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

Optas LLC lessened its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 37.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,841 shares of the company’s stock after selling 8,455 shares during the period. Optas LLC’s holdings in Warner Bros. Discovery were worth $159,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in WBD. Brighton Jones LLC increased its holdings in Warner Bros. Discovery by 304.9% during the fourth quarter. Brighton Jones LLC now owns 68,950 shares of the company’s stock worth $729,000 after buying an additional 51,920 shares during the last quarter. Park Avenue Securities LLC increased its holdings in Warner Bros. Discovery by 10.1% during the first quarter. Park Avenue Securities LLC now owns 50,446 shares of the company’s stock worth $541,000 after buying an additional 4,625 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in Warner Bros. Discovery by 17.0% during the first quarter. Farther Finance Advisors LLC now owns 11,853 shares of the company’s stock worth $121,000 after buying an additional 1,720 shares during the last quarter. Yousif Capital Management LLC increased its holdings in Warner Bros. Discovery by 1.6% during the first quarter. Yousif Capital Management LLC now owns 304,011 shares of the company’s stock worth $3,262,000 after buying an additional 4,881 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in Warner Bros. Discovery by 16.1% during the first quarter. GAMMA Investing LLC now owns 45,942 shares of the company’s stock worth $493,000 after buying an additional 6,354 shares during the last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Insider Activity

In other Warner Bros. Discovery news, insider Bruce Campbell sold 289,322 shares of Warner Bros. Discovery stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $16.48, for a total transaction of $4,768,026.56. Following the completion of the sale, the insider directly owned 402,464 shares in the company, valued at $6,632,606.72. The trade was a 41.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Anton J. Levy bought 250,000 shares of the company’s stock in a transaction on Monday, August 11th. The shares were bought at an average price of $10.90 per share, with a total value of $2,725,000.00. Following the completion of the transaction, the director owned 874,000 shares of the company’s stock, valued at $9,526,600. The trade was a 40.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 970,115 shares of company stock worth $17,818,490. 1.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. UBS Group increased their target price on shares of Warner Bros. Discovery from $10.00 to $20.00 and gave the stock a “neutral” rating in a research report on Monday. Seaport Global Securities increased their target price on shares of Warner Bros. Discovery from $15.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, October 3rd. Morgan Stanley increased their target price on shares of Warner Bros. Discovery from $13.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 25th. TD Cowen reiterated a “hold” rating and set a $14.00 target price on shares of Warner Bros. Discovery in a research report on Tuesday, September 16th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a research report on Friday, September 12th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and sixteen have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $16.61.

Warner Bros. Discovery Price Performance

WBD stock opened at $17.10 on Friday. The firm has a 50 day moving average of $14.93 and a 200-day moving average of $11.78. 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 12 month low of $7.25 and a 12 month high of $20.24. The firm has a market capitalization of $42.34 billion, a P/E ratio of 57.00, a price-to-earnings-growth ratio of 2.07 and a beta of 1.73.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.79. Warner Bros. Discovery had a net margin of 2.00% and a return on equity of 2.14%. The company had revenue of $9.81 billion during the quarter, compared to analyst estimates of $9.73 billion. During the same period last year, the business earned ($4.07) earnings per share. Warner Bros. Discovery’s revenue was up 1.0% compared to the same quarter last year. As a group, sell-side analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Warner Bros. Discovery Company 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.