Catalyst Funds Management Pty Ltd Has $1.87 Million Stock Position in Warner Bros. Discovery, Inc. $WBD

Key Points

• Catalyst Funds Management cut its Warner Bros. Discovery stake by 59.5% in the fourth quarter, selling 95,500 shares and leaving it with 65,000 shares worth about $1.87 million.
• Warner Bros. Discovery reported a quarterly loss of $1.17 per share, far below expectations, while revenue of $8.89 billion matched estimates and fell 1% year over year.
• Analyst sentiment remains cautious: the stock has a Hold consensus rating with an average price target of $26.36, while insiders have also been selling shares in recent months.

Catalyst Funds Management Pty Ltd cut its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 59.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 65,000 shares of the company's stock after selling 95,500 shares during the period. Catalyst Funds Management Pty Ltd's holdings in Warner Bros. Discovery were worth $1,873,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of WBD. Concord Wealth Partners increased its holdings in shares of Warner Bros. Discovery by 49.9% during the third quarter. Concord Wealth Partners now owns 1,321 shares of the company's stock worth $26,000 after buying an additional 440 shares in the last quarter. Physician Wealth Advisors Inc. increased its holdings in shares of Warner Bros. Discovery by 152.1% during the third quarter. Physician Wealth Advisors Inc. now owns 1,404 shares of the company's stock worth $27,000 after buying an additional 847 shares in the last quarter. Rakuten Securities Inc. increased its holdings in shares of Warner Bros. Discovery by 81.5% during the fourth quarter. Rakuten Securities Inc. now owns 1,160 shares of the company's stock worth $33,000 after buying an additional 521 shares in the last quarter. JPL Wealth Management LLC acquired a new position in shares of Warner Bros. Discovery during the third quarter worth $33,000. Finally, TOWER TRUST & INVESTMENT Co increased its holdings in shares of Warner Bros. Discovery by 4,730.8% during the fourth quarter. TOWER TRUST & INVESTMENT Co now owns 1,256 shares of the company's stock worth $36,000 after buying an additional 1,230 shares in the last quarter. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Warner Bros. Discovery Stock Performance

NASDAQ WBD opened at $27.03 on Friday. The company has a market capitalization of $67.77 billion, a price-to-earnings ratio of -38.61 and a beta of 1.57. Warner Bros. Discovery, Inc. has a twelve month low of $8.84 and a twelve month high of $30.00. The stock has a fifty day simple moving average of $27.26 and a 200 day simple moving average of $27.10. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.92.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($1.17) earnings per share for the quarter, missing analysts' consensus estimates of ($0.10) by ($1.07). The company had revenue of $8.89 billion during the quarter, compared to analyst estimates of $8.89 billion. Warner Bros. Discovery had a negative net margin of 4.67% and a negative return on equity of 4.77%. The business's revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.18) earnings per share. Sell-side analysts expect that Warner Bros. Discovery, Inc. will post -0.71 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on WBD. UBS Group upped their price target on shares of Warner Bros. Discovery from $30.00 to $31.00 and gave the stock a "neutral" rating in a report on Thursday, May 7th. Benchmark reiterated a "hold" rating on shares of Warner Bros. Discovery in a report on Friday, February 27th. Raymond James Financial reiterated an "underperform" rating on shares of Warner Bros. Discovery in a report on Friday, February 27th. Arete Research reiterated a "neutral" rating and set a $31.25 price target on shares of Warner Bros. Discovery in a report on Friday, February 27th. Finally, Huber Research cut shares of Warner Bros. Discovery from a "strong-buy" rating to a "strong sell" rating in a research note on Friday, February 27th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, thirteen have given a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $26.36.

Insiders Place Their Bets

In related news, CFO Gunnar Wiedenfels sold 374,323 shares of the stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $28.05, for a total value of $10,499,760.15. Following the completion of the sale, the chief financial officer directly owned 663,380 shares in the company, valued at $18,607,809. This represents a 36.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Fazal F. Merchant sold 35,000 shares of the company's stock in a transaction on Monday, March 16th. The shares were sold at an average price of $27.48, for a total transaction of $961,800.00. Following the sale, the director directly owned 95,539 shares in the company, valued at $2,625,411.72. This trade represents a 26.81% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 8,206,827 shares of company stock valued at $230,674,025 over the last ninety days. 1.90% of the stock is currently owned by corporate insiders.

Warner Bros. Discovery Profile

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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