Slotnik Capital LLC Makes New $3.13 Million Investment in Warner Bros. Discovery, Inc. $WBD

Slotnik Capital LLC acquired a new position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 160,000 shares of the company’s stock, valued at approximately $3,125,000. Warner Bros. Discovery comprises approximately 1.0% of Slotnik Capital LLC’s holdings, making the stock its 15th largest position.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new stake in Warner Bros. Discovery during the second quarter worth approximately $306,848,000. Pacer Advisors Inc. lifted its stake in Warner Bros. Discovery by 4,639.8% in the third quarter. Pacer Advisors Inc. now owns 22,788,847 shares of the company’s stock valued at $445,066,000 after buying an additional 22,308,046 shares during the period. Vanguard Group Inc. lifted its stake in Warner Bros. Discovery by 7.1% in the third quarter. Vanguard Group Inc. now owns 281,214,155 shares of the company’s stock valued at $5,492,112,000 after buying an additional 18,736,600 shares during the period. Maverick Capital Ltd. bought a new position in shares of Warner Bros. Discovery during the 2nd quarter worth approximately $77,896,000. Finally, Duquesne Family Office LLC acquired a new stake in shares of Warner Bros. Discovery during the 2nd quarter worth approximately $74,916,000. 59.95% of the stock is owned by institutional investors and hedge funds.

Warner Bros. Discovery Price Performance

Shares of NASDAQ:WBD opened at $27.14 on Friday. Warner Bros. Discovery, Inc. has a twelve month low of $7.52 and a twelve month high of $30.00. The stock’s 50 day moving average is $28.15 and its 200-day moving average is $23.77. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $67.25 billion, a price-to-earnings ratio of 93.59 and a beta of 1.60.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings results on Thursday, February 26th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.19). The business had revenue of $9.46 billion during the quarter, compared to analyst estimates of $9.33 billion. Warner Bros. Discovery had a net margin of 1.95% and a return on equity of 1.98%. The business’s revenue for the quarter was down 5.7% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.20) EPS. Sell-side analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on WBD. Morgan Stanley set a $29.00 price objective on shares of Warner Bros. Discovery in a research note on Thursday, December 18th. Guggenheim lowered shares of Warner Bros. Discovery from a “buy” rating to a “neutral” rating and increased their target price for the stock from $25.00 to $30.00 in a research note on Wednesday, January 14th. TD Cowen raised their price target on shares of Warner Bros. Discovery from $22.00 to $26.00 and gave the stock a “hold” rating in a report on Friday, February 27th. Sanford C. Bernstein lifted their price target on shares of Warner Bros. Discovery from $23.50 to $27.75 and gave the company a “market perform” rating in a research note on Tuesday, February 24th. Finally, Arete Research reiterated a “neutral” rating and set a $31.25 price objective on shares of Warner Bros. Discovery in a report on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Warner Bros. Discovery presently has a consensus rating of “Hold” and an average price target of $26.30.

Insider Transactions at Warner Bros. Discovery

In other Warner Bros. Discovery news, CEO David Zaslav sold 4,004,149 shares of the firm’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $28.26, for a total value of $113,157,250.74. Following the transaction, the chief executive officer directly owned 7,200,627 shares of the company’s stock, valued at approximately $203,489,719.02. This trade represents a 35.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Priya Aiyar sold 223,512 shares of Warner Bros. Discovery stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $28.24, for a total transaction of $6,311,978.88. Following the transaction, the insider owned 919,252 shares of the company’s stock, valued at $25,959,676.48. This represents a 19.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 7,571,827 shares of company stock valued at $213,302,225. Corporate insiders own 1.90% 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.