UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $401.10 Million Stock Position in Warner Bros. Discovery, Inc. $WBD

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 6.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 15,044,844 shares of the company’s stock after selling 975,206 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.60% of Warner Bros. Discovery worth $401,096,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in WBD. Bank of America Corp DE increased its stake in Warner Bros. Discovery by 21.9% in the first quarter. Bank of America Corp DE now owns 16,616,949 shares of the company’s stock valued at $456,301,000 after purchasing an additional 2,980,900 shares in the last quarter. Handelsbanken Fonder AB boosted its position in shares of Warner Bros. Discovery by 130.8% during the 4th quarter. Handelsbanken Fonder AB now owns 1,008,638 shares of the company’s stock worth $29,069,000 after purchasing an additional 571,612 shares in the last quarter. Brighton Jones LLC grew its stake in shares of 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 buying an additional 51,920 shares during the period. Varma Mutual Pension Insurance Co acquired a new stake in shares of Warner Bros. Discovery in the 4th quarter valued at about $12,372,000. Finally, Geode Capital Management LLC increased its position in Warner Bros. Discovery by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 66,597,575 shares of the company’s stock valued at $1,912,634,000 after buying an additional 1,028,346 shares in the last quarter. 59.95% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on WBD. UBS Group upped their price target on Warner Bros. Discovery from $30.00 to $31.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Huber Research raised Warner Bros. Discovery from an “underweight” rating to an “overweight” rating in a research note on Monday, June 1st. Freedom Capital upgraded Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a report on Monday, August 10th. Guggenheim reaffirmed a “neutral” rating on shares of Warner Bros. Discovery in a research report on Thursday, May 7th. Finally, Weiss Ratings upgraded Warner Bros. Discovery from a “sell (d-)” rating to a “sell (d+)” rating in a report on Tuesday, August 18th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $27.69.

Warner Bros. Discovery Stock Performance

WBD opened at $28.77 on Monday. Warner Bros. Discovery, Inc. has a fifty-two week low of $11.25 and a fifty-two week high of $30.00. The firm has a market capitalization of $72.23 billion, a PE ratio of -22.65 and a beta of 1.55. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.78 and a quick ratio of 0.78. The company’s 50-day moving average is $26.95 and its 200 day moving average is $27.24.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.06 earnings per share (EPS) for the quarter, beating 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 return on equity of 8.91% and a negative net margin of 8.77%.The company’s quarterly revenue was down 11.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.63 EPS. As a group, research analysts predict that Warner Bros. Discovery, Inc. will post -1.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Fazal F. Merchant sold 71,539 shares of Warner Bros. Discovery stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $27.75, for a total transaction of $1,985,207.25. Following the transaction, the director owned 33,067 shares of the company’s stock, valued at $917,609.25. The trade was a 68.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Gerhard Zeiler sold 591,038 shares of the company’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $27.05, for a total value of $15,987,577.90. Following the sale, the insider owned 537,436 shares of the company’s stock, valued at $14,537,643.80. This trade represents a 52.37% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 1,750,749 shares of company stock worth $48,329,633 in the last ninety days. Corporate insiders own 0.70% of the company’s stock.

Warner Bros. Discovery Company Profile

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.