First National Bank of Omaha purchased a new position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD – Free Report) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 250,579 shares of the company’s stock, valued at approximately $7,252,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in WBD. Brighton Jones LLC lifted its holdings in shares of Warner Bros. Discovery by 304.9% during the 4th quarter. Brighton Jones LLC now owns 68,950 shares of the company’s stock worth $729,000 after acquiring an additional 51,920 shares during the period. NewEdge Advisors LLC boosted its stake in shares of Warner Bros. Discovery by 50.5% in the 1st quarter. NewEdge Advisors LLC now owns 63,254 shares of the company’s stock valued at $679,000 after purchasing an additional 21,228 shares in the last quarter. Empowered Funds LLC boosted its stake in shares of Warner Bros. Discovery by 6.2% in the 1st quarter. Empowered Funds LLC now owns 65,082 shares of the company’s stock valued at $698,000 after purchasing an additional 3,779 shares in the last quarter. Focus Partners Wealth boosted its stake in shares of Warner Bros. Discovery by 91.6% in the 1st quarter. Focus Partners Wealth now owns 116,821 shares of the company’s stock valued at $1,254,000 after purchasing an additional 55,837 shares in the last quarter. Finally, Baird Financial Group Inc. boosted its stake in shares of Warner Bros. Discovery by 3.8% in the 2nd quarter. Baird Financial Group Inc. now owns 111,450 shares of the company’s stock valued at $1,277,000 after purchasing an additional 4,062 shares in the last quarter. Institutional investors own 59.95% of the company’s stock.
Analysts Set New Price Targets
WBD has been the topic of a number of research analyst reports. Zacks Research upgraded shares of Warner Bros. Discovery from a “strong sell” rating to a “hold” rating in a research note on Monday, June 1st. Wells Fargo & Company initiated coverage on shares of Warner Bros. Discovery in a research note on Monday, March 9th. They issued an “equal weight” rating and a $31.00 price target on the stock. Weiss Ratings downgraded shares of Warner Bros. Discovery from a “hold (c-)” rating to a “sell (d-)” rating in a research note on Thursday, May 7th. Guggenheim restated a “neutral” rating on shares of Warner Bros. Discovery in a research note on Thursday, May 7th. Finally, Argus reduced their price target on shares of Warner Bros. Discovery from $32.00 to $31.00 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $27.04.
Insider Buying and Selling at Warner Bros. Discovery
In related news, Director Fazal F. Merchant sold 35,000 shares of the stock in a transaction on Monday, March 16th. The shares were sold at an average price of $27.48, for a total transaction of $961,800.00. Following the transaction, the director directly owned 95,539 shares of the company’s stock, valued at $2,625,411.72. This represents a 26.81% decrease in their ownership of the stock. The sale 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 stock in a transaction on Monday, March 16th. The stock was sold at an average price of $27.35, for a total transaction of $16,410,000.00. Following the transaction, the director directly owned 244,357 shares in the company, valued at approximately $6,683,163.95. This represents a 71.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.90% of the company’s stock.
Key Warner Bros. Discovery News
Here are the key news stories impacting Warner Bros. Discovery this week:
- Positive Sentiment: The DOJ reportedly cleared Paramount Skydance’s acquisition of Warner Bros. Discovery, removing a key antitrust obstacle and improving the chances the deal closes. Justice Department says Paramount’s Warner deal wouldn’t harm competition
- Positive Sentiment: Reports that the merger was approved helped fuel speculation that Warner Bros. Discovery shareholders could benefit from a takeover premium if the deal advances. Paramount-WBD merger wins approval from DOJ, source says
- Neutral Sentiment: Shareholders rejected David Zaslav’s proposed $165 million pay package for 2025 in a non-binding vote, which adds governance noise but is not likely to change the near-term merger story. Warner Bros. Shareholders Reject David Zaslav’s $165 Million Pay Package for 2025
Warner Bros. Discovery Stock Up 0.4%
Warner Bros. Discovery stock opened at $26.98 on Friday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.73 and a current ratio of 0.73. Warner Bros. Discovery, Inc. has a 52-week low of $9.98 and a 52-week high of $30.00. The firm has a 50 day moving average price of $27.12 and a two-hundred day moving average price of $27.53. The firm has a market cap of $67.64 billion, a price-to-earnings ratio of -38.54 and a beta of 1.54.
Warner Bros. Discovery (NASDAQ:WBD – Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($1.17) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $8.89 billion for the quarter, compared to the consensus estimate of $8.89 billion. During the same quarter in the previous year, the business posted ($0.18) EPS. The firm’s revenue for the quarter was down 1.0% compared to the same quarter last year. Equities analysts predict that Warner Bros. Discovery, Inc. will post -1.07 EPS for the current year.
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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