Thompson Siegel & Walmsley LLC Sells 282,602 Shares of Warner Bros. Discovery, Inc. $WBD

Key Points

• Thompson Siegel & Walmsley LLC cut its Warner Bros. Discovery stake by 74.8% in the fourth quarter, selling 282,602 shares and leaving it with 95,202 shares worth about $2.74 million.
• Insider selling has also been significant: director Paul A. Gould sold 600,000 shares and insider Bruce Campbell sold 41,784 shares, bringing total insider sales to 676,784 shares over the last 90 days.
• Warner Bros. Discovery’s latest earnings missed expectations, with EPS of -$1.17 versus a forecast of -$0.10, while revenue was roughly in line at $8.89 billion; analysts currently rate the stock a Hold with a $27.04 price target.

Thompson Siegel & Walmsley LLC decreased its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 74.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,202 shares of the company's stock after selling 282,602 shares during the period. Thompson Siegel & Walmsley LLC's holdings in Warner Bros. Discovery were worth $2,744,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Concord Wealth Partners boosted its stake in Warner Bros. Discovery by 49.9% in the 3rd quarter. Concord Wealth Partners now owns 1,321 shares of the company's stock worth $26,000 after purchasing an additional 440 shares in the last quarter. Physician Wealth Advisors Inc. boosted its stake in Warner Bros. Discovery by 152.1% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 1,404 shares of the company's stock worth $27,000 after purchasing an additional 847 shares in the last quarter. Fideuram Asset Management Ireland dac bought a new position in Warner Bros. Discovery in the 4th quarter worth about $29,000. Rakuten Securities Inc. boosted its stake in Warner Bros. Discovery by 81.5% in the 4th quarter. Rakuten Securities Inc. now owns 1,160 shares of the company's stock worth $33,000 after purchasing an additional 521 shares in the last quarter. Finally, JPL Wealth Management LLC bought a new position in Warner Bros. Discovery in the 3rd quarter worth about $33,000. Institutional investors own 59.95% of the company's stock.

Insider Activity

In other news, Director Paul A. Gould sold 600,000 shares of the stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $27.35, for a total value of $16,410,000.00. Following the transaction, the director owned 244,357 shares in the company, valued at $6,683,163.95. This represents a 71.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Bruce Campbell sold 41,784 shares of the stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $27.82, for a total transaction of $1,162,430.88. Following the completion of the transaction, the insider owned 604,666 shares in the company, valued at $16,821,808.12. This trade represents a 6.46% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 676,784 shares of company stock valued at $18,534,231 in the last 90 days. 1.80% of the stock is currently owned by insiders.

Warner Bros. Discovery Stock Performance

Shares of NASDAQ WBD opened at $27.18 on Wednesday. The firm's 50-day moving average price is $27.22 and its 200-day moving average price is $27.31. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.92. The company has a market cap of $68.14 billion, a PE ratio of -38.83 and a beta of 1.54. Warner Bros. Discovery, Inc. has a 52-week low of $9.11 and a 52-week high of $30.00.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($1.17) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.10) by ($1.07). The company had revenue of $8.89 billion for the quarter, compared to analysts' expectations of $8.89 billion. Warner Bros. Discovery had a negative net margin of 4.67% and a negative return on equity of 4.77%. The business's revenue was down 1.0% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.18) EPS. As a group, analysts anticipate that Warner Bros. Discovery, Inc. will post -0.89 EPS for the current year.

Analyst Ratings Changes

WBD has been the topic of a number of analyst reports. Guggenheim reiterated a "neutral" rating on shares of Warner Bros. Discovery in a research note on Thursday, May 7th. Wells Fargo & Company initiated coverage on shares of Warner Bros. Discovery in a research note on Monday, March 9th. They issued an "equal weight" rating and a $31.00 price target on the stock. Weiss Ratings cut shares of Warner Bros. Discovery from a "hold (c-)" rating to a "sell (d-)" rating in a research note on Thursday, May 7th. Argus lowered their target price on shares of Warner Bros. Discovery from $32.00 to $31.00 and set a "buy" rating on the stock in a research note on Tuesday, March 3rd. Finally, Raymond James Financial reaffirmed an "underperform" rating on shares of Warner Bros. Discovery in a report on Friday, February 27th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Warner Bros. Discovery presently has a consensus rating of "Hold" and a consensus price target of $27.04.

Warner Bros. Discovery Profile

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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