Hussman Strategic Advisors Inc. Lowers Stock Holdings in Warner Bros. Discovery, Inc. $WBD

Hussman Strategic Advisors Inc. reduced its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 50.0% in the third quarter, Holdings Channel.com reports. The fund owned 105,000 shares of the company’s stock after selling 105,000 shares during the quarter. Hussman Strategic Advisors Inc.’s holdings in Warner Bros. Discovery were worth $2,051,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Warner Bros. Discovery by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 262,477,555 shares of the company’s stock worth $3,007,993,000 after purchasing an additional 5,657,524 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Warner Bros. Discovery by 0.9% during the 2nd quarter. Geode Capital Management LLC now owns 60,091,463 shares of the company’s stock valued at $685,798,000 after purchasing an additional 551,548 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Warner Bros. Discovery by 2.8% in the second quarter. Invesco Ltd. now owns 44,574,492 shares of the company’s stock worth $510,824,000 after purchasing an additional 1,233,195 shares during the period. Norges Bank purchased a new stake in shares of Warner Bros. Discovery in the second quarter worth $306,848,000. Finally, Pacer Advisors Inc. raised its position in shares of Warner Bros. Discovery by 4,639.8% in the third quarter. Pacer Advisors Inc. now owns 22,788,847 shares of the company’s stock worth $445,066,000 after buying an additional 22,308,046 shares in the last quarter. Institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Price Performance

WBD stock opened at $28.07 on Wednesday. The firm has a market cap of $69.56 billion, a P/E ratio of 147.74 and a beta of 1.56. The firm’s fifty day moving average is $27.41 and its 200 day moving average is $20.31. Warner Bros. Discovery, Inc. has a 52 week low of $7.52 and a 52 week 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 posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.06) earnings per share 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 business had revenue of $9.05 billion during the quarter, compared to the consensus estimate of $9.17 billion. During the same period in the prior year, the firm earned $0.05 earnings per share. The business’s revenue for the quarter was down 6.0% on a year-over-year basis. Research analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Insider Transactions at Warner Bros. Discovery

In related news, CFO Gunnar Wiedenfels sold 242,994 shares of the stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $29.50, for a total transaction of $7,168,323.00. Following the completion of the sale, the chief financial officer directly owned 918,940 shares in the company, valued at $27,108,730. This represents a 20.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, 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 value of $119,208.24. Following the transaction, the chief accounting officer owned 100,962 shares in the company, valued at approximately $2,919,821.04. The trade was a 3.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 489,326 shares of company stock valued at $12,781,456. 1.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. The Goldman Sachs Group boosted their target price 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. Raymond James Financial boosted their price objective on Warner Bros. Discovery from $22.00 to $25.00 and gave the stock an “outperform” rating in a report on Friday, November 7th. Barclays set a $20.00 price objective on shares of Warner Bros. Discovery in a research report on Wednesday, October 8th. Singular Research raised shares of Warner Bros. Discovery to a “moderate buy” rating in a research note on Wednesday, October 22nd. Finally, Morgan Stanley set a $29.00 price target on shares of Warner Bros. Discovery in a research note on Thursday, December 18th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat, Warner Bros. Discovery currently has an average rating of “Moderate Buy” and an average target price of $24.94.

Warner Bros. Discovery 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.