Trek Financial LLC Invests $8.31 Million in Warner Bros. Discovery, Inc. $WBD

Key Points

• Trek Financial LLC disclosed a new stake in Warner Bros. Discovery, buying 288,408 shares worth about $8.31 million in the fourth quarter.
• Institutional ownership remains high, with hedge funds and other investors holding 59.95% of WBD; several large funds, including Vanguard, also increased their positions recently.
• Analyst sentiment is mixed but leans cautious: the stock has a Hold consensus rating and a consensus price target of $26.36, while the company also reported a quarterly earnings miss with EPS of -$1.17.

Trek Financial LLC purchased a new position in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 288,408 shares of the company's stock, valued at approximately $8,312,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of WBD. Vanguard Group Inc. lifted its position in Warner Bros. Discovery by 7.1% during the third quarter. Vanguard Group Inc. now owns 281,214,155 shares of the company's stock valued at $5,492,112,000 after acquiring an additional 18,736,600 shares during the last quarter. Jericho Capital Asset Management L.P. lifted its position in Warner Bros. Discovery by 108.9% during the third quarter. Jericho Capital Asset Management L.P. now owns 35,095,390 shares of the company's stock valued at $685,413,000 after acquiring an additional 18,291,865 shares during the last quarter. Duquesne Family Office LLC purchased a new stake in Warner Bros. Discovery during the second quarter valued at approximately $74,916,000. Allianz Asset Management GmbH lifted its position in Warner Bros. Discovery by 170.1% during the third quarter. Allianz Asset Management GmbH now owns 9,326,978 shares of the company's stock valued at $182,156,000 after acquiring an additional 5,873,183 shares during the last quarter. Finally, Amundi lifted its position in Warner Bros. Discovery by 59.6% during the third quarter. Amundi now owns 15,523,538 shares of the company's stock valued at $296,189,000 after acquiring an additional 5,798,592 shares during the last quarter. Hedge funds and other institutional investors own 59.95% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on WBD. KeyCorp reissued an "overweight" rating on shares of Warner Bros. Discovery in a research report on Friday, April 24th. Moffett Nathanson raised shares of Warner Bros. Discovery from a "hold" rating to a "strong-buy" rating in a research report on Sunday, March 8th. Guggenheim reissued a "neutral" rating on shares of Warner Bros. Discovery in a research report on Thursday, May 7th. Weiss Ratings cut shares of Warner Bros. Discovery from a "hold (c-)" rating to a "sell (d-)" rating in a research report on Thursday. Finally, Wells Fargo & Company began coverage on shares of Warner Bros. Discovery in a research report on Monday, March 9th. They set an "equal weight" rating and a $31.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, thirteen have assigned a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $26.36.

Insider Buying and Selling at Warner Bros. Discovery

In other Warner Bros. Discovery news, Director Paul A. Gould sold 600,000 shares of the company's stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $27.35, for a total transaction of $16,410,000.00. Following the transaction, the director owned 244,357 shares in the company, valued at approximately $6,683,163.95. This represents a 71.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Bruce Campbell sold 1,580,331 shares of the company's stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $28.00, for a total transaction of $44,249,268.00. Following the transaction, the insider owned 690,028 shares in the company, valued at $19,320,784. The trade was a 69.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 8,206,827 shares of company stock worth $230,674,025 in the last three months. 1.80% of the stock is owned by company insiders.

Warner Bros. Discovery Trading Up 0.5%

Shares of Warner Bros. Discovery stock opened at $27.24 on Tuesday. 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 firm has a market capitalization of $68.28 billion, a price-to-earnings ratio of -38.91 and a beta of 1.57. The firm's 50 day simple moving average is $27.42 and its two-hundred day simple moving average is $26.77.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued 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). 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 for the quarter, compared to analyst estimates of $8.89 billion. During the same quarter in the previous year, the company posted ($0.18) EPS. The company's revenue for the quarter was down 1.0% compared to the same quarter last year. Analysts predict that Warner Bros. Discovery, Inc. will post -0.15 EPS for the current year.

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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