Oribel Capital Management LP Has $13.07 Million Stock Position in Warner Bros. Discovery, Inc. $WBD

Oribel Capital Management LP increased its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 93.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,140,600 shares of the company’s stock after acquiring an additional 549,700 shares during the quarter. Oribel Capital Management LP’s holdings in Warner Bros. Discovery were worth $13,071,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Norges Bank bought a new position in shares of Warner Bros. Discovery during the 2nd quarter worth about $306,848,000. Independent Franchise Partners LLP acquired a new stake in Warner Bros. Discovery during the first quarter worth about $140,224,000. Nuveen LLC bought a new position in Warner Bros. Discovery during the first quarter valued at about $96,971,000. Sound Shore Management Inc CT acquired a new position in Warner Bros. Discovery in the 2nd quarter valued at approximately $97,951,000. Finally, Apollo Management Holdings L.P. bought a new stake in shares of Warner Bros. Discovery in the 1st quarter worth approximately $65,031,000. 59.95% of the stock is owned by institutional investors.

Warner Bros. Discovery Stock Up 6.3%

Shares of NASDAQ:WBD opened at $26.08 on Friday. The company’s fifty day moving average is $21.38 and its 200-day moving average is $15.52. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.07 and a current ratio of 1.07. Warner Bros. Discovery, Inc. has a 52 week low of $7.52 and a 52 week high of $26.10. The company has a market capitalization of $64.63 billion, a PE ratio of 137.27, a P/E/G ratio of 1.00 and a beta of 1.60.

Warner Bros. Discovery (NASDAQ:WBD) last announced its earnings results on Thursday, November 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). The firm had revenue of $9.05 billion for the quarter, compared to analyst estimates of $9.17 billion. Warner Bros. Discovery had a return on equity of 1.34% and a net margin of 1.28%.The company’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.05 EPS. Equities research analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Gunnar Wiedenfels sold 530,793 shares of Warner Bros. Discovery stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $19.50, for a total value of $10,350,463.50. Following the completion of 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 is accessible through this link. Also, CAO Lori C. Locke sold 5,000 shares of the stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $24.14, for a total value of $120,700.00. Following the sale, the chief accounting officer owned 120,084 shares in the company, valued at approximately $2,898,827.76. This trade represents a 4.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 1,207,325 shares of company stock worth $23,174,315. Insiders own 1.90% of the company’s stock.

Wall Street Analysts Forecast Growth

WBD has been the topic of a number of research reports. Raymond James Financial boosted their price objective on Warner Bros. Discovery from $22.00 to $25.00 and gave the company an “outperform” rating in a research report on Friday, November 7th. Rothschild Redb upgraded shares of Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 30th. Seaport Global Securities increased their price objective on shares of Warner Bros. Discovery from $15.00 to $24.00 and gave the company a “buy” rating in a research note on Friday, October 3rd. Wells Fargo & Company raised their price objective on shares of Warner Bros. Discovery from $21.00 to $25.00 and gave the stock an “equal weight” rating in a report on Friday, November 7th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Warner Bros. Discovery from $23.00 to $26.00 and gave the company a “buy” rating in a research note on Thursday, November 13th. Three research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.92.

About Warner Bros. Discovery

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.