Prosperitas Financial LLC Has $6.26 Million Stake in Warner Bros. Discovery, Inc. $WBD

Prosperitas Financial LLC decreased its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 31.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 217,103 shares of the company’s stock after selling 99,296 shares during the period. Warner Bros. Discovery makes up approximately 2.4% of Prosperitas Financial LLC’s holdings, making the stock its 15th biggest position. Prosperitas Financial LLC’s holdings in Warner Bros. Discovery were worth $6,257,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of WBD. Vanguard Group Inc. lifted its holdings in Warner Bros. Discovery by 7.1% in the third quarter. Vanguard Group Inc. now owns 281,214,155 shares of the company’s stock valued at $5,492,112,000 after buying an additional 18,736,600 shares during the period. Jericho Capital Asset Management L.P. raised its holdings in shares of Warner Bros. Discovery by 108.9% during the third quarter. Jericho Capital Asset Management L.P. now owns 35,095,390 shares of the company’s stock valued at $685,413,000 after purchasing an additional 18,291,865 shares during the period. Duquesne Family Office LLC acquired a new position in shares of Warner Bros. Discovery during the second quarter valued at about $74,916,000. Allianz Asset Management GmbH raised its holdings in shares of Warner Bros. Discovery by 170.1% during the third quarter. Allianz Asset Management GmbH now owns 9,326,978 shares of the company’s stock valued at $182,156,000 after purchasing an additional 5,873,183 shares during the period. Finally, Amundi raised its holdings in shares of Warner Bros. Discovery by 59.6% during the third quarter. Amundi now owns 15,523,538 shares of the company’s stock valued at $296,189,000 after purchasing an additional 5,798,592 shares during the period. Institutional investors and hedge funds own 59.95% of the company’s stock.

Warner Bros. Discovery Trading Up 0.5%

NASDAQ:WBD opened at $27.24 on Tuesday. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.73 and a quick ratio of 0.73. The firm has a 50-day moving average of $27.42 and a 200-day moving average of $26.77. The company has a market cap of $68.28 billion, a PE ratio of -38.91 and a beta of 1.57. Warner Bros. Discovery, Inc. has a one year low of $8.82 and a one year high of $30.00.

Warner Bros. Discovery (NASDAQ:WBD) last posted its earnings results on Wednesday, May 6th. The company reported ($1.17) EPS for the quarter, missing the consensus estimate of ($0.10) by ($1.07). The business had revenue of $8.89 billion for the quarter, compared to the consensus estimate of $8.89 billion. Warner Bros. Discovery had a negative return on equity of 4.77% and a negative net margin of 4.67%.The company’s revenue was down 1.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.18) earnings per share. As a group, equities research analysts expect that Warner Bros. Discovery, Inc. will post -0.15 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on WBD shares. TD Cowen upped their price objective on shares of Warner Bros. Discovery from $22.00 to $26.00 and gave the company a “hold” rating in a report on Friday, February 27th. Huber Research lowered shares of Warner Bros. Discovery from a “strong-buy” rating to a “strong sell” rating in a report on Friday, February 27th. UBS Group upped their price objective on shares of Warner Bros. Discovery from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Thursday. Argus dropped their price objective on shares of Warner Bros. Discovery from $32.00 to $31.00 and set a “buy” rating on the stock in a report on Tuesday, March 3rd. Finally, Zacks Research lowered shares of Warner Bros. Discovery from a “hold” rating to a “strong sell” rating in a report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, thirteen have assigned a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Warner Bros. Discovery has a consensus rating of “Hold” and an average target price of $26.36.

Insider Activity at Warner Bros. Discovery

In other news, Director Paul A. Gould sold 600,000 shares of the business’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $27.35, for a total transaction of $16,410,000.00. Following the completion of the sale, the director directly owned 244,357 shares of the company’s stock, valued at $6,683,163.95. The trade was a 71.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Gerhard Zeiler sold 600,000 shares of the business’s stock in a transaction dated 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 sale, the insider directly owned 672,649 shares of the company’s stock, valued at approximately $18,847,624.98. The trade was a 47.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 8,206,827 shares of company stock valued at $230,674,025 over the last quarter. 1.80% of the stock is currently owned by company insiders.

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.