Squarepoint Ops LLC Has $117.36 Million Holdings in Warner Bros. Discovery, Inc. $WBD

Squarepoint Ops LLC increased its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 19.8% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 4,401,898 shares of the company’s stock after purchasing an additional 726,437 shares during the period. Squarepoint Ops LLC’s holdings in Warner Bros. Discovery were worth $117,355,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC raised its stake in Warner Bros. Discovery by 304.9% in the 4th quarter. Brighton Jones LLC now owns 68,950 shares of the company’s stock worth $729,000 after purchasing an additional 51,920 shares in the last quarter. NewEdge Advisors LLC increased its holdings in shares of Warner Bros. Discovery by 50.5% during the first quarter. NewEdge Advisors LLC now owns 63,254 shares of the company’s stock worth $679,000 after purchasing an additional 21,228 shares during the period. Empowered Funds LLC increased its holdings in shares of Warner Bros. Discovery by 6.2% during the first quarter. Empowered Funds LLC now owns 65,082 shares of the company’s stock worth $698,000 after purchasing an additional 3,779 shares during the period. Focus Partners Wealth raised its position in shares of Warner Bros. Discovery by 91.6% in the first quarter. Focus Partners Wealth now owns 116,821 shares of the company’s stock valued at $1,254,000 after buying an additional 55,837 shares in the last quarter. Finally, Baird Financial Group Inc. boosted its stake in shares of Warner Bros. Discovery by 3.8% in the second quarter. Baird Financial Group Inc. now owns 111,450 shares of the company’s stock valued at $1,277,000 after buying an additional 4,062 shares during the period. Institutional investors own 59.95% of the company’s stock.

Insider Buying and Selling at Warner Bros. Discovery

In other news, Director Anton J. Levy sold 340,000 shares of the stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $28.39, for a total transaction of $9,652,600.00. Following the transaction, the director owned 618,067 shares of the company’s stock, valued at $17,546,922.13. This represents a 35.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO David Zaslav sold 194,999 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $28.02, for a total value of $5,463,871.98. Following the completion of the transaction, the chief executive officer owned 6,807,934 shares in the company, valued at approximately $190,758,310.68. The trade was a 2.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 2,290,749 shares of company stock valued at $63,652,233 over the last ninety days. Insiders own 0.70% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on WBD. Freedom Capital upgraded Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 10th. Seaport Research Partners cut Warner Bros. Discovery from a “buy” rating to a “neutral” rating in a research report on Monday, July 27th. Huber Research raised shares of Warner Bros. Discovery from an “underweight” rating to an “overweight” rating in a research report on Monday, June 1st. Weiss Ratings upgraded shares of Warner Bros. Discovery from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Tuesday, August 18th. Finally, Zacks Research upgraded shares of Warner Bros. Discovery from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 25th. 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’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $27.69.

Warner Bros. Discovery Price Performance

Shares of WBD opened at $28.12 on Wednesday. Warner Bros. Discovery, Inc. has a 12-month low of $12.00 and a 12-month high of $30.00. The business has a 50-day simple moving average of $27.14 and a two-hundred day simple moving average of $27.25. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.90. The stock has a market cap of $70.60 billion, a PE ratio of -22.14 and a beta of 1.57.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.20. The firm had revenue of $8.72 billion during the quarter, compared to analysts’ expectations of $9.25 billion. Warner Bros. Discovery had a negative net margin of 8.77% and a negative return on equity of 8.91%. The company’s revenue was down 11.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.63 EPS. Analysts anticipate that Warner Bros. Discovery, Inc. will post -1.11 earnings per share for the current fiscal year.

Warner Bros. Discovery Profile

Warner Bros. Discovery, Inc is a global media and entertainment company that develops, produces and distributes television, film and digital content. Its portfolio includes Warner Bros. film and television studios, HBO, CNN, Discovery, TLC, HGTV, Food Network, TNT Sports and other well-known brands.

The company operates streaming services including Max, which features HBO programming, Warner Bros. films, original series and other entertainment content, and discovery+, which focuses on lifestyle, documentary and nonfiction programming.