Mizuho Markets Americas LLC Makes New Investment in Warner Bros. Discovery, Inc. $WBD

Key Points

• Mizuho Markets Americas LLC opened a new position in Warner Bros. Discovery in the fourth quarter, buying 50,000 shares worth about $1.44 million.
• Several other institutional investors also added to or initiated stakes, and institutions now own 59.95% of WBD shares.
• Insiders have been selling aggressively: CFO Gunnar Wiedenfels and insider Gerhard Zeiler each sold large blocks of stock, and insiders have sold 8.2 million shares worth about $230.7 million over the past 90 days.

Mizuho Markets Americas LLC purchased a new position in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 50,000 shares of the company's stock, valued at approximately $1,441,000.

Several other institutional investors have also bought and sold shares of the company. Concord Wealth Partners increased its position in Warner Bros. Discovery by 49.9% in 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 during the last quarter. Physician Wealth Advisors Inc. lifted its position in shares of Warner Bros. Discovery by 152.1% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 1,404 shares of the company's stock valued at $27,000 after buying an additional 847 shares during the last quarter. Rakuten Securities Inc. grew its stake in shares of Warner Bros. Discovery by 81.5% during the 4th quarter. Rakuten Securities Inc. now owns 1,160 shares of the company's stock worth $33,000 after acquiring an additional 521 shares during the period. JPL Wealth Management LLC bought a new position in shares of Warner Bros. Discovery during the 3rd quarter worth $33,000. Finally, TOWER TRUST & INVESTMENT Co increased its holdings in Warner Bros. Discovery by 4,730.8% in the 4th quarter. TOWER TRUST & INVESTMENT Co now owns 1,256 shares of the company's stock worth $36,000 after acquiring an additional 1,230 shares during the last quarter. Hedge funds and other institutional investors own 59.95% of the company's stock.

Insider Transactions at Warner Bros. Discovery

In other news, CFO Gunnar Wiedenfels sold 617,580 shares of the firm's stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $28.25, for a total transaction of $17,446,635.00. Following the sale, the chief financial officer owned 691,570 shares in the company, valued at approximately $19,536,852.50. This trade represents a 47.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Gerhard Zeiler sold 600,000 shares of Warner Bros. Discovery stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $28.02, for a total transaction of $16,812,000.00. Following the sale, the insider directly owned 672,649 shares of the company's stock, valued at $18,847,624.98. This represents a 47.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 8,206,827 shares of company stock worth $230,674,025. Company insiders own 1.90% of the company's stock.

Warner Bros. Discovery Stock Performance

Shares of WBD opened at $27.03 on Friday. Warner Bros. Discovery, Inc. has a 12-month low of $8.84 and a 12-month high of $30.00. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.92. The company has a market cap of $67.77 billion, a PE ratio of -38.61 and a beta of 1.57. The stock has a 50-day moving average price of $27.26 and a 200-day moving average price of $27.10.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced its earnings results 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). Warner Bros. Discovery had a negative net margin of 4.67% and a negative return on equity of 4.77%. The company 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 business earned ($0.18) earnings per share. The company's revenue for the quarter was down 1.0% compared to the same quarter last year. As a group, equities analysts forecast that Warner Bros. Discovery, Inc. will post -0.71 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on WBD shares. Weiss Ratings cut Warner Bros. Discovery from a "hold (c-)" rating to a "sell (d-)" rating in a research note on Thursday, May 7th. Moffett Nathanson upgraded shares of Warner Bros. Discovery from a "hold" rating to a "strong-buy" rating in a research note on Sunday, March 8th. Wells Fargo & Company began coverage on shares of Warner Bros. Discovery in a research report on Monday, March 9th. They issued an "equal weight" rating and a $31.00 price target on the stock. Deutsche Bank Aktiengesellschaft cut shares of Warner Bros. Discovery from a "buy" rating to a "hold" rating and upped their price target for the company from $29.50 to $31.00 in a research note on Friday, February 27th. Finally, Zacks Research downgraded shares of Warner Bros. Discovery from a "hold" rating to a "strong sell" rating in a report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, thirteen have issued a Hold rating and four have given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $26.36.

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.

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.