Headlands Technologies LLC Decreases Holdings in Warner Bros. Discovery, Inc. $WBD

Headlands Technologies LLC lowered its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 74.6% during the second quarter, HoldingsChannel.com reports. The fund owned 120,486 shares of the company’s stock after selling 354,575 shares during the quarter. Headlands Technologies LLC’s holdings in Warner Bros. Discovery were worth $3,212,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Venturi Wealth Management LLC raised its holdings in Warner Bros. Discovery by 4.5% during the first quarter. Venturi Wealth Management LLC now owns 8,462 shares of the company’s stock worth $232,000 after purchasing an additional 367 shares during the last quarter. Krilogy Financial LLC grew its holdings in Warner Bros. Discovery by 2.6% in the first quarter. Krilogy Financial LLC now owns 14,809 shares of the company’s stock valued at $406,000 after purchasing an additional 369 shares during the last quarter. Cromwell Holdings LLC increased its position in shares of Warner Bros. Discovery by 7.6% in the second quarter. Cromwell Holdings LLC now owns 5,467 shares of the company’s stock valued at $146,000 after buying an additional 386 shares in the last quarter. Elevation Wealth Partners LLC raised its stake 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 worth $27,000 after buying an additional 395 shares during the last quarter. Finally, Optas LLC raised its stake in shares of Warner Bros. Discovery by 2.7% during the 1st quarter. Optas LLC now owns 15,529 shares of the company’s stock worth $426,000 after buying an additional 409 shares during the last quarter. 59.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Kenneth W. Lowe sold 120,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $26.97, for a total transaction of $3,236,400.00. Following the transaction, the director owned 990,108 shares of the company’s stock, valued at approximately $26,703,212.76. This represents a 10.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO David Zaslav sold 194,999 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $28.02, for a total transaction of $5,463,871.98. Following the sale, the chief executive officer owned 6,807,934 shares in the company, valued at approximately $190,758,310.68. This trade represents a 2.78% decrease in their position. 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 1,750,749 shares of company stock valued at $48,329,633 over the last quarter. 0.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on WBD. Weiss Ratings upgraded shares of Warner Bros. Discovery from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Tuesday, August 18th. Zacks Research upgraded shares of Warner Bros. Discovery from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 25th. UBS Group upped their price target on shares of Warner Bros. Discovery from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Seaport Research Partners lowered shares of Warner Bros. Discovery from a “buy” rating to a “neutral” rating in a research report on Monday, July 27th. Finally, Guggenheim reissued a “neutral” rating on shares of Warner Bros. Discovery in a research note on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $27.69.

Warner Bros. Discovery Price Performance

WBD opened at $28.77 on Monday. 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 cap of $72.23 billion, a P/E ratio of -22.65 and a beta of 1.55. Warner Bros. Discovery, Inc. has a 52 week low of $11.25 and a 52 week high of $30.00. The business’s fifty day simple moving average is $26.95 and its 200 day simple moving average is $27.24.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.06 EPS for the quarter, topping 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 firm had revenue of $8.72 billion during the quarter, compared to analysts’ expectations of $9.25 billion. During the same quarter last year, the business posted $0.63 EPS. The firm’s quarterly revenue was down 11.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Warner Bros. Discovery, Inc. will post -1.11 EPS for the current fiscal year.

About Warner Bros. Discovery

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.