BTG Pactual Asset Management US LLC Grows Stock Position in Warner Bros. Discovery, Inc. $WBD

BTG Pactual Asset Management US LLC increased its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 45.4% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 206,400 shares of the company’s stock after acquiring an additional 64,400 shares during the quarter. BTG Pactual Asset Management US LLC’s holdings in Warner Bros. Discovery were worth $5,503,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Swiss RE Ltd. bought a new position in Warner Bros. Discovery in the fourth quarter worth approximately $26,000. Harbor Investment Advisory LLC grew its position in shares of Warner Bros. Discovery by 111.2% during the 2nd quarter. Harbor Investment Advisory LLC now owns 942 shares of the company’s stock valued at $25,000 after acquiring an additional 496 shares during the period. Field & Main Bank bought a new stake in shares of Warner Bros. Discovery during the 2nd quarter valued at $26,000. Fideuram Asset Management Ireland dac purchased a new stake in shares of Warner Bros. Discovery in the 4th quarter worth $29,000. Finally, Elevation Wealth Partners LLC increased its stake in shares of Warner Bros. Discovery by 64.3% in the 2nd quarter. Elevation Wealth Partners LLC now owns 1,009 shares of the company’s stock worth $27,000 after purchasing an additional 395 shares in the last quarter. 59.95% of the stock is currently owned by institutional investors.

Warner Bros. Discovery Price Performance

NASDAQ:WBD opened at $28.77 on Monday. The business’s 50-day simple moving average is $26.95 and its two-hundred day simple moving average is $27.24. Warner Bros. Discovery, Inc. has a 52 week low of $11.25 and a 52 week high of $30.00. The stock has a market cap of $72.23 billion, a PE ratio of -22.65 and a beta of 1.55. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.90.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.20. Warner Bros. Discovery had a negative return on equity of 8.91% and a negative net margin of 8.77%.The firm had revenue of $8.72 billion during the quarter, compared to analyst estimates of $9.25 billion. During the same quarter in the prior year, the company posted $0.63 earnings per share. The business’s quarterly revenue was down 11.2% compared to the same quarter last year. As a group, analysts forecast that Warner Bros. Discovery, Inc. will post -1.11 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on WBD shares. Seaport Research Partners downgraded Warner Bros. Discovery from a “buy” rating to a “neutral” rating in a research report on Monday, July 27th. Weiss Ratings raised Warner Bros. Discovery from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Tuesday, August 18th. Huber Research raised Warner Bros. Discovery from an “underweight” rating to an “overweight” rating in a research report on Monday, June 1st. Zacks Research upgraded Warner Bros. Discovery from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 25th. Finally, Freedom Capital raised shares of Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a report on Monday, August 10th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $27.69.

Insiders Place Their Bets

In other Warner Bros. Discovery news, Director Kenneth W. Lowe sold 120,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $26.97, for a total value of $3,236,400.00. Following the completion of the transaction, the director directly owned 990,108 shares in the company, valued at $26,703,212.76. This represents a 10.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Gerhard Zeiler sold 591,038 shares of the stock in a transaction that occurred on 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 sale, the insider directly owned 537,436 shares of the company’s stock, valued at approximately $14,537,643.80. This trade represents a 52.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,750,749 shares of company stock valued at $48,329,633 in the last 90 days. 0.70% of the stock is currently owned by company insiders.

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.