Ellevest Inc. Takes Position in Warner Bros. Discovery, Inc. $WBD

Ellevest Inc. acquired a new stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 20,107 shares of the company’s stock, valued at approximately $579,000.

A number of other institutional investors also recently modified their holdings of WBD. Brighton Jones LLC boosted its stake in Warner Bros. Discovery by 304.9% during the fourth quarter. Brighton Jones LLC now owns 68,950 shares of the company’s stock worth $729,000 after acquiring an additional 51,920 shares in the last quarter. NewEdge Advisors LLC boosted its stake in Warner Bros. Discovery by 50.5% during the first quarter. NewEdge Advisors LLC now owns 63,254 shares of the company’s stock worth $679,000 after acquiring an additional 21,228 shares in the last quarter. Empowered Funds LLC boosted its stake in Warner Bros. Discovery by 6.2% during the first quarter. Empowered Funds LLC now owns 65,082 shares of the company’s stock worth $698,000 after acquiring an additional 3,779 shares in the last quarter. Focus Partners Wealth boosted its stake in Warner Bros. Discovery by 91.6% during the first quarter. Focus Partners Wealth now owns 116,821 shares of the company’s stock worth $1,254,000 after acquiring an additional 55,837 shares in the last quarter. Finally, Baird Financial Group Inc. boosted its stake in Warner Bros. Discovery by 3.8% during the second quarter. Baird Financial Group Inc. now owns 111,450 shares of the company’s stock worth $1,277,000 after acquiring an additional 4,062 shares in the last quarter. 59.95% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on WBD. Argus cut their target price 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. KeyCorp reissued an “overweight” rating on shares of Warner Bros. Discovery in a research note on Friday, April 24th. Guggenheim restated a “neutral” rating on shares of Warner Bros. Discovery in a report on Thursday, May 7th. Benchmark restated a “hold” rating on shares of Warner Bros. Discovery in a report on Friday, February 27th. Finally, Arete Research restated a “neutral” rating and set a $31.25 price objective on shares of Warner Bros. Discovery in a report on Friday, February 27th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $27.04.

Warner Bros. Discovery Stock Performance

NASDAQ WBD opened at $27.25 on Tuesday. Warner Bros. Discovery, Inc. has a 52-week low of $9.11 and a 52-week high of $30.00. The company has a 50-day simple moving average of $27.22 and a 200 day simple moving average of $27.31. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.73 and a current ratio of 0.73. The company has a market capitalization of $68.32 billion, a PE ratio of -38.93 and a beta of 1.54.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($1.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $8.89 billion for the quarter, compared to analysts’ expectations of $8.89 billion. During the same quarter last year, the business posted ($0.18) EPS. The business’s quarterly revenue was down 1.0% on a year-over-year basis. On average, research analysts predict that Warner Bros. Discovery, Inc. will post -0.71 EPS for the current year.

Insider Buying and Selling at Warner Bros. Discovery

In related news, insider Bruce Campbell sold 41,784 shares of the firm’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $27.82, for a total transaction of $1,162,430.88. Following the completion of the sale, the insider owned 604,666 shares in the company, valued at approximately $16,821,808.12. This trade represents a 6.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Fazal F. Merchant sold 35,000 shares of the firm’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $27.48, for a total transaction of $961,800.00. Following the sale, the director owned 95,539 shares of the company’s stock, valued at $2,625,411.72. This trade represents a 26.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 3,286,556 shares of company stock valued at $91,638,563 in the last three months. 1.80% of the stock is owned by corporate insiders.

About Warner Bros. Discovery

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.