Maven Securities LTD Purchases 100,307 Shares of Warner Bros. Discovery, Inc. $WBD

Maven Securities LTD grew its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 59.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 269,357 shares of the company’s stock after purchasing an additional 100,307 shares during the quarter. Maven Securities LTD’s holdings in Warner Bros. Discovery were worth $7,181,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of America Corp DE boosted its position in Warner Bros. Discovery by 21.9% during the 1st quarter. Bank of America Corp DE now owns 16,616,949 shares of the company’s stock worth $456,301,000 after buying an additional 2,980,900 shares during the period. Handelsbanken Fonder AB increased its position in Warner Bros. Discovery by 130.8% in the 4th quarter. Handelsbanken Fonder AB now owns 1,008,638 shares of the company’s stock valued at $29,069,000 after acquiring an additional 571,612 shares during the period. Brighton Jones LLC increased its position in Warner Bros. Discovery by 304.9% in the 4th quarter. Brighton Jones LLC now owns 68,950 shares of the company’s stock valued at $729,000 after acquiring an additional 51,920 shares during the period. Geode Capital Management LLC raised its stake in shares of Warner Bros. Discovery by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 66,597,575 shares of the company’s stock valued at $1,912,634,000 after acquiring an additional 1,028,346 shares during the last quarter. Finally, Empyrean Capital Partners LP raised its stake in shares of Warner Bros. Discovery by 29.1% during the first quarter. Empyrean Capital Partners LP now owns 2,583,000 shares of the company’s stock valued at $70,929,000 after acquiring an additional 583,000 shares during the last quarter. 59.95% of the stock is currently owned by institutional investors.

Warner Bros. Discovery Trading Down 0.5%

WBD opened at $28.12 on Wednesday. Warner Bros. Discovery, Inc. has a twelve month low of $12.00 and a twelve month 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 company has a fifty day moving average of $27.14 and a 200-day moving average of $27.25. The stock has a market cap of $70.60 billion, a PE ratio of -22.14 and a beta of 1.57.

Warner Bros. Discovery (NASDAQ:WBD) last announced its earnings results on Thursday, August 6th. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.20. The business had revenue of $8.72 billion during the quarter, compared to the consensus estimate of $9.25 billion. Warner Bros. Discovery had a negative net margin of 8.77% and a negative return on equity of 8.91%. Warner Bros. Discovery’s quarterly revenue was down 11.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.63 earnings per share. On average, sell-side analysts predict that Warner Bros. Discovery, Inc. will post -1.11 EPS for the current year.

Insider Activity

In other news, Director Kenneth Lowe sold 200,000 shares of Warner Bros. Discovery stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $28.35, for a total value of $5,670,000.00. Following the completion of the transaction, the director directly owned 790,108 shares of the company’s stock, valued at approximately $22,399,561.80. This trade represents a 20.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO David Zaslav sold 194,999 shares of the business’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $28.02, for a total value of $5,463,871.98. Following the completion of the transaction, the chief executive officer directly owned 6,807,934 shares in the company, valued at $190,758,310.68. This represents a 2.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 2,290,749 shares of company stock worth $63,652,233. 0.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on WBD shares. Seaport Research Partners cut shares of Warner Bros. Discovery from a “buy” rating to a “neutral” rating in a research note on Monday, July 27th. Freedom Capital raised Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 10th. Huber Research raised Warner Bros. Discovery from an “underweight” rating to an “overweight” rating in a report on Monday, June 1st. Zacks Research upgraded Warner Bros. Discovery from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 25th. Finally, Weiss Ratings raised Warner Bros. Discovery from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Tuesday, August 18th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $27.69.

About Warner Bros. Discovery

Warner Bros. Discovery, Inc is a global media and entertainment company that develops, produces and distributes television, film and digital content. Its portfolio includes Warner Bros. film and television studios, HBO, CNN, Discovery, TLC, HGTV, Food Network, TNT Sports and other well-known brands.

The company operates streaming services including Max, which features HBO programming, Warner Bros. films, original series and other entertainment content, and discovery+, which focuses on lifestyle, documentary and nonfiction programming.