Country Club Bank Cuts Holdings in Warner Bros. Discovery, Inc. $WBD

Country Club Bank decreased its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 31.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 343,261 shares of the company’s stock after selling 159,617 shares during the period. Country Club Bank’s holdings in Warner Bros. Discovery were worth $6,476,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. WPG Advisers LLC purchased a new stake in shares of Warner Bros. Discovery during the first quarter valued at $26,000. Financial Gravity Companies Inc. bought a new position in Warner Bros. Discovery during the 2nd quarter valued at about $29,000. Grove Bank & Trust boosted its holdings in shares of Warner Bros. Discovery by 66.5% during the 3rd quarter. Grove Bank & Trust now owns 1,690 shares of the company’s stock valued at $33,000 after acquiring an additional 675 shares during the last quarter. Trifecta Capital Advisors LLC bought a new stake in shares of Warner Bros. Discovery in the second quarter worth approximately $34,000. Finally, Elevation Point Wealth Partners LLC purchased a new position in shares of Warner Bros. Discovery during the second quarter valued at approximately $44,000. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on WBD. UBS Group raised their target price on shares of Warner Bros. Discovery from $10.00 to $20.00 and gave the stock a “neutral” rating in a report on Monday, October 6th. Benchmark raised their price target on Warner Bros. Discovery from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday, December 8th. Argus set a $28.00 price objective on Warner Bros. Discovery in a report on Monday, December 8th. Arete Research increased their target price on Warner Bros. Discovery from $30.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Finally, Singular Research raised Warner Bros. Discovery to a “moderate buy” rating in a research report on Wednesday, October 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $22.58.

Warner Bros. Discovery Price Performance

Shares of Warner Bros. Discovery stock opened at $28.21 on Thursday. The stock has a market cap of $69.90 billion, a P/E ratio of 148.48 and a beta of 1.60. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.07 and a current ratio of 1.07. The stock’s fifty day moving average is $22.97 and its 200 day moving average is $16.61. Warner Bros. Discovery, Inc. has a one year low of $7.52 and a one year high of $30.00.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $9.17 billion. During the same quarter in the previous year, the company earned $0.05 EPS. The business’s quarterly revenue was down 6.0% compared to the same quarter last year. Sell-side analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Insider Activity at Warner Bros. Discovery

In other news, CAO Lori C. Locke sold 4,122 shares of the stock in a transaction on Wednesday, December 10th. The shares were 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 of the company’s stock, valued at $2,919,821.04. This represents a 3.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Gunnar Wiedenfels sold 242,994 shares of the firm’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $29.50, for a total transaction of $7,168,323.00. Following the sale, the chief financial officer owned 918,940 shares in the company, valued at $27,108,730. The trade was a 20.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 489,326 shares of company stock valued at $12,781,456 over the last three months. 1.90% of the stock is currently owned by insiders.

Warner Bros. Discovery Company Profile

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.