HighPoint Advisor Group LLC Grows Stake in Warner Bros. Discovery, Inc. $WBD

HighPoint Advisor Group LLC raised its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 218.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 183,853 shares of the company’s stock after acquiring an additional 126,098 shares during the quarter. HighPoint Advisor Group LLC’s holdings in Warner Bros. Discovery were worth $5,299,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of WBD. Versor Investments LP purchased a new stake in shares of Warner Bros. Discovery during the 4th quarter valued at $9,590,000. Trek Financial LLC purchased a new stake in shares of Warner Bros. Discovery during the 4th quarter valued at $8,312,000. Valeo Financial Advisors LLC lifted its holdings in shares of Warner Bros. Discovery by 13.0% during the 4th quarter. Valeo Financial Advisors LLC now owns 13,235 shares of the company’s stock valued at $381,000 after purchasing an additional 1,522 shares during the last quarter. Sentry Investment Management LLC lifted its holdings in shares of Warner Bros. Discovery by 19.0% during the 4th quarter. Sentry Investment Management LLC now owns 6,465 shares of the company’s stock valued at $186,000 after purchasing an additional 1,031 shares during the last quarter. Finally, ABN AMRO Bank N.V. purchased a new stake in shares of Warner Bros. Discovery during the 4th quarter valued at $476,000. Institutional investors own 59.95% of the company’s stock.

Insiders Place Their Bets

In other Warner Bros. Discovery news, CFO Gunnar Wiedenfels sold 617,580 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer owned 691,570 shares in the company, valued at approximately $19,536,852.50. This represents a 47.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Paul A. Gould sold 600,000 shares of the company’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $27.35, for a total transaction of $16,410,000.00. Following the completion of the transaction, the director owned 244,357 shares of the company’s stock, valued at approximately $6,683,163.95. This trade represents a 71.06% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 8,206,827 shares of company stock valued at $230,674,025. Insiders own 1.80% of the company’s stock.

Warner Bros. Discovery Price Performance

NASDAQ:WBD opened at $27.24 on Tuesday. Warner Bros. Discovery, Inc. has a one year low of $8.82 and a one year high of $30.00. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.73 and a current ratio of 0.73. The firm has a market cap of $68.28 billion, a price-to-earnings ratio of -38.91 and a beta of 1.57. The firm’s fifty day moving average is $27.42 and its two-hundred day moving average is $26.77.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($1.17) EPS for the quarter, missing the consensus estimate 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 business had revenue of $8.89 billion during the quarter, compared to analysts’ expectations of $8.89 billion. During the same period in the previous year, the company posted ($0.18) earnings per share. Warner Bros. Discovery’s revenue for the quarter was down 1.0% compared to the same quarter last year. Research analysts expect that Warner Bros. Discovery, Inc. will post -0.15 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Raymond James Financial reissued an “underperform” rating on shares of Warner Bros. Discovery in a research report on Friday, February 27th. Argus cut their target price on Warner Bros. Discovery from $32.00 to $31.00 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd. TD Cowen upped their target price on Warner Bros. Discovery from $22.00 to $26.00 and gave the company a “hold” rating in a research report on Friday, February 27th. Sanford C. Bernstein upped their target price on Warner Bros. Discovery from $23.50 to $27.75 and gave the company a “market perform” rating in a research report on Tuesday, February 24th. Finally, Arete Research reissued a “neutral” rating and issued a $31.25 target price on shares of Warner Bros. Discovery in a research report on Friday, February 27th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, thirteen have issued a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, Warner Bros. Discovery currently has a consensus rating of “Hold” and an average price target of $26.36.

About Warner Bros. Discovery

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.