Country Club Bank Purchases 176,994 Shares of Warner Bros. Discovery, Inc. $WBD

Key Points

• Country Club Bank increased its holdings in Warner Bros. Discovery, Inc. by 54.3% in Q2, acquiring an additional 176,994 shares, bringing its total ownership to 502,878 shares valued at approximately $5.68 million.
• Insider sales included Bruce Campbell selling 150,000 shares and CFO Gunnar Wiedenfels selling 530,793 shares, reflecting significant reductions in their ownership stakes in the company.
• Despite recent insider selling, analysts have set price targets for Warner Bros. Discovery shares ranging from $14.00 to $23.00, with a current consensus rating of "Hold" and a consensus price target of $15.69.

Country Club Bank lifted its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 54.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 502,878 shares of the company's stock after acquiring an additional 176,994 shares during the period. Country Club Bank's holdings in Warner Bros. Discovery were worth $5,683,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in WBD. Independent Franchise Partners LLP purchased a new stake in shares of Warner Bros. Discovery in the 1st quarter worth approximately $140,224,000. Nuveen LLC purchased a new stake in shares of Warner Bros. Discovery in the 1st quarter worth approximately $96,971,000. KBC Group NV grew its stake in shares of Warner Bros. Discovery by 682.8% in the 1st quarter. KBC Group NV now owns 7,145,308 shares of the company's stock worth $76,669,000 after buying an additional 6,232,561 shares during the last quarter. Apollo Management Holdings L.P. purchased a new stake in shares of Warner Bros. Discovery in the 1st quarter worth approximately $65,031,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of Warner Bros. Discovery by 63.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 12,839,389 shares of the company's stock worth $137,700,000 after buying an additional 4,994,894 shares during the last quarter. Hedge funds and other institutional investors own 59.95% of the company's stock.

Insider Buying and Selling

In related news, insider Bruce Campbell sold 150,000 shares of Warner Bros. Discovery stock in a transaction on Friday, September 12th. The stock was sold at an average price of $18.00, for a total value of $2,700,000.00. Following the completion of the sale, the insider owned 252,464 shares of the company's stock, valued at $4,544,352. The trade was a 37.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Gunnar Wiedenfels sold 530,793 shares of Warner Bros. Discovery stock in a transaction on Monday, September 15th. The stock was sold at an average price of $19.50, for a total value of $10,350,463.50. Following the completion of the sale, the chief financial officer directly owned 1,141,150 shares of the company's stock, valued at $22,252,425. The trade was a 31.75% decrease in their position. The disclosure for this sale can be found here. Insiders sold 970,115 shares of company stock valued at $17,818,490 over the last 90 days. Company insiders own 1.80% of the company's stock.

Warner Bros. Discovery Stock Performance

Shares of WBD opened at $19.08 on Tuesday. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.04 and a quick ratio of 1.04. Warner Bros. Discovery, Inc. has a one year low of $7.25 and a one year high of $20.24. The firm has a market capitalization of $47.24 billion, a P/E ratio of 63.60, a PEG ratio of 2.35 and a beta of 1.73. The business has a fifty day moving average of $14.56 and a 200 day moving average of $11.60.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.63 EPS for the quarter, topping the consensus estimate of ($0.16) by $0.79. Warner Bros. Discovery had a return on equity of 2.14% and a net margin of 2.00%.The company had revenue of $9.81 billion during the quarter, compared to analyst estimates of $9.73 billion. During the same quarter in the previous year, the company posted ($4.07) earnings per share. Warner Bros. Discovery's revenue was up 1.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. TD Cowen restated a "hold" rating and issued a $14.00 price target on shares of Warner Bros. Discovery in a research note on Tuesday, September 16th. Raymond James Financial increased their target price on Warner Bros. Discovery from $13.00 to $22.00 and gave the company an "outperform" rating in a research note on Thursday. Benchmark reiterated a "buy" rating and set a $18.00 target price on shares of Warner Bros. Discovery in a research note on Monday, July 14th. Moffett Nathanson increased their target price on Warner Bros. Discovery from $14.00 to $23.00 and gave the company a "buy" rating in a research note on Monday, September 22nd. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Warner Bros. Discovery in a research note on Friday, September 12th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $15.69.

Warner Bros. Discovery Company Profile

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.

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