Warner Bros. Discovery, Inc. $WBD Position Lifted by Sanctuary Advisors LLC

Key Points

• Sanctuary Advisors LLC raised its stake in Warner Bros. Discovery by 244.7% in Q4 to 211,115 shares, valued at about $6.08 million.
• Corporate insiders have sold a total of 8,206,827 shares worth $230.7 million over the last 90 days, while insiders currently own 1.80% of the company.
• Analysts are mixed but the consensus is a Hold with a $26.30 target after WBD missed quarterly EPS (‑$0.10 vs. $0.09 expected) and reported revenue down 5.7% year‑over‑year.

Sanctuary Advisors LLC raised its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 244.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 211,115 shares of the company's stock after acquiring an additional 149,876 shares during the quarter. Sanctuary Advisors LLC's holdings in Warner Bros. Discovery were worth $6,084,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Rakuten Securities Inc. boosted its stake in Warner Bros. Discovery by 81.5% during the 4th quarter. Rakuten Securities Inc. now owns 1,160 shares of the company's stock valued at $33,000 after acquiring an additional 521 shares during the last quarter. TOWER TRUST & INVESTMENT Co boosted its stake in Warner Bros. Discovery by 4,730.8% during the 4th quarter. TOWER TRUST & INVESTMENT Co now owns 1,256 shares of the company's stock valued at $36,000 after acquiring an additional 1,230 shares during the last quarter. Concord Wealth Partners boosted its stake in Warner Bros. Discovery by 49.9% during the 3rd quarter. Concord Wealth Partners now owns 1,321 shares of the company's stock valued at $26,000 after acquiring an additional 440 shares during the last quarter. Physician Wealth Advisors Inc. boosted its stake in 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 acquiring an additional 847 shares during the last quarter. Finally, Richardson Financial Services Inc. boosted its stake in Warner Bros. Discovery by 226.1% during the 4th quarter. Richardson Financial Services Inc. now owns 1,647 shares of the company's stock valued at $47,000 after acquiring an additional 1,142 shares during the last quarter. 59.95% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

WBD has been the topic of a number of research analyst reports. Weiss Ratings upgraded shares of Warner Bros. Discovery from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, February 23rd. Deutsche Bank Aktiengesellschaft downgraded shares of Warner Bros. Discovery from a "buy" rating to a "hold" rating and increased their price objective for the company from $29.50 to $31.00 in a research note on Friday, February 27th. Sanford C. Bernstein raised their price target on shares of Warner Bros. Discovery from $23.50 to $27.75 and gave the stock a "market perform" rating in a research report on Tuesday, February 24th. Huber Research downgraded shares of Warner Bros. Discovery from a "strong-buy" rating to a "strong sell" rating in a research report on Friday, February 27th. Finally, Arete Research restated a "neutral" rating and issued a $31.25 price target on shares of Warner Bros. Discovery in a research report on Friday, February 27th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $26.30.

Insider Transactions at Warner Bros. Discovery

In related news, insider Bruce Campbell sold 41,784 shares of Warner Bros. Discovery stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $27.82, for a total value of $1,162,430.88. Following the sale, the insider directly owned 604,666 shares in the company, valued at $16,821,808.12. This trade represents a 6.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Fazal F. Merchant sold 35,000 shares of Warner Bros. Discovery stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $27.48, for a total transaction of $961,800.00. Following the completion of the sale, the director owned 95,539 shares in the company, valued at approximately $2,625,411.72. This represents a 26.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 8,206,827 shares of company stock worth $230,674,025 over the last 90 days. Corporate insiders own 1.80% of the company's stock.

Warner Bros. Discovery Trading Up 0.4%

Warner Bros. Discovery stock opened at $27.05 on Thursday. The firm's 50-day moving average is $27.62 and its 200-day moving average is $26.34. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.06 and a current ratio of 1.06. Warner Bros. Discovery, Inc. has a 1 year low of $8.06 and a 1 year high of $30.00. The company has a market cap of $67.08 billion, a P/E ratio of 93.28 and a beta of 1.63.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued its quarterly earnings data on Thursday, February 26th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.19). The firm had revenue of $9.46 billion during the quarter, compared to the consensus estimate of $9.33 billion. Warner Bros. Discovery had a net margin of 1.95% and a return on equity of 1.98%. The company's revenue for the quarter was down 5.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.20) earnings per share. On average, equities analysts expect that Warner Bros. Discovery, Inc. will post -0.1 earnings per share 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.

Want to see what other hedge funds are holding WBD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report).

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.