AlphaQuest LLC Sells 20,156 Shares of Warner Bros. Discovery, Inc. $WBD

AlphaQuest LLC lessened its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 48.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,463 shares of the company’s stock after selling 20,156 shares during the quarter. AlphaQuest LLC’s holdings in Warner Bros. Discovery were worth $419,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in WBD. Arizona State Retirement System increased its holdings in shares of Warner Bros. Discovery by 2.1% during the 3rd quarter. Arizona State Retirement System now owns 700,884 shares of the company’s stock worth $13,688,000 after acquiring an additional 14,324 shares during the last quarter. Trifecta Capital Advisors LLC lifted its holdings in Warner Bros. Discovery by 24.7% during the 3rd quarter. Trifecta Capital Advisors LLC now owns 3,675 shares of the company’s stock valued at $72,000 after purchasing an additional 727 shares during the last quarter. Impact Partnership Wealth LLC bought a new position in Warner Bros. Discovery during the third quarter worth $1,254,000. AE Wealth Management LLC increased its holdings in shares of Warner Bros. Discovery by 5.9% in the third quarter. AE Wealth Management LLC now owns 31,504 shares of the company’s stock valued at $615,000 after purchasing an additional 1,759 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC raised its position in shares of Warner Bros. Discovery by 10.0% in the third quarter. Annis Gardner Whiting Capital Advisors LLC now owns 84,544 shares of the company’s stock valued at $1,651,000 after purchasing an additional 7,679 shares during the period. 59.95% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Gunnar Wiedenfels sold 242,994 shares of the stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $29.50, for a total value of $7,168,323.00. Following the completion of the transaction, the chief financial officer directly owned 918,940 shares in the company, valued at approximately $27,108,730. This represents a 20.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Lori C. Locke sold 4,122 shares of the stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $28.92, for a total value of $119,208.24. Following the completion of the transaction, the chief accounting officer owned 100,962 shares of the company’s stock, valued at $2,919,821.04. This represents a 3.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 267,116 shares of company stock worth $7,781,731. Insiders own 1.90% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. Barrington Research downgraded shares of Warner Bros. Discovery from an “outperform” rating to a “hold” rating in a report on Friday, December 5th. Benchmark upped their target price on Warner Bros. Discovery from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, January 15th. Rothschild & Co Redburn set a $28.00 price target on Warner Bros. Discovery in a report on Thursday, October 30th. Wells Fargo & Company boosted their price target on Warner Bros. Discovery from $21.00 to $25.00 and gave the company an “equal weight” rating in a research note on Friday, November 7th. Finally, Argus increased their price objective on Warner Bros. Discovery from $28.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, January 27th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Warner Bros. Discovery presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.94.

Warner Bros. Discovery Stock Up 2.2%

Shares of WBD opened at $27.35 on Friday. The firm has a 50 day simple moving average of $28.06 and a two-hundred day simple moving average of $21.03. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.07 and a quick ratio of 1.07. Warner Bros. Discovery, Inc. has a one year low of $7.52 and a one year high of $30.00. The company has a market cap of $67.77 billion, a P/E ratio of 143.95 and a beta of 1.64.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.02). The business had revenue of $9.05 billion during the quarter, compared to the consensus estimate of $9.17 billion. Warner Bros. Discovery had a net margin of 1.28% and a return on equity of 1.34%. The company’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.05 EPS. Research analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

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.