Warner Bros. Discovery, Inc. $WBD Shares Sold by TSP Capital Management Group LLC

TSP Capital Management Group LLC reduced its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 29.9% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 332,048 shares of the company’s stock after selling 141,525 shares during the quarter. Warner Bros. Discovery comprises about 1.7% of TSP Capital Management Group LLC’s holdings, making the stock its 22nd largest position. TSP Capital Management Group LLC’s holdings in Warner Bros. Discovery were worth $6,485,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Grove Bank & Trust lifted its position in Warner Bros. Discovery by 66.5% in the third quarter. Grove Bank & Trust now owns 1,690 shares of the company’s stock valued at $33,000 after purchasing an additional 675 shares during the period. Cranbrook Wealth Management LLC raised its stake in shares of Warner Bros. Discovery by 73.8% during the 3rd quarter. Cranbrook Wealth Management LLC now owns 1,929 shares of the company’s stock worth $38,000 after buying an additional 819 shares in the last quarter. Salomon & Ludwin LLC lifted its holdings in shares of Warner Bros. Discovery by 69.7% in the 3rd quarter. Salomon & Ludwin LLC now owns 2,075 shares of the company’s stock valued at $39,000 after buying an additional 852 shares during the period. Financial Gravity Companies Inc. purchased a new stake in shares of Warner Bros. Discovery in the second quarter valued at approximately $29,000. Finally, HM Payson & Co. grew its holdings in Warner Bros. Discovery by 1,136.6% during the third quarter. HM Payson & Co. now owns 2,671 shares of the company’s stock worth $52,000 after acquiring an additional 2,455 shares during the period. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Insider Buying and Selling at Warner Bros. Discovery

In related news, CAO Lori C. Locke sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $27.62, for a total value of $138,100.00. Following the sale, the chief accounting officer directly owned 110,084 shares of the company’s stock, valued at approximately $3,040,520.08. This trade represents a 4.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Gunnar Wiedenfels sold 242,994 shares of Warner Bros. Discovery stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $29.50, for a total transaction of $7,168,323.00. Following the completion of the transaction, the chief financial officer owned 918,940 shares in the company, valued at approximately $27,108,730. This trade represents a 20.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 489,326 shares of company stock valued at $12,781,456 over the last quarter. Insiders own 1.80% of the company’s stock.

Warner Bros. Discovery Stock Performance

NASDAQ:WBD opened at $28.51 on Monday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a market cap of $70.65 billion, a PE ratio of 150.06 and a beta of 1.56. The firm has a 50 day simple moving average of $25.32 and a 200-day simple moving average of $18.23. Warner Bros. Discovery, Inc. has a 1-year low of $7.52 and a 1-year high of $30.00.

Warner Bros. Discovery (NASDAQ:WBD) last released its earnings results on Thursday, November 6th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.02). Warner Bros. Discovery had a return on equity of 1.34% and a net margin of 1.28%.The firm had revenue of $9.05 billion during the quarter, compared to analysts’ expectations of $9.17 billion. During the same period in the previous year, the firm posted $0.05 earnings per share. The firm’s revenue was down 6.0% on a year-over-year basis. On average, equities analysts expect that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a research report on Friday, September 12th. Rothschild Redb upgraded Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 30th. Argus set a $28.00 price target on Warner Bros. Discovery in a research report on Monday, December 8th. Moffett Nathanson lifted their price target on Warner Bros. Discovery from $23.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. Finally, Cowen cut shares of Warner Bros. Discovery from a “buy” rating to a “hold” rating in a research note on Tuesday, September 16th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $23.22.

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.