Phoenix Financial Ltd. Sells 21,047 Shares of Warner Bros. Discovery, Inc. $WBD

Phoenix Financial Ltd. lowered its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 54.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,323 shares of the company’s stock after selling 21,047 shares during the period. Phoenix Financial Ltd.’s holdings in Warner Bros. Discovery were worth $338,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in WBD. Belpointe Asset Management LLC acquired a new position in shares of Warner Bros. Discovery during the 3rd quarter worth about $214,000. Alta Advisers Ltd acquired a new position in Warner Bros. Discovery during the third quarter valued at approximately $210,000. Compass Wealth Management LLC bought a new position in Warner Bros. Discovery in the third quarter valued at approximately $1,857,000. Vanguard Personalized Indexing Management LLC grew its stake in Warner Bros. Discovery by 10.8% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 237,807 shares of the company’s stock valued at $4,646,000 after purchasing an additional 23,233 shares in the last quarter. Finally, Mutual of America Capital Management LLC increased its position in shares of Warner Bros. Discovery by 3.9% during the 3rd quarter. Mutual of America Capital Management LLC now owns 268,318 shares of the company’s stock worth $5,239,000 after purchasing an additional 10,167 shares during the last quarter. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Warner Bros. Discovery

In related news, CAO Lori C. Locke sold 4,122 shares of the business’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $28.92, for a total value of $119,208.24. Following the completion of the sale, the chief accounting officer directly owned 100,962 shares in the company, valued at $2,919,821.04. The trade was a 3.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Gunnar Wiedenfels sold 242,994 shares of the company’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $29.50, for a total value of $7,168,323.00. Following the completion of the transaction, the chief financial officer directly owned 918,940 shares in the company, valued at approximately $27,108,730. This represents a 20.91% 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 have sold 489,326 shares of company stock valued at $12,781,456. 1.80% of the stock is currently owned by insiders.

Warner Bros. Discovery Stock Performance

Shares of WBD stock opened at $27.98 on Thursday. Warner Bros. Discovery, Inc. has a 52 week low of $7.52 and a 52 week high of $30.00. The company has a market capitalization of $69.33 billion, a price-to-earnings ratio of 147.27 and a beta of 1.56. The company has a 50-day simple moving average of $27.51 and a 200 day simple moving average of $20.36. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.07 and a current ratio of 1.07.

Warner Bros. Discovery (NASDAQ:WBD) last issued 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). Warner Bros. Discovery had a return on equity of 1.34% and a net margin of 1.28%.The company had revenue of $9.05 billion for the quarter, compared to analyst estimates of $9.17 billion. During the same quarter last year, the business earned $0.05 earnings per share. The company’s revenue was down 6.0% on a year-over-year basis. On average, sell-side analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on WBD. UBS Group increased their price objective on Warner Bros. Discovery from $20.00 to $30.00 and gave the company a “neutral” rating in a report on Wednesday. TD Cowen increased their price target on shares of Warner Bros. Discovery from $14.00 to $22.00 in a research note on Friday, November 7th. Morgan Stanley set a $29.00 price objective on shares of Warner Bros. Discovery in a research note on Thursday, December 18th. Barclays set a $20.00 target price on shares of Warner Bros. Discovery in a research note on Wednesday, October 8th. Finally, The Goldman Sachs Group boosted their price target on Warner Bros. Discovery from $13.00 to $14.75 and gave the stock a “buy” rating in a research report on Friday, November 7th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.85.

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.