Warner Bros. Discovery, Inc. $WBD Shares Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc grew its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 40.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,035,360 shares of the company’s stock after buying an additional 300,421 shares during the quarter. CIBC Asset Management Inc’s holdings in Warner Bros. Discovery were worth $29,839,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Concord Wealth Partners increased its stake in Warner Bros. Discovery by 49.9% in the 3rd quarter. Concord Wealth Partners now owns 1,321 shares of the company’s stock valued at $26,000 after purchasing an additional 440 shares in the last quarter. Physician Wealth Advisors Inc. increased its stake in Warner Bros. Discovery by 152.1% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 1,404 shares of the company’s stock valued at $27,000 after purchasing an additional 847 shares in the last quarter. Fideuram Asset Management Ireland dac purchased a new position in Warner Bros. Discovery in the 4th quarter valued at approximately $29,000. Rakuten Securities Inc. increased its stake in Warner Bros. Discovery by 81.5% in the 4th quarter. Rakuten Securities Inc. now owns 1,160 shares of the company’s stock valued at $33,000 after purchasing an additional 521 shares in the last quarter. Finally, JPL Wealth Management LLC purchased a new position in Warner Bros. Discovery in the 3rd quarter valued at approximately $33,000. 59.95% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Warner Bros. Discovery

In related news, Director Paul A. Gould sold 600,000 shares of Warner Bros. Discovery stock in a transaction on Monday, March 16th. The stock was sold at an average price of $27.35, for a total value of $16,410,000.00. Following the transaction, the director owned 244,357 shares in the company, valued at approximately $6,683,163.95. This trade represents a 71.06% 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, insider Bruce Campbell sold 41,784 shares of Warner Bros. Discovery stock in a transaction on Monday, March 9th. The shares were sold at an average price of $27.82, for a total value of $1,162,430.88. Following the completion of the transaction, the insider owned 604,666 shares in the company, valued at $16,821,808.12. The trade was a 6.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 676,784 shares of company stock worth $18,534,231. 1.90% of the stock is owned by insiders.

Analyst Ratings Changes

WBD has been the subject of several research analyst reports. TD Cowen raised their price objective on Warner Bros. Discovery from $22.00 to $26.00 and gave the company a “hold” rating in a research note on Friday, February 27th. KeyCorp reissued an “overweight” rating on shares of Warner Bros. Discovery in a research report on Friday, April 24th. Wells Fargo & Company initiated coverage on Warner Bros. Discovery in a research report on Monday, March 9th. They set an “equal weight” rating and a $31.00 price target for the company. Moffett Nathanson raised Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a research report on Sunday, March 8th. Finally, Raymond James Financial reissued an “underperform” rating on shares of Warner Bros. Discovery in a research report on Friday, February 27th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $27.04.

Warner Bros. Discovery Price Performance

Shares of NASDAQ:WBD opened at $27.00 on Thursday. Warner Bros. Discovery, Inc. has a 52 week low of $9.11 and a 52 week high of $30.00. The company has a market cap of $67.69 billion, a P/E ratio of -38.57 and a beta of 1.54. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.92. The business has a fifty day simple moving average of $27.20 and a 200-day simple moving average of $27.38.

Warner Bros. Discovery (NASDAQ:WBD) last issued its earnings results on Wednesday, May 6th. The company reported ($1.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($1.07). Warner Bros. Discovery had a negative net margin of 4.67% and a negative return on equity of 4.77%. The firm had revenue of $8.89 billion during the quarter, compared to analyst estimates of $8.89 billion. During the same quarter in the previous year, the business posted ($0.18) EPS. Warner Bros. Discovery’s revenue was down 1.0% compared to the same quarter last year. Equities research analysts forecast that Warner Bros. Discovery, Inc. will post -0.93 EPS for the current year.

More Warner Bros. Discovery News

Here are the key news stories impacting Warner Bros. Discovery this week:

• Positive Sentiment: Warner Bros. Discovery was upgraded by Zacks Research from “strong sell” to “hold”, signaling that bearish sentiment is easing and giving investors a less negative view of the stock. Tickerreport.com
• Positive Sentiment: Multiple reports said Paramount Skydance is actively seeking EU approval for its acquisition of Warner Bros. Discovery, keeping the deal narrative alive and supporting speculation that WBD could command a strategic premium. MSN
• Positive Sentiment: The European Commission is reportedly aiming to finish its merger review in July, which could move the deal process forward and reduce uncertainty around timing. MSN
• Neutral Sentiment: Commentary arguing that media stocks under $30 remain a contrarian value idea adds a supportive valuation narrative, but it is more of a market opinion than a company-specific catalyst. 247WallSt
• Neutral Sentiment: Reports of executives pushing back against merger critics mainly underscore that regulatory and public-relations controversy around the deal is still ongoing, without changing fundamentals by themselves. TheWrap
• Negative Sentiment: The merger still needs approval from regulators around the world, so any setback or delay could pressure the stock if investors begin to doubt the deal’s likelihood or timeline. Business Insider

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.