarter, compared to the consensus estimate of $9.33 billion. Warner Bros. Discovery had a return on equity of 1.98% and a net margin of 1.95%.Warner Bros. Discovery’s revenue was down 5.7% compared to the same quarter last year. During the same quarter last year, the business earned ($0.20) earnings per share. On average, analysts expect that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Insider Buying and Selling at Warner Bros. Discovery

In other Warner Bros. Discovery news, CEO David Zaslav sold 4,004,149 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $28.26, for a total transaction of $113,157,250.74. Following the completion of the sale, the chief executive officer owned 7,200,627 shares of the company’s stock, valued at approximately $203,489,719.02. This represents a 35.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Gerhard Zeiler sold 600,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $28.02, for a total transaction of $16,812,000.00. Following the transaction, the insider owned 672,649 shares of the company’s stock, valued at approximately $18,847,624.98. The trade was a 47.15% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 7,571,827 shares of company stock worth $213,302,225. Company insiders own 1.90% of the company’s stock.

Warner Bros. Discovery Company 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.