CenterStar Asset Management LLC Buys Shares of 18,600 Warner Bros. Discovery, Inc. $WBD

CenterStar Asset Management LLC purchased a new position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the 3rd quarter, Holdings Channel.com reports. The firm purchased 18,600 shares of the company’s stock, valued at approximately $364,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of WBD. Vanguard Group Inc. increased its stake in Warner Bros. Discovery by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 262,477,555 shares of the company’s stock valued at $3,007,993,000 after buying an additional 5,657,524 shares during the period. Geode Capital Management LLC increased its stake in shares of Warner Bros. Discovery by 0.9% during the second quarter. Geode Capital Management LLC now owns 60,091,463 shares of the company’s stock worth $685,798,000 after acquiring an additional 551,548 shares during the period. Invesco Ltd. increased its stake in shares of Warner Bros. Discovery by 2.8% during the second quarter. Invesco Ltd. now owns 44,574,492 shares of the company’s stock worth $510,824,000 after acquiring an additional 1,233,195 shares during the period. Sessa Capital IM L.P. raised its holdings in Warner Bros. Discovery by 4.0% during the first quarter. Sessa Capital IM L.P. now owns 29,555,277 shares of the company’s stock worth $317,128,000 after purchasing an additional 1,144,849 shares in the last quarter. Finally, Norges Bank acquired a new stake in Warner Bros. Discovery in the second quarter valued at about $306,848,000. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Warner Bros. Discovery Stock Up 0.5%

Warner Bros. Discovery stock opened at $28.95 on Wednesday. Warner Bros. Discovery, Inc. has a fifty-two week low of $7.52 and a fifty-two week high of $30.00. The firm has a market capitalization of $71.73 billion, a price-to-earnings ratio of 152.35 and a beta of 1.60. The stock’s fifty day moving average is $24.86 and its two-hundred day moving average is $17.85. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.07 and a current ratio of 1.07.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.02). The business had revenue of $9.05 billion during the quarter, compared to analysts’ expectations of $9.17 billion. Warner Bros. Discovery had a return on equity of 1.34% and a net margin of 1.28%.Warner Bros. Discovery’s quarterly revenue was down 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.05 earnings per share. Analysts predict that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Insider Activity

In related news, CAO Lori C. Locke sold 4,122 shares of Warner Bros. Discovery stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $28.92, for a total transaction of $119,208.24. Following the completion of the transaction, the chief accounting officer directly owned 100,962 shares in the company, valued at $2,919,821.04. The trade was a 3.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Gunnar Wiedenfels sold 242,994 shares of the company’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $29.50, for a total value of $7,168,323.00. Following the completion of the sale, the chief financial officer directly owned 918,940 shares in the company, valued at approximately $27,108,730. The trade was a 20.91% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 489,326 shares of company stock worth $12,781,456 in the last ninety days. Insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

WBD has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $29.50 target price on shares of Warner Bros. Discovery in a research report on Monday, December 8th. Argus set a $28.00 price objective on Warner Bros. Discovery in a research report on Monday, December 8th. Rothschild & Co Redburn raised Warner Bros. Discovery from a “neutral” rating to a “buy” rating and set a $28.00 target price for the company in a report on Thursday, October 30th. Rothschild Redb upgraded shares of Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 30th. Finally, Barclays set a $20.00 price target on shares of Warner Bros. Discovery in a report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.22.

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.