Brevan Howard Capital Management LP Acquires 391,630 Shares of Warner Bros. Discovery, Inc. $WBD

Brevan Howard Capital Management LP grew its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 58.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,063,981 shares of the company’s stock after purchasing an additional 391,630 shares during the period. Brevan Howard Capital Management LP’s holdings in Warner Bros. Discovery were worth $12,193,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Summit Investment Advisors Inc. grew its stake in shares of Warner Bros. Discovery by 0.8% in the first quarter. Summit Investment Advisors Inc. now owns 101,522 shares of the company’s stock valued at $1,089,000 after buying an additional 795 shares in the last quarter. Premier Path Wealth Partners LLC raised its position in shares of Warner Bros. Discovery by 0.6% in the second quarter. Premier Path Wealth Partners LLC now owns 134,943 shares of the company’s stock valued at $1,546,000 after purchasing an additional 857 shares during the period. Eastern Bank increased its stake in shares of Warner Bros. Discovery by 11.6% during the second quarter. Eastern Bank now owns 8,452 shares of the company’s stock worth $97,000 after purchasing an additional 879 shares during the period. Holistic Financial Partners lifted its holdings in shares of Warner Bros. Discovery by 5.2% during the second quarter. Holistic Financial Partners now owns 18,209 shares of the company’s stock worth $209,000 after buying an additional 898 shares in the last quarter. Finally, Parkside Financial Bank & Trust boosted its holdings in Warner Bros. Discovery by 12.4% in the 2nd quarter. Parkside Financial Bank & Trust now owns 8,164 shares of the company’s stock valued at $94,000 after purchasing an additional 899 shares during the period. Institutional investors own 59.95% of the company’s stock.

Insider Buying and Selling

In other Warner Bros. Discovery news, CFO Gunnar Wiedenfels sold 530,793 shares of Warner Bros. Discovery stock in a transaction on Monday, September 15th. The stock was sold at an average price of $19.50, for a total value of $10,350,463.50. Following the completion of the sale, the chief financial officer owned 1,141,150 shares of the company’s stock, valued at approximately $22,252,425. This trade represents a 31.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Lori C. Locke sold 5,000 shares of the business’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $27.62, for a total value of $138,100.00. Following the sale, the chief accounting officer owned 110,084 shares of the company’s stock, valued at approximately $3,040,520.08. This represents a 4.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 1,020,119 shares of company stock valued at $23,131,920. 1.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on WBD shares. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $29.50 price target on shares of Warner Bros. Discovery in a report on Monday. Needham & Company LLC reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a research report on Friday, September 12th. Bank of America boosted their price target on shares of Warner Bros. Discovery from $16.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday, September 30th. The Goldman Sachs Group increased their price target on Warner Bros. Discovery from $13.00 to $14.75 and gave the company a “buy” rating in a research report on Friday, November 7th. Finally, Seaport Global Securities boosted their price target on shares of Warner Bros. Discovery from $15.00 to $24.00 and gave the stock a “buy” rating in a report on Friday, October 3rd. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $22.58.

Warner Bros. Discovery Trading Up 1.7%

Shares of WBD stock opened at $29.98 on Friday. Warner Bros. Discovery, Inc. has a 12-month low of $7.52 and a 12-month high of $30.00. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.90. The business has a 50-day moving average price of $22.35 and a two-hundred day moving average price of $16.17. The firm has a market cap of $74.29 billion, a P/E ratio of 157.80, a price-to-earnings-growth ratio of 1.06 and a beta of 1.60.

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

Warner Bros. Discovery 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.