CSM Advisors LLC Takes $166,000 Position in Warner Bros. Discovery, Inc. $WBD

CSM Advisors LLC acquired a new stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 14,510 shares of the company’s stock, valued at approximately $166,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. WPG Advisers LLC purchased a new position in Warner Bros. Discovery in the first quarter valued at about $26,000. Trifecta Capital Advisors LLC acquired a new stake in shares of Warner Bros. Discovery in the 2nd quarter worth approximately $34,000. N.E.W. Advisory Services LLC purchased a new position in Warner Bros. Discovery in the 1st quarter valued at approximately $36,000. Zions Bancorporation National Association UT acquired a new position in Warner Bros. Discovery during the first quarter worth $42,000. Finally, ST Germain D J Co. Inc. boosted its position in Warner Bros. Discovery by 4,720.5% during the second quarter. ST Germain D J Co. Inc. now owns 4,001 shares of the company’s stock worth $46,000 after purchasing an additional 3,918 shares in the last quarter. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WBD has been the subject of a number of research analyst reports. Rothschild Redb upgraded Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 30th. Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a report on Friday, September 12th. UBS Group upped their price target on shares of Warner Bros. Discovery from $10.00 to $20.00 and gave the company a “neutral” rating in a report on Monday, October 6th. Singular Research upgraded shares of Warner Bros. Discovery to a “moderate buy” rating in a research report on Wednesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Warner Bros. Discovery from $19.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Three research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $21.78.

Insider Transactions at Warner Bros. Discovery

In related news, CFO Gunnar Wiedenfels sold 222,210 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $22.50, for a total value of $4,999,725.00. Following the sale, the chief financial officer directly owned 918,940 shares of the company’s stock, valued at approximately $20,676,150. This trade represents a 19.47% 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, insider Bruce Campbell sold 150,000 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $18.00, for a total transaction of $2,700,000.00. Following the completion of the sale, the insider owned 252,464 shares of the company’s stock, valued at approximately $4,544,352. The trade was a 37.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 1,192,325 shares of company stock worth $22,818,215. 1.90% of the stock is owned by corporate insiders.

Warner Bros. Discovery Stock Up 0.3%

WBD stock opened at $23.05 on Wednesday. The company has a 50 day moving average price of $18.90 and a two-hundred day moving average price of $13.70. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market capitalization of $57.07 billion, a P/E ratio of 76.84, a PEG ratio of 2.56 and a beta of 1.73. Warner Bros. Discovery, Inc. has a one year low of $7.52 and a one year high of $23.19.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.02). The business had revenue of $9.05 billion for the quarter, compared to analyst estimates of $9.17 billion. Warner Bros. Discovery had a return on equity of 2.14% and a net margin of 2.00%.Warner Bros. Discovery’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.05 EPS. As a group, sell-side analysts expect that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

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.