47,610 Shares of Warner Bros. Discovery, Inc. $WBD Bought by Byrne Asset Management LLC

Byrne Asset Management LLC purchased a new stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) during the third quarter, according to its most recent disclosure with the SEC. The firm purchased 47,610 shares of the company’s stock, valued at approximately $1,474,000. Warner Bros. Discovery makes up approximately 0.8% of Byrne Asset Management LLC’s holdings, making the stock its 27th biggest holding.

Several other institutional investors also recently bought and sold shares of WBD. Rosenberg Matthew Hamilton raised its holdings in shares of Warner Bros. Discovery by 645.3% during the third quarter. Rosenberg Matthew Hamilton now owns 5,627 shares of the company’s stock valued at $174,000 after acquiring an additional 4,872 shares during the last quarter. CX Institutional boosted its stake in shares of Warner Bros. Discovery by 13.8% in the third quarter. CX Institutional now owns 38,104 shares of the company’s stock worth $1,179,000 after acquiring an additional 4,620 shares during the last quarter. Versant Capital Management Inc boosted its stake in shares of Warner Bros. Discovery by 7.3% in the third quarter. Versant Capital Management Inc now owns 13,408 shares of the company’s stock worth $415,000 after acquiring an additional 913 shares during the last quarter. QRG Capital Management Inc. increased its position in shares of Warner Bros. Discovery by 7.2% during the second quarter. QRG Capital Management Inc. now owns 299,996 shares of the company’s stock worth $7,998,000 after purchasing an additional 20,180 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its position in shares of Warner Bros. Discovery by 9.3% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 14,447 shares of the company’s stock worth $385,000 after purchasing an additional 1,234 shares in the last quarter. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Amy Girdwood sold 262,285 shares of the stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $27.98, for a total transaction of $7,338,734.30. Following the completion of the transaction, the insider directly owned 539,374 shares in the company, valued at approximately $15,091,684.52. This represents a 32.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO David Zaslav sold 773,173 shares of the firm’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $28.01, for a total value of $21,656,575.73. Following the sale, the chief executive officer directly owned 6,807,934 shares of the company’s stock, valued at $190,690,231.34. The trade was 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. Over the last quarter, insiders have sold 2,782,149 shares of company stock worth $77,455,972. Corporate insiders own 0.70% of the company’s stock.

Warner Bros. Discovery Trading Up 0.1%

Shares of Warner Bros. Discovery stock traded up $0.04 during mid-day trading on Tuesday, hitting $30.98. The stock had a trading volume of 435,552,453 shares, compared to its average volume of 50,219,644. The firm has a 50-day moving average of $28.39 and a two-hundred day moving average of $27.45. The firm has a market cap of $77.79 billion, a P/E ratio of -24.40 and a beta of 1.53. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.90. Warner Bros. Discovery, Inc. has a 12-month low of $17.08 and a 12-month high of $30.99.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.20. The firm had revenue of $8.72 billion for the quarter, compared to analysts’ expectations of $9.25 billion. Warner Bros. Discovery had a negative return on equity of 8.91% and a negative net margin of 8.77%.The firm’s quarterly revenue was down 11.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.63 earnings per share. Sell-side analysts forecast that Warner Bros. Discovery, Inc. will post -1.08 earnings per share for the current year.

Warner Bros. Discovery News Roundup

Here are the key news stories impacting Warner Bros. Discovery this week:

• Positive Sentiment: The transaction provides a definitive liquidity event for WBD shareholders. Depending on the consideration elected or applicable under the merger terms, holders receive cash and/or securities in the successor Skydance company rather than continuing to own standalone Warner Bros. Discovery. What Shareholders Need to Know
• Positive Sentiment: Paramount’s acquisition combines major film, television and streaming assets, potentially creating scale advantages, cost synergies and a broader content portfolio under Skydance. David Ellison will lead the new company as chairman and CEO alongside co-CEO Ynon Kreiz. Paramount Closes Merger to Form Skydance

Wall Street Analyst Weigh In

A number of research analysts have weighed in on WBD shares. Freedom Capital upgraded Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a report on Monday, August 10th. Morgan Stanley upped their target price on shares of Warner Bros. Discovery from $29.00 to $31.00 and gave the stock an “equal weight” rating in a report on Tuesday, September 22nd. Seaport Research Partners downgraded shares of Warner Bros. Discovery from a “buy” rating to a “neutral” rating in a research note on Monday, July 27th. Barclays started coverage on shares of Warner Bros. Discovery in a research report on Thursday, September 17th. They set an “equal weight” rating and a $29.00 price target on the stock. Finally, Zacks Research raised shares of Warner Bros. Discovery from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 25th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Warner Bros. Discovery has an average rating of “Hold” and an average price target of $28.61.

About Warner Bros. Discovery

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

The company serves audiences through streaming platforms, cable and broadcast networks, theatrical releases, consumer products and content licensing.