TSP Capital Management Group LLC Cuts Stake in Warner Bros. Discovery, Inc. $WBD

TSP Capital Management Group LLC decreased its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 29.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 332,048 shares of the company’s stock after selling 141,525 shares during the period. Warner Bros. Discovery makes up 1.7% of TSP Capital Management Group LLC’s portfolio, making the stock its 22nd biggest position. TSP Capital Management Group LLC’s holdings in Warner Bros. Discovery were worth $6,485,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Harbor Island Capital LLC raised its stake in shares of Warner Bros. Discovery by 0.3% during the third quarter. Harbor Island Capital LLC now owns 981,390 shares of the company’s stock valued at $19,167,000 after purchasing an additional 3,360 shares during the period. Fifth Third Wealth Advisors LLC increased its stake in Warner Bros. Discovery by 9.7% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 20,408 shares of the company’s stock worth $399,000 after buying an additional 1,798 shares during the period. Global Retirement Partners LLC lifted its holdings in Warner Bros. Discovery by 8.5% in the 3rd quarter. Global Retirement Partners LLC now owns 10,823 shares of the company’s stock worth $211,000 after buying an additional 849 shares in the last quarter. Signaturefd LLC boosted its position in Warner Bros. Discovery by 11.7% in the 3rd quarter. Signaturefd LLC now owns 25,483 shares of the company’s stock valued at $498,000 after buying an additional 2,665 shares during the last quarter. Finally, Silver Oak Securities Incorporated acquired a new stake in shares of Warner Bros. Discovery during the third quarter valued at about $255,000. 59.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WBD has been the subject of a number of analyst reports. TD Cowen increased their price target on Warner Bros. Discovery from $14.00 to $22.00 in a report on Friday, November 7th. Bank of America lifted their price target on shares of Warner Bros. Discovery from $16.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, September 30th. Guggenheim boosted their target price on shares of Warner Bros. Discovery from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Barclays set a $20.00 price target on shares of Warner Bros. Discovery in a research report on Wednesday, October 8th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a research report on Friday, September 12th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $23.22.

Warner Bros. Discovery Trading Down 1.1%

NASDAQ:WBD opened at $28.51 on Monday. The stock has a market cap of $70.65 billion, a price-to-earnings ratio of 150.06 and a beta of 1.56. The business has a fifty day moving average of $25.32 and a 200-day moving average of $18.23. Warner Bros. Discovery, Inc. has a 1 year low of $7.52 and a 1 year high of $30.00. 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 results 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 firm had revenue of $9.05 billion for the quarter, compared to analyst estimates of $9.17 billion. Warner Bros. Discovery had a net margin of 1.28% and a return on equity of 1.34%. The firm’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.05 earnings per share. Equities analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Insider Activity

In related news, CFO Gunnar Wiedenfels sold 242,994 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer directly owned 918,940 shares in the company, valued at $27,108,730. The trade was a 20.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Lori C. Locke sold 4,122 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $28.92, for a total transaction of $119,208.24. Following the sale, the chief accounting officer owned 100,962 shares of the company’s stock, valued at $2,919,821.04. The trade was a 3.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 489,326 shares of company stock worth $12,781,456. 1.80% of the stock is owned by company insiders.

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.