Hillman Capital Management Inc. Cuts Stake in Warner Bros. Discovery, Inc. $WBD

Hillman Capital Management Inc. cut its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 44.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 330,727 shares of the company’s stock after selling 264,820 shares during the period. Warner Bros. Discovery accounts for approximately 3.8% of Hillman Capital Management Inc.’s investment portfolio, making the stock its 2nd biggest holding. Hillman Capital Management Inc.’s holdings in Warner Bros. Discovery were worth $6,459,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Concord Wealth Partners boosted its holdings in Warner Bros. Discovery by 49.9% in the third quarter. Concord Wealth Partners now owns 1,321 shares of the company’s stock worth $26,000 after acquiring an additional 440 shares in the last quarter. Physician Wealth Advisors Inc. increased its holdings in shares of Warner Bros. Discovery by 152.1% during the third quarter. Physician Wealth Advisors Inc. now owns 1,404 shares of the company’s stock valued at $27,000 after acquiring an additional 847 shares in the last quarter. Financial Gravity Companies Inc. acquired a new position in shares of Warner Bros. Discovery during the second quarter worth approximately $29,000. Grove Bank & Trust lifted its holdings in shares of Warner Bros. Discovery by 66.5% in the 3rd quarter. Grove Bank & Trust now owns 1,690 shares of the company’s stock worth $33,000 after purchasing an additional 675 shares in the last quarter. Finally, Crews Bank & Trust grew its position in Warner Bros. Discovery by 1,242.2% in the 3rd quarter. Crews Bank & Trust now owns 1,718 shares of the company’s stock valued at $34,000 after purchasing an additional 1,590 shares during the period. 59.95% of the stock is owned by institutional investors.

Warner Bros. Discovery Stock Down 1.1%

Shares of NASDAQ WBD opened at $27.14 on Monday. The stock has a market capitalization of $67.25 billion, a P/E ratio of 93.59 and a beta of 1.60. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.06 and a quick ratio of 1.06. Warner Bros. Discovery, Inc. has a one year low of $7.52 and a one year high of $30.00. The firm’s 50 day simple moving average is $28.15 and its two-hundred day simple moving average is $23.94.

Warner Bros. Discovery (NASDAQ:WBD) last issued its earnings results on Thursday, February 26th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.19). Warner Bros. Discovery had a return on equity of 1.98% and a net margin of 1.95%.The business had revenue of $9.46 billion during the quarter, compared to analysts’ expectations of $9.33 billion. During the same quarter in the previous year, the business earned ($0.20) EPS. Warner Bros. Discovery’s revenue for the quarter was down 5.7% compared to the same quarter last year. As a group, analysts expect that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Wall Street Analyst Weigh In

WBD has been the subject of a number of research reports. UBS Group increased their target price on shares of Warner Bros. Discovery from $20.00 to $30.00 and gave the company a “neutral” rating in a research report on Wednesday, January 28th. TD Cowen upped their price objective on Warner Bros. Discovery from $22.00 to $26.00 and gave the company a “hold” rating in a research note on Friday, February 27th. Arete Research restated a “neutral” rating and issued a $31.25 target price on shares of Warner Bros. Discovery in a research note on Friday, February 27th. Moffett Nathanson raised Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a report on Sunday, March 8th. Finally, Guggenheim downgraded Warner Bros. Discovery from a “buy” rating to a “neutral” rating and raised their target price for the stock from $25.00 to $30.00 in a research note on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $26.30.

Insider Activity at Warner Bros. Discovery

In other Warner Bros. Discovery news, insider Priya Aiyar sold 223,512 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $28.24, for a total value of $6,311,978.88. Following the completion of the sale, the insider owned 919,252 shares in the company, valued at approximately $25,959,676.48. This trade represents a 19.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Gunnar Wiedenfels sold 374,323 shares of Warner Bros. Discovery stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $28.05, for a total transaction of $10,499,760.15. Following the completion of the sale, the chief financial officer owned 663,380 shares in the company, valued at approximately $18,607,809. This trade represents a 36.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 7,571,827 shares of company stock valued at $213,302,225 in the last quarter. 1.80% of the stock is currently owned by company insiders.

Warner Bros. Discovery Company 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.