Triad Investment Management Invests $9.38 Million in Warner Bros. Discovery, Inc. $WBD

Triad Investment Management purchased a new stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 325,574 shares of the company’s stock, valued at approximately $9,383,000. Warner Bros. Discovery accounts for 9.5% of Triad Investment Management’s portfolio, making the stock its biggest holding.

Other hedge funds have also made changes to their positions in the company. Brighton Jones LLC raised its stake in Warner Bros. Discovery by 304.9% during the 4th quarter. Brighton Jones LLC now owns 68,950 shares of the company’s stock valued at $729,000 after purchasing an additional 51,920 shares during the period. NewEdge Advisors LLC boosted its position in shares of Warner Bros. Discovery by 50.5% in the first quarter. NewEdge Advisors LLC now owns 63,254 shares of the company’s stock worth $679,000 after buying an additional 21,228 shares during the period. Empowered Funds LLC grew its holdings in shares of Warner Bros. Discovery by 6.2% during the first quarter. Empowered Funds LLC now owns 65,082 shares of the company’s stock valued at $698,000 after buying an additional 3,779 shares in the last quarter. Focus Partners Wealth grew its holdings in shares of Warner Bros. Discovery by 91.6% during the first quarter. Focus Partners Wealth now owns 116,821 shares of the company’s stock valued at $1,254,000 after buying an additional 55,837 shares in the last quarter. Finally, Elevation Point Wealth Partners LLC acquired a new position in Warner Bros. Discovery during the second quarter valued at $44,000. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Performance

Shares of WBD stock opened at $27.49 on Thursday. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.06 and a quick ratio of 1.06. Warner Bros. Discovery, Inc. has a fifty-two week low of $7.52 and a fifty-two week high of $30.00. The stock’s 50-day moving average is $27.84 and its two-hundred day moving average is $25.18. The firm has a market cap of $68.17 billion, a P/E ratio of 94.80 and a beta of 1.63.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings results on Thursday, February 26th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.19). The firm had revenue of $9.46 billion for the quarter, compared to analyst estimates of $9.33 billion. Warner Bros. Discovery had a net margin of 1.95% and a return on equity of 1.98%. The firm’s quarterly revenue was down 5.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.20) earnings per share. Analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on WBD shares. Sanford C. Bernstein increased their price objective on Warner Bros. Discovery from $23.50 to $27.75 and gave the stock a “market perform” rating in a research note on Tuesday, February 24th. Wells Fargo & Company began coverage on Warner Bros. Discovery in a report on Monday, March 9th. They issued an “equal weight” rating and a $31.00 target price on the stock. UBS Group increased their price target on shares of Warner Bros. Discovery from $20.00 to $30.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 28th. Rothschild & Co Redburn set a $31.00 price target on shares of Warner Bros. Discovery and gave the stock a “neutral” rating in a report on Tuesday, February 17th. Finally, Weiss Ratings raised shares of Warner Bros. Discovery from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, February 23rd. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $26.30.

Insider Activity

In other Warner Bros. Discovery news, CFO Gunnar Wiedenfels sold 617,580 shares of Warner Bros. Discovery stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $28.25, for a total value of $17,446,635.00. Following the completion of the sale, the chief financial officer directly owned 691,570 shares in the company, valued at $19,536,852.50. The trade was a 47.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bruce Campbell sold 1,580,331 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $28.00, for a total transaction of $44,249,268.00. Following the completion of the sale, the insider directly owned 690,028 shares of the company’s stock, valued at $19,320,784. This represents a 69.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 8,206,827 shares of company stock valued at $230,674,025. 1.90% of the stock is currently owned by company insiders.

Warner Bros. Discovery Company 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.