Catalyst Funds Management Pty Ltd Sells 95,500 Shares of Warner Bros. Discovery, Inc. $WBD

Catalyst Funds Management Pty Ltd lessened its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 59.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,000 shares of the company’s stock after selling 95,500 shares during the quarter. Catalyst Funds Management Pty Ltd’s holdings in Warner Bros. Discovery were worth $1,873,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Warner Bros. Discovery by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 283,180,433 shares of the company’s stock worth $8,161,260,000 after purchasing an additional 1,966,278 shares in the last quarter. Jericho Capital Asset Management L.P. increased its stake in Warner Bros. Discovery by 108.9% in the 3rd quarter. Jericho Capital Asset Management L.P. now owns 35,095,390 shares of the company’s stock valued at $685,413,000 after buying an additional 18,291,865 shares during the last quarter. Northern Trust Corp increased its stake in Warner Bros. Discovery by 3.9% in the 3rd quarter. Northern Trust Corp now owns 23,496,725 shares of the company’s stock valued at $458,891,000 after buying an additional 876,869 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Warner Bros. Discovery by 9.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 18,820,858 shares of the company’s stock valued at $367,417,000 after buying an additional 1,658,317 shares during the last quarter. Finally, Amundi increased its stake in Warner Bros. Discovery by 59.6% in the 3rd quarter. Amundi now owns 15,523,538 shares of the company’s stock valued at $296,189,000 after buying an additional 5,798,592 shares during the last quarter. Institutional investors own 59.95% of the company’s stock.

Insider Transactions at Warner Bros. Discovery

In other Warner Bros. Discovery news, CFO Gunnar Wiedenfels sold 617,580 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $28.25, for a total value of $17,446,635.00. Following the transaction, the chief financial officer owned 691,570 shares in the company, valued at approximately $19,536,852.50. The trade was a 47.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul A. Gould sold 600,000 shares of the business’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $27.35, for a total transaction of $16,410,000.00. Following the completion of the transaction, the director owned 244,357 shares in the company, valued at $6,683,163.95. The trade was a 71.06% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 8,206,827 shares of company stock valued at $230,674,025. Company insiders own 1.90% of the company’s stock.

Warner Bros. Discovery Price Performance

Shares of NASDAQ:WBD opened at $27.03 on Friday. The stock has a market cap of $67.77 billion, a PE ratio of -38.61 and a beta of 1.57. The company’s fifty day moving average is $27.26 and its 200 day moving average is $27.10. Warner Bros. Discovery, Inc. has a 52 week low of $8.84 and a 52 week high of $30.00. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.92.

Warner Bros. Discovery (NASDAQ:WBD) last issued its earnings results on Wednesday, May 6th. The company reported ($1.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($1.07). Warner Bros. Discovery had a negative return on equity of 4.77% and a negative net margin of 4.67%.The business had revenue of $8.89 billion during the quarter, compared to analysts’ expectations of $8.89 billion. During the same quarter in the previous year, the business earned ($0.18) EPS. Warner Bros. Discovery’s revenue for the quarter was down 1.0% compared to the same quarter last year. Research analysts anticipate that Warner Bros. Discovery, Inc. will post -0.71 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on WBD shares. Argus decreased their price target on shares of Warner Bros. Discovery from $32.00 to $31.00 and set a “buy” rating for the company in a research note on Tuesday, March 3rd. Rothschild & Co Redburn set a $31.00 price objective on shares of Warner Bros. Discovery and gave the stock a “neutral” rating in a report on Tuesday, February 17th. KeyCorp reissued an “overweight” rating on shares of Warner Bros. Discovery in a report on Friday, April 24th. TD Cowen raised their price target on shares of Warner Bros. Discovery from $22.00 to $26.00 and gave the company a “hold” rating in a report on Friday, February 27th. Finally, Raymond James Financial reaffirmed an “underperform” rating on shares of Warner Bros. Discovery in a report on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, thirteen have given a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $26.36.

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.