HighPoint Advisor Group LLC Purchases 126,098 Shares of Warner Bros. Discovery, Inc. $WBD

Key Points

• HighPoint Advisor Group increased its Warner Bros. Discovery stake by 218.3% in the fourth quarter, buying 126,098 additional shares and bringing its total holding to 183,853 shares worth about $5.3 million.
• Insider selling was significant, with Director Paul A. Gould and CFO Gunnar Wiedenfels both selling large blocks of shares; insiders sold 8.2 million shares worth about $230.7 million in the last quarter.
• Analyst sentiment remains mixed: the consensus rating is “Hold” with a $26.36 price target, while recent updates ranged from a Moffett Nathanson upgrade to “strong-buy” to a Huber Research downgrade to “strong sell.”

HighPoint Advisor Group LLC grew its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 218.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 183,853 shares of the company's stock after buying an additional 126,098 shares during the quarter. HighPoint Advisor Group LLC's holdings in Warner Bros. Discovery were worth $5,299,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of WBD. Vanguard Group Inc. lifted its holdings in shares of Warner Bros. Discovery by 7.1% during the 3rd quarter. Vanguard Group Inc. now owns 281,214,155 shares of the company's stock valued at $5,492,112,000 after buying an additional 18,736,600 shares during the period. Jericho Capital Asset Management L.P. grew its stake in shares of Warner Bros. Discovery by 108.9% during the 3rd quarter. Jericho Capital Asset Management L.P. now owns 35,095,390 shares of the company's stock valued at $685,413,000 after purchasing an additional 18,291,865 shares during the period. Duquesne Family Office LLC bought a new stake in shares of Warner Bros. Discovery during the 2nd quarter valued at about $74,916,000. Allianz Asset Management GmbH grew its stake in shares of Warner Bros. Discovery by 170.1% during the 3rd quarter. Allianz Asset Management GmbH now owns 9,326,978 shares of the company's stock valued at $182,156,000 after purchasing an additional 5,873,183 shares during the period. Finally, Amundi grew its stake in shares of Warner Bros. Discovery by 59.6% during the 3rd quarter. Amundi now owns 15,523,538 shares of the company's stock valued at $296,189,000 after purchasing an additional 5,798,592 shares during the period. 59.95% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Warner Bros. Discovery news, Director Paul A. Gould sold 600,000 shares of Warner Bros. Discovery stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $27.35, for a total value of $16,410,000.00. Following the sale, the director owned 244,357 shares of the company's stock, valued at $6,683,163.95. The trade was a 71.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Gunnar Wiedenfels sold 617,580 shares of Warner Bros. Discovery stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $28.25, for a total value of $17,446,635.00. Following the completion of the sale, the chief financial officer directly owned 691,570 shares in the company, valued at approximately $19,536,852.50. The trade was a 47.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 8,206,827 shares of company stock worth $230,674,025 in the last quarter. 1.80% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. TD Cowen boosted their price target on Warner Bros. Discovery from $22.00 to $26.00 and gave the company a "hold" rating in a research note on Friday, February 27th. Moffett Nathanson upgraded Warner Bros. Discovery from a "hold" rating to a "strong-buy" rating in a research report on Sunday, March 8th. Rothschild & Co Redburn set a $31.00 price target on Warner Bros. Discovery and gave the stock a "neutral" rating in a research report on Tuesday, February 17th. Argus reduced their price target on Warner Bros. Discovery from $32.00 to $31.00 and set a "buy" rating for the company in a research report on Tuesday, March 3rd. Finally, Huber Research downgraded Warner Bros. Discovery from a "strong-buy" rating to a "strong sell" rating in a research note on Friday, February 27th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, thirteen have given a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $26.36.

Warner Bros. Discovery Stock Up 0.5%

NASDAQ WBD opened at $27.24 on Tuesday. The stock's 50 day moving average is $27.42 and its 200 day moving average is $26.77. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.92. Warner Bros. Discovery, Inc. has a 12 month low of $8.82 and a 12 month high of $30.00. The stock has a market cap of $68.28 billion, a PE ratio of -38.91 and a beta of 1.57.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($1.17) EPS for the quarter, missing analysts' consensus estimates of ($0.10) by ($1.07). Warner Bros. Discovery had a negative return on equity of 4.77% and a negative net margin of 4.67%.The business had revenue of $8.89 billion during the quarter, compared to analysts' expectations of $8.89 billion. During the same period in the prior year, the firm posted ($0.18) earnings per share. The firm's revenue for the quarter was down 1.0% on a year-over-year basis. Research analysts predict that Warner Bros. Discovery, Inc. will post -0.15 EPS for the current fiscal year.

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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