Country Club Bank Buys 176,994 Shares of Warner Bros. Discovery, Inc. $WBD

Country Club Bank raised its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 54.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 502,878 shares of the company’s stock after purchasing an additional 176,994 shares during the period. Country Club Bank’s holdings in Warner Bros. Discovery were worth $5,683,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Warner Bros. Discovery by 1.7% during the first quarter. Vanguard Group Inc. now owns 256,820,031 shares of the company’s stock valued at $2,755,679,000 after purchasing an additional 4,169,240 shares during the period. Invesco Ltd. grew its holdings in Warner Bros. Discovery by 2.1% during the first quarter. Invesco Ltd. now owns 43,341,297 shares of the company’s stock valued at $465,052,000 after purchasing an additional 873,869 shares during the period. Sessa Capital IM L.P. grew its holdings in Warner Bros. Discovery by 4.0% during the first quarter. Sessa Capital IM L.P. now owns 29,555,277 shares of the company’s stock valued at $317,128,000 after purchasing an additional 1,144,849 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Warner Bros. Discovery by 4.5% during the first quarter. The Manufacturers Life Insurance Company now owns 24,672,364 shares of the company’s stock valued at $264,734,000 after purchasing an additional 1,063,535 shares during the period. Finally, Northern Trust Corp grew its holdings in Warner Bros. Discovery by 1.9% during the first quarter. Northern Trust Corp now owns 23,427,661 shares of the company’s stock valued at $251,379,000 after purchasing an additional 430,787 shares during the period. Institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Price Performance

NASDAQ:WBD opened at $19.08 on Tuesday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.92. The company has a market capitalization of $47.24 billion, a P/E ratio of 63.60, a P/E/G ratio of 2.35 and a beta of 1.73. Warner Bros. Discovery, Inc. has a 12 month low of $7.25 and a 12 month high of $20.24. The business’s 50-day moving average is $14.56 and its 200 day moving average is $11.60.

Warner Bros. Discovery (NASDAQ:WBD) last posted its earnings results on Thursday, August 7th. The company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.79. The company had revenue of $9.81 billion for the quarter, compared to the consensus estimate of $9.73 billion. Warner Bros. Discovery had a return on equity of 2.14% and a net margin of 2.00%.The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the previous year, the business earned ($4.07) earnings per share. On average, equities research analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Warner Bros. Discovery news, CFO Gunnar Wiedenfels sold 530,793 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $19.50, for a total transaction of $10,350,463.50. Following the sale, the chief financial officer directly owned 1,141,150 shares of the company’s stock, valued at $22,252,425. The trade was a 31.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Bruce Campbell sold 150,000 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $18.00, for a total value of $2,700,000.00. Following the sale, the insider directly owned 252,464 shares in the company, valued at $4,544,352. The trade was a 37.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 970,115 shares of company stock worth $17,818,490. Corporate insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Guggenheim restated a “buy” rating on shares of Warner Bros. Discovery in a research report on Tuesday, June 10th. Wells Fargo & Company boosted their price objective on Warner Bros. Discovery from $13.00 to $14.00 and gave the company an “equal weight” rating in a research report on Thursday, September 11th. Weiss Ratings restated a “sell (d+)” rating on shares of Warner Bros. Discovery in a research report on Saturday, September 27th. UBS Group boosted their price objective on Warner Bros. Discovery from $10.00 to $20.00 and gave the company a “neutral” rating in a research report on Monday. Finally, Barrington Research restated an “outperform” rating and issued a $16.00 price objective on shares of Warner Bros. Discovery in a research report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $15.69.

About Warner Bros. Discovery

Warner Bros. Discovery, Inc operates as a media and entertainment company worldwide. It operates through three segments: Studios, Network, and DTC. The Studios segment produces and releases feature films for initial exhibition in theaters; produces and licenses television programs to its networks and third parties and direct-to-consumer services; distributes films and television programs to various third parties and internal television; and offers streaming services and distribution through the home entertainment market, themed experience licensing, and interactive gaming.