Bleakley Financial Group LLC Increases Stock Holdings in Warner Bros. Discovery, Inc. $WBD

Bleakley Financial Group LLC lifted its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 13.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,542 shares of the company’s stock after buying an additional 3,033 shares during the quarter. Bleakley Financial Group LLC’s holdings in Warner Bros. Discovery were worth $293,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. WPG Advisers LLC bought a new stake in shares of Warner Bros. Discovery in the 1st quarter worth approximately $26,000. Financial Gravity Asset Management Inc. purchased a new position in Warner Bros. Discovery during the 1st quarter valued at $27,000. North Capital Inc. purchased a new position in Warner Bros. Discovery during the 1st quarter valued at $28,000. Smallwood Wealth Investment Management LLC purchased a new position in Warner Bros. Discovery during the 1st quarter valued at $29,000. Finally, Golden State Wealth Management LLC boosted its holdings in shares of 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 valued at $31,000 after buying an additional 2,352 shares in the last quarter. 59.95% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO Gunnar Wiedenfels sold 530,793 shares of Warner Bros. Discovery stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $19.50, for a total value of $10,350,463.50. Following the completion of the sale, the chief financial officer directly owned 1,141,150 shares in the company, valued at $22,252,425. The trade was a 31.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Bruce Campbell sold 150,000 shares of Warner Bros. Discovery stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $18.00, for a total value of $2,700,000.00. Following the completion of the sale, the insider owned 252,464 shares of the company’s stock, valued at $4,544,352. The trade was a 37.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 970,115 shares of company stock valued at $17,818,490. 1.80% of the stock is currently owned by company insiders.

Warner Bros. Discovery Stock Down 0.5%

Shares of WBD opened at $21.15 on Monday. The company 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 business has a fifty day moving average of $16.40 and a 200 day moving average of $12.50. Warner Bros. Discovery, Inc. has a 52-week low of $7.49 and a 52-week high of $21.57. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.92.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on WBD. Moffett Nathanson upped their price target on shares of Warner Bros. Discovery from $14.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, September 22nd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Warner Bros. Discovery in a research report on Friday. Barclays set a $20.00 price target on shares of Warner Bros. Discovery in a research report on Wednesday, October 8th. Singular Research raised shares of Warner Bros. Discovery to a “moderate buy” rating in a report on Wednesday, October 22nd. Finally, Raymond James Financial increased their target price on shares of Warner Bros. Discovery from $13.00 to $22.00 and gave the stock an “outperform” rating in a report on Thursday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and sixteen have issued a Hold rating to the company. According to MarketBeat.com, Warner Bros. Discovery has a consensus rating of “Hold” and an average target price of $17.68.

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.