Catalyst Capital Advisors LLC Grows Position in Warner Bros. Discovery, Inc. $WBD

Catalyst Capital Advisors LLC increased its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 379.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,147 shares of the company’s stock after buying an additional 7,238 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in Warner Bros. Discovery were worth $105,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of WBD. Brighton Jones LLC lifted its position in Warner Bros. Discovery by 304.9% in the 4th quarter. Brighton Jones LLC now owns 68,950 shares of the company’s stock worth $729,000 after buying an additional 51,920 shares during the last quarter. GAMMA Investing LLC lifted its position in Warner Bros. Discovery by 16.1% in the 1st quarter. GAMMA Investing LLC now owns 45,942 shares of the company’s stock worth $493,000 after buying an additional 6,354 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Warner Bros. Discovery by 10.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 221,774 shares of the company’s stock worth $2,380,000 after buying an additional 21,147 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in Warner Bros. Discovery by 4.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 219,391 shares of the company’s stock worth $2,354,000 after buying an additional 9,075 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its position in Warner Bros. Discovery by 6.9% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 69,156 shares of the company’s stock worth $742,000 after buying an additional 4,447 shares during the last quarter. Institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Price Performance

WBD opened at $21.15 on Friday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.04 and a current ratio of 1.04. Warner Bros. Discovery, Inc. has a 52-week low of $7.49 and a 52-week high of $21.57. The stock has a market capitalization of $52.36 billion, a PE ratio of 70.50, a price-to-earnings-growth ratio of 2.57 and a beta of 1.73. The stock’s 50 day moving average price is $16.40 and its 200-day moving average price is $12.47.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.63 earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.79. Warner Bros. Discovery had a return on equity of 2.14% and a net margin of 2.00%.The company had revenue of $9.81 billion for the quarter, compared to analyst estimates of $9.73 billion. During the same period in the previous year, the company posted ($4.07) earnings per share. The firm’s revenue was up 1.0% on a year-over-year basis. On average, equities research analysts predict that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Insider Activity at Warner Bros. Discovery

In related news, insider Bruce Campbell sold 150,000 shares of Warner Bros. Discovery stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $18.00, for a total transaction of $2,700,000.00. Following the sale, the insider directly owned 252,464 shares in the company, valued at $4,544,352. The trade was a 37.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Gunnar Wiedenfels sold 530,793 shares of Warner Bros. Discovery stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $19.50, for a total value of $10,350,463.50. Following the sale, the chief financial officer owned 1,141,150 shares in the company, valued at $22,252,425. This represents a 31.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 970,115 shares of company stock worth $17,818,490 over the last ninety days. 1.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on WBD. Raymond James Financial boosted their target price on Warner Bros. Discovery from $13.00 to $22.00 and gave the stock an “outperform” rating in a research report on Thursday, October 2nd. Sanford C. Bernstein lifted their price target on Warner Bros. Discovery from $13.00 to $16.00 and gave the stock a “market perform” rating in a research note on Monday, September 22nd. UBS Group lifted their price target on Warner Bros. Discovery from $10.00 to $20.00 and gave the stock a “neutral” rating in a research note on Monday, October 6th. KeyCorp reaffirmed a “sector weight” rating on shares of Warner Bros. Discovery in a research note on Friday, September 26th. Finally, Benchmark lifted their price target on Warner Bros. Discovery from $18.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and sixteen have issued a Hold rating to the company. According to MarketBeat.com, Warner Bros. Discovery has an average rating of “Hold” and a consensus target price of $17.68.

Warner Bros. Discovery 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.