Summit Place Financial Advisors LLC Buys 5,200 Shares of Warner Bros. Discovery, Inc. $WBD

Summit Place Financial Advisors LLC raised its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 5.0% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 109,288 shares of the company’s stock after acquiring an additional 5,200 shares during the period. Summit Place Financial Advisors LLC’s holdings in Warner Bros. Discovery were worth $1,252,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. WPG Advisers LLC bought a new stake in Warner Bros. Discovery in the first quarter valued at approximately $26,000. Financial Gravity Asset Management Inc. bought a new stake in Warner Bros. Discovery in the first quarter valued at approximately $27,000. North Capital Inc. bought a new stake in Warner Bros. Discovery in the first quarter valued at approximately $28,000. Smallwood Wealth Investment Management LLC bought a new stake in Warner Bros. Discovery in the first quarter valued at approximately $29,000. Finally, Golden State Wealth Management LLC lifted its position in Warner Bros. Discovery by 448.0% in the first quarter. Golden State Wealth Management LLC now owns 2,877 shares of the company’s stock valued at $31,000 after purchasing an additional 2,352 shares during the last quarter. Institutional investors own 59.95% of the company’s stock.

Insiders Place Their Bets

In other news, Director Anton J. Levy acquired 250,000 shares of the firm’s stock in a transaction on Monday, August 11th. The stock was acquired at an average price of $10.90 per share, for a total transaction of $2,725,000.00. Following the completion of the acquisition, the director owned 874,000 shares in the company, valued at $9,526,600. This trade represents a 40.06% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Bruce Campbell sold 289,322 shares of the stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $16.48, for a total value of $4,768,026.56. Following the completion of the transaction, the insider owned 402,464 shares of the company’s stock, valued at approximately $6,632,606.72. This trade represents a 41.82% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 970,115 shares of company stock worth $17,818,490. 1.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on WBD. Guggenheim boosted their price objective on Warner Bros. Discovery from $14.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday. TD Cowen restated a “hold” rating and set a $14.00 target price on shares of Warner Bros. Discovery in a report on Tuesday, September 16th. Moffett Nathanson upped their target price on Warner Bros. Discovery from $14.00 to $23.00 and gave the company a “buy” rating in a report on Monday, September 22nd. Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a report on Friday, September 12th. Finally, Sanford C. Bernstein upped their target price on Warner Bros. Discovery from $13.00 to $16.00 and gave the company a “market perform” rating in a report on Monday, September 22nd. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and sixteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $16.61.

Warner Bros. Discovery Price Performance

WBD opened at $17.10 on Friday. The stock has a fifty day simple moving average of $14.93 and a two-hundred day simple moving average of $11.78. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.92. The company has a market cap of $42.34 billion, a price-to-earnings ratio of 57.00, a price-to-earnings-growth ratio of 2.07 and a beta of 1.73. Warner Bros. Discovery, Inc. has a 12-month low of $7.25 and a 12-month high of $20.24.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.79. The business had revenue of $9.81 billion during the quarter, compared to the consensus estimate of $9.73 billion. Warner Bros. Discovery had a return on equity of 2.14% and a net margin of 2.00%.The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($4.07) earnings per share. Research analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

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.