Polianta Ltd Buys Shares of 140,000 Warner Bros. Discovery, Inc. $WBD

Key Points

• Polianta Ltd has invested approximately $1.60 million in Warner Bros. Discovery by acquiring 140,000 shares, making it the firm's 19th largest holding.
• Warner Bros. Discovery reported a strong earnings performance, with $0.63 earnings per share, significantly beating the consensus estimate of ($0.16), and revenue increasing by 1.0% year-over-year.
• Recent transactions by insiders include Anton J. Levy purchasing 250,000 shares while CFO Gunnar Wiedenfels sold 530,793 shares, reflecting major shifts in ownership among company executives.

Polianta Ltd acquired a new position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 140,000 shares of the company's stock, valued at approximately $1,604,000. Warner Bros. Discovery makes up approximately 0.7% of Polianta Ltd's investment portfolio, making the stock its 19th biggest holding.

A number of other institutional investors have also added to or reduced their stakes in the stock. Flagship Harbor Advisors LLC raised its stake in Warner Bros. Discovery by 9.7% during the 1st quarter. Flagship Harbor Advisors LLC now owns 14,955 shares of the company's stock worth $160,000 after acquiring an additional 1,318 shares during the period. CX Institutional grew its holdings in Warner Bros. Discovery by 5.7% during the 1st quarter. CX Institutional now owns 27,324 shares of the company's stock valued at $293,000 after buying an additional 1,465 shares in the last quarter. Bartlett & CO. Wealth Management LLC grew its holdings in Warner Bros. Discovery by 9.0% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 18,825 shares of the company's stock valued at $202,000 after buying an additional 1,561 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in shares of Warner Bros. Discovery by 2.6% in the first quarter. Sequoia Financial Advisors LLC now owns 62,966 shares of the company's stock valued at $676,000 after purchasing an additional 1,588 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC grew its holdings in shares of Warner Bros. Discovery by 8.9% in the first quarter. Fifth Third Wealth Advisors LLC now owns 19,756 shares of the company's stock valued at $212,000 after purchasing an additional 1,618 shares in the last quarter. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Warner Bros. Discovery

In other news, insider Bruce Campbell sold 150,000 shares of the stock in a transaction on Friday, September 12th. The stock was sold at an average price of $18.00, for a total transaction of $2,700,000.00. Following the completion of the transaction, the insider directly owned 252,464 shares in the company, valued at approximately $4,544,352. This represents a 37.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Anton J. Levy bought 75,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The shares were purchased at an average cost of $11.00 per share, for a total transaction of $825,000.00. Following the purchase, the director owned 949,000 shares in the company, valued at $10,439,000. This represents a 8.58% increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 970,115 shares of company stock worth $17,818,490 in the last three months. 1.90% of the stock is owned by corporate insiders.

Warner Bros. Discovery Stock Performance

NASDAQ:WBD traded up $0.63 during trading hours on Friday, reaching $19.33. The company had a trading volume of 168,181,341 shares, compared to its average volume of 78,697,712. Warner Bros. Discovery, Inc. has a 1-year low of $7.25 and a 1-year high of $19.59. The firm has a market cap of $47.86 billion, a PE ratio of 64.44, a price-to-earnings-growth ratio of 2.58 and a beta of 1.59. The business's 50 day moving average price is $13.13 and its 200-day moving average price is $10.92. 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 (NASDAQ:WBD - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.63 EPS for the quarter, beating 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 firm had revenue of $9.81 billion during the quarter, compared to the consensus estimate of $9.73 billion. During the same period in the prior year, the company earned ($4.07) EPS. The firm's revenue was up 1.0% compared to the same quarter last year. Research analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on WBD. Morgan Stanley lifted their price objective on shares of Warner Bros. Discovery from $10.00 to $13.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 6th. Guggenheim restated a "buy" rating on shares of Warner Bros. Discovery in a report on Tuesday, June 10th. Barrington Research restated an "outperform" rating and issued a $16.00 price objective on shares of Warner Bros. Discovery in a report on Wednesday, July 30th. Barclays lifted their target price on Warner Bros. Discovery from $9.00 to $13.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 9th. Finally, KeyCorp cut their target price on Warner Bros. Discovery from $18.00 to $16.00 and set an "overweight" rating on the stock in a research note on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and thirteen have given a Hold rating to the company. Based on data from MarketBeat.com, Warner Bros. Discovery currently has an average rating of "Hold" and an average price target of $13.25.

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.