UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 975,206 Shares of Warner Bros. Discovery, Inc. $WBD

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 6.1% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,044,844 shares of the company’s stock after selling 975,206 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Warner Bros. Discovery were worth $401,096,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of WBD. Harbor Investment Advisory LLC increased its position in shares of Warner Bros. Discovery by 111.2% during the second quarter. Harbor Investment Advisory LLC now owns 942 shares of the company’s stock valued at $25,000 after acquiring an additional 496 shares during the last quarter. Field & Main Bank bought a new stake in shares of Warner Bros. Discovery in the second quarter valued at $26,000. Swiss RE Ltd. purchased a new position in shares of Warner Bros. Discovery during the 4th quarter valued at $26,000. Elevation Wealth Partners LLC lifted its position in shares of Warner Bros. Discovery by 64.3% during the 2nd quarter. Elevation Wealth Partners LLC now owns 1,009 shares of the company’s stock valued at $27,000 after buying an additional 395 shares during the last quarter. Finally, Archer Investment Corp bought a new position in shares of Warner Bros. Discovery during the 2nd quarter worth $27,000. 59.95% of the stock is owned by institutional investors.

Warner Bros. Discovery Stock Performance

NASDAQ:WBD opened at $28.77 on Monday. The company has a fifty day moving average of $26.95 and a 200 day moving average of $27.24. Warner Bros. Discovery, Inc. has a 52 week low of $11.25 and a 52 week 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. The firm has a market capitalization of $72.23 billion, a P/E ratio of -22.65 and a beta of 1.55.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $8.72 billion during the quarter, compared to analyst estimates of $9.25 billion. During the same quarter in the prior year, the company posted $0.63 EPS. Warner Bros. Discovery’s quarterly revenue was down 11.2% compared to the same quarter last year. On average, research analysts predict that Warner Bros. Discovery, Inc. will post -1.11 earnings per share for the current year.

Insider Transactions at Warner Bros. Discovery

In other news, Director Fazal F. Merchant sold 71,539 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The stock was 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 in the company, valued at $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 available through this hyperlink. Also, CEO David Zaslav sold 773,173 shares of Warner Bros. Discovery stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $28.01, for a total value of $21,656,575.73. Following the sale, the chief executive officer owned 6,807,934 shares in the company, valued at $190,690,231.34. This represents a 10.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,750,749 shares of company stock worth $48,329,633 over the last 90 days. 0.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Guggenheim reiterated a “neutral” rating on shares of Warner Bros. Discovery in a research note on Thursday, May 7th. Freedom Capital upgraded shares of Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 10th. Seaport Research Partners downgraded shares of Warner Bros. Discovery from a “buy” rating to a “neutral” rating in a report on Monday, July 27th. Zacks Research upgraded shares of Warner Bros. Discovery from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 25th. Finally, Huber Research raised shares of Warner Bros. Discovery from an “underweight” rating to an “overweight” rating in a report on Monday, June 1st. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target 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.