Warner Bros. Discovery, Inc. $WBD Shares Bought by Bleakley Financial Group LLC

Bleakley Financial Group LLC raised its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 13.5% in the second quarter, HoldingsChannel reports. The fund owned 25,542 shares of the company’s stock after purchasing an additional 3,033 shares during the period. Bleakley Financial Group LLC’s holdings in Warner Bros. Discovery were worth $293,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. WPG Advisers LLC acquired a new position in shares of Warner Bros. Discovery during the 1st quarter worth approximately $26,000. Financial Gravity Asset Management Inc. purchased a new stake in shares of Warner Bros. Discovery during the first quarter worth approximately $27,000. North Capital Inc. purchased a new stake in shares of Warner Bros. Discovery during the first quarter worth approximately $28,000. Smallwood Wealth Investment Management LLC purchased a new stake in shares of Warner Bros. Discovery during the first quarter worth approximately $29,000. Finally, Golden State Wealth Management LLC increased its position in shares of Warner Bros. Discovery by 448.0% during the first quarter. Golden State Wealth Management LLC now owns 2,877 shares of the company’s stock worth $31,000 after purchasing an additional 2,352 shares in the last quarter. 59.95% of the stock is owned by institutional investors and hedge funds.

Warner Bros. Discovery Stock Performance

NASDAQ WBD opened at $21.15 on Monday. The stock has a market cap of $52.36 billion, a PE ratio of 70.50, a P/E/G ratio of 2.57 and a beta of 1.73. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.92. Warner Bros. Discovery, Inc. has a twelve month low of $7.49 and a twelve month high of $21.57. The stock has a fifty day simple moving average of $16.40 and a 200-day simple moving average of $12.50.

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

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Sanford C. Bernstein boosted their price target on Warner Bros. Discovery from $13.00 to $16.00 and gave the stock a “market perform” rating in a research report on Monday, September 22nd. Seaport Global Securities upped their target price on Warner Bros. Discovery from $15.00 to $24.00 and gave the company a “buy” rating in a report on Friday, October 3rd. TD Cowen restated a “hold” rating and issued a $14.00 target price on shares of Warner Bros. Discovery in a report on Tuesday, September 16th. Bank of America upped their target price on Warner Bros. Discovery from $16.00 to $24.00 and gave the company a “buy” rating in a report on Tuesday, September 30th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Warner Bros. Discovery from $19.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and sixteen have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $17.68.

Insider Buying and Selling

In related news, CFO Gunnar Wiedenfels sold 530,793 shares of the stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $19.50, for a total transaction of $10,350,463.50. Following the transaction, the chief financial officer owned 1,141,150 shares of the company’s stock, valued at approximately $22,252,425. This represents a 31.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Anton J. Levy purchased 250,000 shares of Warner Bros. Discovery stock in a transaction on Monday, August 11th. The stock was bought at an average cost of $10.90 per share, for a total transaction of $2,725,000.00. Following the transaction, the director directly owned 874,000 shares in the company, valued at $9,526,600. This represents a 40.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 970,115 shares of company stock valued at $17,818,490. Corporate insiders own 1.80% of the company’s stock.

About Warner Bros. Discovery

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.