Warner Bros. Discovery, Inc. $WBD Shares Sold by Harbor Island Capital LLC

Harbor Island Capital LLC lessened its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 4.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 927,890 shares of the company’s stock after selling 43,380 shares during the period. Warner Bros. Discovery makes up approximately 6.6% of Harbor Island Capital LLC’s investment portfolio, making the stock its 4th largest position. Harbor Island Capital LLC’s holdings in Warner Bros. Discovery were worth $24,738,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in WBD. Swiss RE Ltd. bought a new position in shares of Warner Bros. Discovery during the fourth quarter worth approximately $26,000. Harbor Investment Advisory LLC boosted its stake in Warner Bros. Discovery by 111.2% in the 2nd quarter. Harbor Investment Advisory LLC now owns 942 shares of the company’s stock valued at $25,000 after purchasing an additional 496 shares during the period. Field & Main Bank bought a new stake in Warner Bros. Discovery in the 2nd quarter valued at $26,000. Fideuram Asset Management Ireland dac acquired a new position in Warner Bros. Discovery in the 4th quarter valued at $29,000. Finally, Elevation Wealth Partners LLC grew its holdings in Warner Bros. Discovery by 64.3% in the 2nd quarter. Elevation Wealth Partners LLC now owns 1,009 shares of the company’s stock valued at $27,000 after buying an additional 395 shares in the last quarter. Institutional investors and hedge funds own 59.95% of the company’s stock.

Insider Buying and Selling

In related news, insider Gerhard Zeiler sold 591,038 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $27.05, for a total transaction of $15,987,577.90. Following the completion of the sale, the insider owned 537,436 shares of the company’s stock, valued at $14,537,643.80. This represents a 52.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Fazal F. Merchant sold 71,539 shares of the stock in a transaction dated 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 sale, the director owned 33,067 shares in the company, valued at $917,609.25. The trade was a 68.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,750,749 shares of company stock worth $48,329,633 over the last three months. Company insiders own 0.70% of the company’s stock.

Warner Bros. Discovery Price Performance

Warner Bros. Discovery stock opened at $28.32 on Wednesday. The stock’s fifty day moving average price is $27.01 and its two-hundred day moving average price is $27.25. Warner Bros. Discovery, Inc. has a one year low of $11.25 and a one year high of $30.00. 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 firm has a market cap of $71.10 billion, a PE ratio of -22.30 and a beta of 1.57.

Warner Bros. Discovery (NASDAQ:WBD) last released its earnings results on Thursday, August 6th. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.20. The firm 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 revenue was down 11.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.63 EPS. As a group, research analysts expect that Warner Bros. Discovery, Inc. will post -1.11 EPS for the current fiscal year.

Wall Street Analyst Weigh In

WBD has been the subject of a number of research reports. Weiss Ratings raised Warner Bros. Discovery from a “sell (d-)” rating to a “sell (d+)” rating in a report on Tuesday, August 18th. 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. Zacks Research raised shares of Warner Bros. Discovery from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 25th. Guggenheim reaffirmed a “neutral” rating on shares of Warner Bros. Discovery in a research report on Thursday, May 7th. Finally, Huber Research upgraded shares of Warner Bros. Discovery from an “underweight” rating to an “overweight” rating in a research note on Monday, June 1st. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $27.69.

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.