Charles Schwab Investment Management Inc. Acquires 1,333,005 Shares of Warner Bros. Discovery, Inc. $WBD

Key Points

• Charles Schwab Investment Management increased its stake in Warner Bros. Discovery by 7.4% in Q2, buying 1,333,005 shares to hold 19,463,234 shares (about 0.79% of the company) valued at $223,049,000.
• Quarterly results and valuation: WBD reported ($0.06) EPS (miss) and $9.05B revenue (down 6% YoY), has a $56.9B market cap and a PE of 76.54, and carries a MarketBeat consensus of "Moderate Buy" with an average target of $21.92.
• Insider selling: Insiders have sold 1,192,325 shares worth $22.8M in the past 90 days (including notable sales by Bruce Campbell and CFO Gunnar Wiedenfels), with corporate insiders now owning 1.90% of the stock.

Charles Schwab Investment Management Inc. grew its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 7.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 19,463,234 shares of the company's stock after purchasing an additional 1,333,005 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.79% of Warner Bros. Discovery worth $223,049,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. WPG Advisers LLC purchased a new position in Warner Bros. Discovery during the first quarter valued at $26,000. Financial Gravity Companies Inc. purchased a new position in Warner Bros. Discovery during the 2nd quarter valued at about $29,000. Trifecta Capital Advisors LLC bought a new stake in Warner Bros. Discovery during the second quarter worth about $34,000. N.E.W. Advisory Services LLC purchased a new stake in shares of Warner Bros. Discovery in the 1st quarter worth approximately $36,000. Finally, Zions Bancorporation National Association UT purchased a new stake in Warner Bros. Discovery during the 1st quarter valued at about $42,000. Hedge funds and other institutional investors own 59.95% of the company's stock.

Warner Bros. Discovery Trading Up 0.4%

Shares of NASDAQ WBD opened at $22.96 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 market cap of $56.89 billion, a PE ratio of 76.54, a price-to-earnings-growth ratio of 2.56 and a beta of 1.74. The business has a fifty day simple moving average of $20.56 and a two-hundred day simple moving average of $14.71. Warner Bros. Discovery, Inc. has a twelve month low of $7.52 and a twelve month high of $24.19.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.02). Warner Bros. Discovery had a net margin of 2.00% and a return on equity of 2.14%. The company had revenue of $9.05 billion during the quarter, compared to analysts' expectations of $9.17 billion. During the same quarter in the prior year, the business posted $0.05 earnings per share. The company's revenue was down 6.0% compared to the same quarter last year. Analysts expect that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

WBD has been the topic of a number of research analyst reports. Seaport Global Securities increased their price objective on shares of Warner Bros. Discovery from $15.00 to $24.00 and gave the company a "buy" rating in a research report on Friday, October 3rd. Weiss Ratings reiterated a "sell (d+)" rating on shares of Warner Bros. Discovery in a research report on Wednesday, November 19th. Sanford C. Bernstein boosted their target price on Warner Bros. Discovery from $16.00 to $23.50 in a research report on Friday, November 7th. The Goldman Sachs Group raised their price target on Warner Bros. Discovery from $13.00 to $14.75 and gave the stock a "buy" rating in a research report on Friday, November 7th. Finally, Barrington Research reiterated an "outperform" rating and set a $25.00 price objective on shares of Warner Bros. Discovery in a research report on Friday, November 14th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Warner Bros. Discovery currently has an average rating of "Moderate Buy" and an average target price of $21.92.

Insider Activity

In other news, insider Bruce Campbell sold 289,322 shares of Warner Bros. Discovery stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $16.48, for a total transaction of $4,768,026.56. Following the completion of the transaction, the insider directly owned 402,464 shares of the company's stock, valued at $6,632,606.72. The trade was a 41.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Gunnar Wiedenfels sold 530,793 shares of the stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $19.50, for a total value of $10,350,463.50. Following the transaction, the chief financial officer owned 1,141,150 shares in the company, valued at $22,252,425. This trade represents a 31.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,192,325 shares of company stock worth $22,818,215 over the last ninety days. 1.90% of the stock is currently owned by corporate 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.

Want to see what other hedge funds are holding WBD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.