NewEdge Wealth LLC acquired a new stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD – Free Report) during the 4th quarter, HoldingsChannel reports. The firm acquired 25,003 shares of the company’s stock, valued at approximately $721,000.
Several other large investors have also recently added to or reduced their stakes in WBD. Concord Wealth Partners increased its stake in Warner Bros. Discovery by 49.9% in the 3rd quarter. Concord Wealth Partners now owns 1,321 shares of the company’s stock valued at $26,000 after buying an additional 440 shares during the period. Physician Wealth Advisors Inc. increased its stake in Warner Bros. Discovery by 152.1% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 1,404 shares of the company’s stock valued at $27,000 after buying an additional 847 shares during the period. Rakuten Securities Inc. increased its stake in Warner Bros. Discovery by 81.5% in the 4th quarter. Rakuten Securities Inc. now owns 1,160 shares of the company’s stock valued at $33,000 after buying an additional 521 shares during the period. JPL Wealth Management LLC acquired a new position in Warner Bros. Discovery in the 3rd quarter valued at approximately $33,000. Finally, TOWER TRUST & INVESTMENT Co increased its stake in Warner Bros. Discovery by 4,730.8% in the 4th quarter. TOWER TRUST & INVESTMENT Co now owns 1,256 shares of the company’s stock valued at $36,000 after buying an additional 1,230 shares during the period. Institutional investors and hedge funds own 59.95% of the company’s stock.
Warner Bros. Discovery Stock Performance
WBD stock opened at $26.98 on Friday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.92. The firm has a 50 day moving average of $27.33 and a two-hundred day moving average of $26.90. The company has a market capitalization of $67.64 billion, a price-to-earnings ratio of -38.54 and a beta of 1.57. Warner Bros. Discovery, Inc. has a 12 month low of $8.82 and a 12 month high of $30.00.
Wall Street Analysts Forecast Growth
Several analysts have commented on WBD shares. Benchmark reissued a “hold” rating on shares of Warner Bros. Discovery in a research report on Friday, February 27th. Weiss Ratings downgraded shares of Warner Bros. Discovery from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft downgraded shares of Warner Bros. Discovery from a “buy” rating to a “hold” rating and boosted their target price for the stock from $29.50 to $31.00 in a research report on Friday, February 27th. Sanford C. Bernstein boosted their target price on shares of Warner Bros. Discovery from $23.50 to $27.75 and gave the stock a “market perform” rating in a research report on Tuesday, February 24th. Finally, KeyCorp reissued an “overweight” rating on shares of Warner Bros. Discovery in a research report on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, thirteen have assigned a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $26.36.
Read Our Latest Analysis on Warner Bros. Discovery
Insider Buying and Selling at Warner Bros. Discovery
In related news, Director Paul A. Gould sold 600,000 shares of the company’s stock in a transaction on 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 sale, the director directly owned 244,357 shares of the company’s stock, valued at approximately $6,683,163.95. This represents a 71.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Gunnar Wiedenfels sold 374,323 shares of the company’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $28.05, for a total transaction of $10,499,760.15. Following the sale, the chief financial officer directly owned 663,380 shares of the company’s stock, valued at approximately $18,607,809. This represents a 36.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 8,206,827 shares of company stock worth $230,674,025 in the last quarter. 1.90% of the stock is owned by corporate 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.
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