Investors Asset Management of Georgia Inc. GA ADV Has $157,000 Stock Position in Warner Bros. Discovery, Inc. $WBD

Investors Asset Management of Georgia Inc. GA ADV lifted its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 9.7% in the second quarter, Holdings Channel.com reports. The institutional investor owned 13,704 shares of the company’s stock after buying an additional 1,213 shares during the period. Investors Asset Management of Georgia Inc. GA ADV’s holdings in Warner Bros. Discovery were worth $157,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. WPG Advisers LLC acquired a new position in Warner Bros. Discovery in the first quarter valued at about $26,000. Financial Gravity Asset Management Inc. bought a new position in shares of Warner Bros. Discovery during the 1st quarter valued at about $27,000. North Capital Inc. bought a new position in shares of Warner Bros. Discovery during the 1st quarter valued at about $28,000. Smallwood Wealth Investment Management LLC acquired a new position in shares of Warner Bros. Discovery in the 1st quarter valued at approximately $29,000. Finally, Golden State Wealth Management LLC increased its stake in Warner Bros. Discovery by 448.0% during the 1st 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 currently owned by institutional investors.

Insider Transactions at Warner Bros. Discovery

In other Warner Bros. Discovery news, insider Bruce Campbell sold 150,000 shares of the company’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $18.00, for a total transaction of $2,700,000.00. Following the sale, the insider directly owned 252,464 shares of the company’s stock, valued at approximately $4,544,352. This represents a 37.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Gunnar Wiedenfels sold 530,793 shares of Warner Bros. Discovery stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $19.50, for a total transaction of $10,350,463.50. Following the completion of the transaction, the chief financial officer directly owned 1,141,150 shares of the company’s stock, valued at approximately $22,252,425. This trade represents a 31.75% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 970,115 shares of company stock worth $17,818,490 in the last 90 days. Corporate insiders own 1.90% of the company’s stock.

Warner Bros. Discovery Trading Down 1.3%

Warner Bros. Discovery stock opened at $18.99 on Monday. The company has a market cap of $47.01 billion, a price-to-earnings ratio of 63.30, a P/E/G ratio of 2.35 and a beta of 1.73. The firm has a 50-day moving average of $14.45 and a 200-day moving average of $11.54. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.04 and a quick ratio of 1.04. Warner Bros. Discovery, Inc. has a one year low of $7.25 and a one year high of $20.24.

Warner Bros. Discovery (NASDAQ:WBD) last released 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 business 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 posted ($4.07) earnings per share. Warner Bros. Discovery’s revenue was up 1.0% on a year-over-year basis. On average, equities analysts expect that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Moffett Nathanson lifted their price target on shares of Warner Bros. Discovery from $14.00 to $23.00 and gave the company a “buy” rating in a research note on Monday, September 22nd. Sanford C. Bernstein raised their price objective on shares of Warner Bros. Discovery from $13.00 to $16.00 and gave the stock a “market perform” rating in a report on Monday, September 22nd. Huber Research raised shares of Warner Bros. Discovery from a “strong sell” rating to a “strong-buy” rating in a research note on Monday, June 9th. Raymond James Financial increased their target price on Warner Bros. Discovery from $13.00 to $22.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Barrington Research reissued an “outperform” rating and issued a $16.00 price target on shares of Warner Bros. Discovery in a research note on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $15.14.

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.