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

Assenagon Asset Management S.A. lessened its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 72.9% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 616,776 shares of the company’s stock after selling 1,655,118 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Warner Bros. Discovery were worth $7,068,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Flagship Harbor Advisors LLC increased its holdings in Warner Bros. Discovery by 9.7% in the 1st 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 in the last quarter. CX Institutional grew its stake in shares of Warner Bros. Discovery by 5.7% in the first quarter. CX Institutional now owns 27,324 shares of the company’s stock valued at $293,000 after buying an additional 1,465 shares in the last quarter. Bartlett & CO. Wealth Management LLC grew its stake in shares of Warner Bros. Discovery by 9.0% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 18,825 shares of the company’s stock valued at $202,000 after buying an additional 1,561 shares in the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of Warner Bros. Discovery by 2.6% in the first quarter. Sequoia Financial Advisors LLC now owns 62,966 shares of the company’s stock valued at $676,000 after buying an additional 1,588 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC grew its position in Warner Bros. Discovery by 8.9% in the first 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 in the last quarter. Institutional investors and hedge funds own 59.95% of the company’s stock.

Warner Bros. Discovery Trading Down 0.3%

Warner Bros. Discovery stock opened at $19.56 on Wednesday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.92. The firm has a 50-day moving average price of $13.43 and a two-hundred day moving average price of $11.04. The firm has a market capitalization of $48.43 billion, a price-to-earnings ratio of 65.20, a PEG ratio of 2.61 and a beta of 1.59. Warner Bros. Discovery, Inc. has a 52-week low of $7.25 and a 52-week high of $20.12.

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

Analysts Set New Price Targets

Several analysts have issued reports on WBD shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a research report on Friday, September 12th. Raymond James Financial lowered their price target on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an “outperform” rating for the company in a report on Friday, August 8th. Morgan Stanley raised their price target on shares of Warner Bros. Discovery from $10.00 to $13.00 and gave the company an “equal weight” rating in a report on Wednesday, August 6th. Wells Fargo & Company raised their target price on Warner Bros. Discovery from $13.00 to $14.00 and gave the company an “equal weight” rating in a research note on Thursday, September 11th. Finally, Barclays raised their target price on Warner Bros. Discovery from $9.00 to $13.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 9th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and fourteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Warner Bros. Discovery has a consensus rating of “Hold” and an average target price of $13.96.

Insiders Place Their Bets

In related news, insider Bruce Campbell sold 289,322 shares of the company’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $16.48, for a total value of $4,768,026.56. Following the completion of the sale, the insider owned 402,464 shares of the company’s stock, valued at $6,632,606.72. This represents a 41.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Gunnar Wiedenfels sold 530,793 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $19.50, for a total transaction of $10,350,463.50. Following the completion of the sale, the chief financial officer directly owned 1,141,150 shares of the company’s stock, valued at approximately $22,252,425. This represents a 31.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 970,115 shares of company stock worth $17,818,490. 1.80% of the stock is owned by company insiders.

About Warner Bros. Discovery

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.