Warner Bros. Discovery, Inc. $WBD Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. trimmed its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 72.9% in the second quarter, Holdings Channel.com reports. The fund owned 616,776 shares of the company’s stock after selling 1,655,118 shares during the period. Assenagon Asset Management S.A.’s holdings in Warner Bros. Discovery were worth $7,068,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Flagship Harbor Advisors LLC lifted its stake in Warner Bros. Discovery by 9.7% during the first quarter. Flagship Harbor Advisors LLC now owns 14,955 shares of the company’s stock valued at $160,000 after purchasing an additional 1,318 shares during the last quarter. CX Institutional lifted its position in shares of Warner Bros. Discovery by 5.7% during the 1st quarter. CX Institutional now owns 27,324 shares of the company’s stock valued at $293,000 after acquiring an additional 1,465 shares during the last quarter. Bartlett & CO. Wealth Management LLC lifted its position in shares of Warner Bros. Discovery by 9.0% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 18,825 shares of the company’s stock valued at $202,000 after acquiring an additional 1,561 shares during the last quarter. Sequoia Financial Advisors LLC lifted its position in shares of Warner Bros. Discovery by 2.6% during the 1st quarter. Sequoia Financial Advisors LLC now owns 62,966 shares of the company’s stock valued at $676,000 after acquiring an additional 1,588 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC lifted its position in shares of Warner Bros. Discovery by 8.9% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 19,756 shares of the company’s stock valued at $212,000 after acquiring an additional 1,618 shares during the last quarter. 59.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

WBD has been the subject of several analyst reports. Moffett Nathanson upped their target price on Warner Bros. Discovery from $14.00 to $23.00 and gave the company a “buy” rating in a report on Monday. Huber Research raised shares of Warner Bros. Discovery from a “strong sell” rating to a “strong-buy” rating in a research note on Monday, June 9th. Sanford C. Bernstein upped their price objective on shares of Warner Bros. Discovery from $13.00 to $16.00 and gave the company a “market perform” rating in a research note on Monday. Citigroup reduced their price target on shares of Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, May 29th. Finally, Cowen downgraded shares of Warner Bros. Discovery from a “buy” rating to a “hold” rating in a research report on Tuesday, September 16th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and fourteen have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $13.96.

Warner Bros. Discovery Stock Performance

Shares of WBD opened at $19.56 on Wednesday. The company has a market capitalization of $48.43 billion, a PE ratio of 65.20, a price-to-earnings-growth ratio of 2.61 and a beta of 1.59. Warner Bros. Discovery, Inc. has a one year low of $7.25 and a one year high of $20.12. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.04 and a quick ratio of 1.04. The company’s fifty day moving average price is $13.43 and its 200 day moving average price is $11.04.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.79. The business had revenue of $9.81 billion for the quarter, compared to analyst estimates of $9.73 billion. Warner Bros. Discovery had a return on equity of 2.14% and a net margin of 2.00%.The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the previous year, the company posted ($4.07) earnings per share. As a group, analysts expect that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Bruce Campbell sold 289,322 shares of the business’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $16.48, for a total transaction of $4,768,026.56. Following the transaction, the insider owned 402,464 shares of the company’s stock, valued at approximately $6,632,606.72. The trade was a 41.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Anton J. Levy purchased 250,000 shares of the stock in a transaction that occurred on Monday, August 11th. The shares were purchased at an average price of $10.90 per share, for a total transaction of $2,725,000.00. Following the completion of the purchase, the director directly owned 874,000 shares of the company’s stock, valued at approximately $9,526,600. This trade represents a 40.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 970,115 shares of company stock valued at $17,818,490 in the last three months. Company insiders own 1.80% of the company’s stock.

Warner Bros. Discovery Company Profile

Warner Bros. Discovery, Inc operates as a media and entertainment company worldwide. It operates through three segments: Studios, Network, and DTC. The Studios segment produces and releases feature films for initial exhibition in theaters; produces and licenses television programs to its networks and third parties and direct-to-consumer services; distributes films and television programs to various third parties and internal television; and offers streaming services and distribution through the home entertainment market, themed experience licensing, and interactive gaming.