Beck Mack & Oliver LLC Has $39.73 Million Stock Holdings in Warner Bros. Discovery, Inc. $WBD

Beck Mack & Oliver LLC decreased its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 9.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,034,156 shares of the company’s stock after selling 209,023 shares during the period. Beck Mack & Oliver LLC owned about 0.08% of Warner Bros. Discovery worth $39,727,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in WBD. Alliancebernstein L.P. boosted its holdings in shares of Warner Bros. Discovery by 8.6% during the 3rd quarter. Alliancebernstein L.P. now owns 3,004,183 shares of the company’s stock valued at $58,672,000 after acquiring an additional 238,531 shares in the last quarter. Ameriprise Financial Inc. grew its position in Warner Bros. Discovery by 6.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 905,637 shares of the company’s stock worth $17,689,000 after acquiring an additional 50,861 shares during the last quarter. Lazard Asset Management LLC increased its holdings in Warner Bros. Discovery by 85.1% in the 3rd quarter. Lazard Asset Management LLC now owns 12,956 shares of the company’s stock worth $253,000 after purchasing an additional 5,956 shares in the last quarter. Creative Planning increased its holdings in Warner Bros. Discovery by 115.0% in the 3rd quarter. Creative Planning now owns 770,690 shares of the company’s stock worth $15,052,000 after purchasing an additional 412,151 shares in the last quarter. Finally, New England Asset Management Inc. bought a new position in Warner Bros. Discovery in the third quarter valued at about $96,000. Institutional investors and hedge funds own 59.95% of the company’s stock.

Warner Bros. Discovery Price Performance

Shares of WBD opened at $27.14 on Friday. The business has a 50-day moving average of $28.15 and a 200-day moving average of $23.86. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.06 and a quick ratio of 1.06. The company 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, Inc. has a 1 year low of $7.52 and a 1 year high of $30.00.

Warner Bros. Discovery (NASDAQ:WBD) last announced its earnings results on Thursday, February 26th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of $0.09 by ($0.19). The company had revenue of $9.46 billion during the quarter, compared to the consensus estimate 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 was down 5.7% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.20) earnings per share. As a group, equities research analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Insider Transactions at Warner Bros. Discovery

In related news, CEO David Zaslav sold 4,004,149 shares of Warner Bros. Discovery stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $28.26, for a total transaction of $113,157,250.74. Following the completion of the transaction, the chief executive officer owned 7,200,627 shares of the company’s stock, valued at $203,489,719.02. This trade represents a 35.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gerhard Zeiler sold 600,000 shares of Warner Bros. Discovery stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $28.02, for a total transaction of $16,812,000.00. Following the transaction, the insider directly owned 672,649 shares of the company’s stock, valued at $18,847,624.98. This represents a 47.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 7,571,827 shares of company stock worth $213,302,225. Company insiders own 1.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Morgan Stanley set a $29.00 price target on Warner Bros. Discovery in a research note on Thursday, December 18th. Deutsche Bank Aktiengesellschaft lowered shares of Warner Bros. Discovery from a “buy” rating to a “hold” rating and raised their price objective for the company from $29.50 to $31.00 in a report on Friday, February 27th. Sanford C. Bernstein lifted their target price on shares of Warner Bros. Discovery from $23.50 to $27.75 and gave the stock a “market perform” rating in a research report on Tuesday, February 24th. Barrington Research lowered shares of Warner Bros. Discovery from an “outperform” rating to a “hold” rating in a report on Friday, December 5th. Finally, Guggenheim cut shares of Warner Bros. Discovery from a “buy” rating to a “neutral” rating and upped their price target for the company from $25.00 to $30.00 in a research report on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $26.30.

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.