Capricorn Fund Managers Ltd Purchases Shares of 163,668 Warner Bros. Discovery, Inc. $WBD

Key Points

• Capricorn Fund Managers opened a new position in Warner Bros. Discovery, buying 163,668 shares in Q4 worth about $4.72 million.
• Insiders have been net sellers, with Gerhard Zeiler and director Paul A. Gould each selling 600,000 shares and insiders unloading 8,206,827 shares (~$230.7M) over three months, leaving insiders with just 1.90% ownership.
• WBD missed quarterly EPS estimates (reported -$0.10 vs. $0.09 expected) on $9.46B revenue, and analysts maintain an overall Hold consensus with a $26.30 average target price.

Capricorn Fund Managers Ltd acquired a new position in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 163,668 shares of the company's stock, valued at approximately $4,717,000.

Other institutional investors have also bought and sold shares of the company. JFS Wealth Advisors LLC increased its holdings in Warner Bros. Discovery by 12.4% in the fourth quarter. JFS Wealth Advisors LLC now owns 3,425 shares of the company's stock worth $99,000 after purchasing an additional 378 shares in the last quarter. Armstrong Advisory Group Inc. grew its position in shares of Warner Bros. Discovery by 7.7% during the 4th quarter. Armstrong Advisory Group Inc. now owns 6,095 shares of the company's stock worth $176,000 after buying an additional 436 shares during the period. Concord Wealth Partners increased its stake in shares of Warner Bros. Discovery by 49.9% in the 3rd quarter. Concord Wealth Partners now owns 1,321 shares of the company's stock valued at $26,000 after acquiring an additional 440 shares in the last quarter. Howard Capital Management Inc. lifted its position in shares of Warner Bros. Discovery by 3.1% during the 3rd quarter. Howard Capital Management Inc. now owns 15,559 shares of the company's stock valued at $304,000 after acquiring an additional 474 shares during the period. Finally, Claro Advisors LLC lifted its position in shares of Warner Bros. Discovery by 4.4% during the 3rd quarter. Claro Advisors LLC now owns 11,591 shares of the company's stock valued at $226,000 after acquiring an additional 484 shares during the period. Institutional investors own 59.95% of the company's stock.

Insider Transactions at Warner Bros. Discovery

In other news, insider Gerhard Zeiler sold 600,000 shares of the business's stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $28.02, for a total value of $16,812,000.00. Following the sale, the insider owned 672,649 shares of the company's stock, valued at $18,847,624.98. The trade was a 47.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Paul A. Gould sold 600,000 shares of the firm's stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $27.35, for a total transaction of $16,410,000.00. Following the completion of the transaction, the director directly owned 244,357 shares of the company's stock, valued at approximately $6,683,163.95. This trade represents a 71.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 8,206,827 shares of company stock valued at $230,674,025. 1.90% of the stock is currently owned by insiders.

Warner Bros. Discovery Price Performance

WBD opened at $27.32 on Monday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.87. The stock has a market cap of $67.75 billion, a price-to-earnings ratio of 94.21 and a beta of 1.63. Warner Bros. Discovery, Inc. has a twelve month low of $7.52 and a twelve month high of $30.00. The company's 50-day moving average price is $27.80 and its two-hundred day moving average price is $25.34.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued its quarterly earnings results on Thursday, February 26th. The company reported ($0.10) EPS for the quarter, missing analysts' consensus estimates of $0.09 by ($0.19). Warner Bros. Discovery had a net margin of 1.95% and a return on equity of 1.98%. The firm had revenue of $9.46 billion for the quarter, compared to analysts' expectations of $9.33 billion. During the same period in the prior year, the company earned ($0.20) EPS. The firm's quarterly revenue was down 5.7% on a year-over-year basis. As a group, equities analysts expect that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Wall Street Analysts Forecast Growth

WBD has been the topic of several research reports. Benchmark reiterated a "hold" rating on shares of Warner Bros. Discovery in a report on Friday, February 27th. Weiss Ratings raised Warner Bros. Discovery from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, February 23rd. Rothschild & Co Redburn set a $31.00 price target on Warner Bros. Discovery and gave the stock a "neutral" rating in a report on Tuesday, February 17th. Morgan Stanley set a $29.00 price objective on Warner Bros. Discovery in a research note on Thursday, December 18th. Finally, Guggenheim lowered Warner Bros. Discovery from a "buy" rating to a "neutral" rating and upped their target price for the stock from $25.00 to $30.00 in a research report on Wednesday, January 14th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $26.30.

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.

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