Warner Bros. Discovery, Inc. $WBD Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC lowered its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 96.3% during the second quarter, Holdings Channel reports. The fund owned 10,649 shares of the company’s stock after selling 280,689 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Warner Bros. Discovery were worth $122,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WBD. WPG Advisers LLC purchased a new position in shares of Warner Bros. Discovery during the 1st quarter worth $26,000. Trifecta Capital Advisors LLC purchased a new position in Warner Bros. Discovery during the second quarter worth about $34,000. N.E.W. Advisory Services LLC acquired a new stake in Warner Bros. Discovery in the 1st quarter worth about $36,000. Zions Bancorporation National Association UT purchased a new stake in Warner Bros. Discovery in the 1st quarter valued at about $42,000. Finally, ST Germain D J Co. Inc. increased its stake in shares of Warner Bros. Discovery by 4,720.5% during the 2nd quarter. ST Germain D J Co. Inc. now owns 4,001 shares of the company’s stock valued at $46,000 after acquiring an additional 3,918 shares during the last quarter. 59.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Warner Bros. Discovery

In related news, CFO Gunnar Wiedenfels sold 530,793 shares of the business’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $19.50, for a total value of $10,350,463.50. Following the transaction, the chief financial officer owned 1,141,150 shares in the company, valued at approximately $22,252,425. The trade was a 31.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Bruce Campbell sold 289,322 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $16.48, for a total value of $4,768,026.56. Following the sale, the insider owned 402,464 shares of the company’s stock, valued at approximately $6,632,606.72. This trade represents a 41.82% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,192,325 shares of company stock worth $22,818,215 over the last three months. 1.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

WBD has been the topic of several research analyst reports. TD Cowen raised their target price on shares of Warner Bros. Discovery from $14.00 to $22.00 in a research report on Friday, November 7th. Rothschild Redb raised shares of Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 30th. Cowen downgraded Warner Bros. Discovery from a “buy” rating to a “hold” rating in a report on Tuesday, September 16th. The Goldman Sachs Group lifted their target price on Warner Bros. Discovery from $13.00 to $14.75 and gave the company a “buy” rating in a report on Friday, November 7th. Finally, Benchmark upped their price target on Warner Bros. Discovery from $18.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, October 22nd. Three equities research 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 issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $21.92.

Warner Bros. Discovery Stock Performance

NASDAQ:WBD opened at $22.74 on Tuesday. The firm’s fifty day simple moving average is $19.74 and its 200 day simple moving average is $14.10. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.92. Warner Bros. Discovery, Inc. has a twelve month low of $7.52 and a twelve month high of $23.19. The firm has a market capitalization of $56.30 billion, a price-to-earnings ratio of 75.80, a PEG ratio of 2.56 and a beta of 1.74.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.02). The company had revenue of $9.05 billion during the quarter, compared to analysts’ expectations of $9.17 billion. Warner Bros. Discovery had a net margin of 2.00% and a return on equity of 2.14%. The company’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same period last year, the business earned $0.05 earnings per share. As a group, equities research analysts expect that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

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.