Warner Bros. Discovery, Inc. $WBD Shares Sold by Quinn Opportunity Partners LLC

Quinn Opportunity Partners LLC decreased its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 65.4% in the second quarter, HoldingsChannel.com reports. The firm owned 72,630 shares of the company’s stock after selling 137,370 shares during the quarter. Quinn Opportunity Partners LLC’s holdings in Warner Bros. Discovery were worth $832,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Voya Investment Management LLC raised its holdings in Warner Bros. Discovery by 34.9% in the 1st quarter. Voya Investment Management LLC now owns 7,035,842 shares of the company’s stock valued at $75,495,000 after acquiring an additional 1,820,249 shares during the last quarter. Bfsg LLC lifted its holdings in shares of Warner Bros. Discovery by 11.2% in the 2nd quarter. Bfsg LLC now owns 156,906 shares of the company’s stock worth $1,798,000 after acquiring an additional 15,786 shares during the last quarter. Country Club Bank grew its stake in shares of Warner Bros. Discovery by 54.3% in the second quarter. Country Club Bank now owns 502,878 shares of the company’s stock valued at $5,683,000 after buying an additional 176,994 shares in the last quarter. Penserra Capital Management LLC boosted its stake in shares of Warner Bros. Discovery by 29,882.6% in the second quarter. Penserra Capital Management LLC now owns 62,064 shares of the company’s stock valued at $710,000 after purchasing an additional 61,857 shares during the period. Finally, Kingstone Capital Partners Texas LLC acquired a new position in shares of Warner Bros. Discovery in the second quarter worth $4,089,000. Institutional investors and hedge funds own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Down 3.7%

Warner Bros. Discovery stock opened at $22.19 on Thursday. The company’s 50-day moving average price is $19.10 and its two-hundred day moving average price is $13.76. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.92. The stock has a market cap of $54.94 billion, a price-to-earnings ratio of 73.97, a PEG ratio of 2.56 and a beta of 1.73. Warner Bros. Discovery, Inc. has a 52 week low of $7.52 and a 52 week high of $23.19.

Warner Bros. Discovery (NASDAQ:WBD) last released its earnings results on Thursday, November 6th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates 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 return on equity of 2.14% and a net margin of 2.00%.The firm’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.05 earnings per share. On average, analysts expect that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Gunnar Wiedenfels sold 222,210 shares of Warner Bros. Discovery stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $22.50, for a total transaction of $4,999,725.00. Following the sale, the chief financial officer directly owned 918,940 shares of the company’s stock, valued at $20,676,150. This trade represents a 19.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Bruce Campbell sold 150,000 shares of Warner Bros. Discovery stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $18.00, for a total transaction of $2,700,000.00. Following the sale, the insider owned 252,464 shares in the company, valued at approximately $4,544,352. This trade represents a 37.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 1,192,325 shares of company stock valued at $22,818,215 over the last quarter. Corporate insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on WBD shares. Argus set a $27.00 price objective on Warner Bros. Discovery in a research report on Tuesday, October 28th. Redburn Partners set a $28.00 price objective on shares of Warner Bros. Discovery in a research report on Thursday, October 30th. Rothschild & Co Redburn raised shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and set a $28.00 price objective on the stock in a report on Thursday, October 30th. Rothschild Redb upgraded shares of Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 30th. Finally, Benchmark boosted their price target on Warner Bros. Discovery from $18.00 to $25.00 and gave the company a “buy” rating in a research report on Wednesday, October 22nd. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Warner Bros. Discovery currently has an average rating of “Moderate Buy” and an average price target of $21.78.

Warner Bros. Discovery Profile

Warner Bros. Discovery, Inc operates as a media and entertainment company worldwide. It operates through three segments: Studios, Network, and DTC. The Studios segment produces and releases feature films for initial exhibition in theaters; produces and licenses television programs to its networks and third parties and direct-to-consumer services; distributes films and television programs to various third parties and internal television; and offers streaming services and distribution through the home entertainment market, themed experience licensing, and interactive gaming.