Harbor Island Capital LLC Has $6.72 Million Stock Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Harbor Island Capital LLC lowered its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 8.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 535,938 shares of the company’s stock after selling 48,044 shares during the period. Warner Bros. Discovery makes up about 3.6% of Harbor Island Capital LLC’s holdings, making the stock its 12th biggest position. Harbor Island Capital LLC’s holdings in Warner Bros. Discovery were worth $6,721,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Resources Investment Advisors LLC. boosted its holdings in Warner Bros. Discovery by 20.8% in the first quarter. Resources Investment Advisors LLC. now owns 36,733 shares of the company’s stock worth $555,000 after acquiring an additional 6,316 shares in the last quarter. Vestmark Advisory Solutions Inc. boosted its holdings in Warner Bros. Discovery by 4.1% in the first quarter. Vestmark Advisory Solutions Inc. now owns 27,954 shares of the company’s stock worth $422,000 after acquiring an additional 1,105 shares in the last quarter. Summit Trail Advisors LLC boosted its holdings in Warner Bros. Discovery by 13.6% in the first quarter. Summit Trail Advisors LLC now owns 14,967 shares of the company’s stock worth $226,000 after acquiring an additional 1,789 shares in the last quarter. Ballentine Partners LLC boosted its holdings in Warner Bros. Discovery by 11.7% in the first quarter. Ballentine Partners LLC now owns 14,731 shares of the company’s stock worth $222,000 after acquiring an additional 1,541 shares in the last quarter. Finally, Drive Wealth Management LLC bought a new position in Warner Bros. Discovery in the first quarter worth approximately $183,000. Institutional investors and hedge funds own 58.26% of the company’s stock.

Warner Bros. Discovery Stock Performance

NASDAQ:WBD traded down $0.02 during trading hours on Tuesday, reaching $11.64. The stock had a trading volume of 5,900,047 shares, compared to its average volume of 20,426,195. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a 50 day simple moving average of $12.68 and a 200 day simple moving average of $13.11. Warner Bros. Discovery, Inc. has a 12-month low of $8.82 and a 12-month high of $16.34.

Warner Bros. Discovery (NASDAQ:WBD) last released its earnings results on Thursday, August 3rd. The company reported ($0.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.12). Warner Bros. Discovery had a positive return on equity of 1.27% and a negative net margin of 16.04%. The firm had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.44 billion. During the same period in the prior year, the business earned ($0.11) earnings per share. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. Sell-side analysts forecast that Warner Bros. Discovery, Inc. will post -1.01 earnings per share for the current year.

Insider Activity

In related news, insider Gerhard Zeiler purchased 38,000 shares of Warner Bros. Discovery stock in a transaction dated Monday, August 7th. The stock was bought at an average cost of $14.09 per share, for a total transaction of $535,420.00. Following the completion of the transaction, the insider now owns 329,032 shares in the company, valued at $4,636,060.88. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on WBD shares. Evercore ISI cut their price target on Warner Bros. Discovery from $25.00 to $20.00 and set an “outperform” rating on the stock in a report on Monday, July 24th. Benchmark restated a “buy” rating and issued a $26.00 target price on shares of Warner Bros. Discovery in a report on Monday, August 7th. Truist Financial restated a “buy” rating and issued a $17.00 target price on shares of Warner Bros. Discovery in a report on Wednesday, September 6th. Morgan Stanley restated an “equal weight” rating and issued a $15.00 target price on shares of Warner Bros. Discovery in a report on Friday, August 4th. Finally, Barclays raised their target price on Warner Bros. Discovery from $14.00 to $15.00 and gave the company an “equal weight” rating in a report on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Warner Bros. Discovery currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.56.

Warner Bros. Discovery Company Profile

Warner Bros. Discovery, Inc, operates 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 lienses television programs to third parties and networks 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.