ProShare Advisors LLC Increases Position in Warner Bros. Discovery, Inc. $WBD

ProShare Advisors LLC lifted its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 39.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,353,089 shares of the company’s stock after purchasing an additional 1,221,131 shares during the period. ProShare Advisors LLC owned about 0.18% of Warner Bros. Discovery worth $125,456,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of WBD. Concord Wealth Partners increased its stake in shares of Warner Bros. Discovery by 49.9% in the third quarter. Concord Wealth Partners now owns 1,321 shares of the company’s stock worth $26,000 after purchasing an additional 440 shares in the last quarter. Physician Wealth Advisors Inc. increased its stake in shares of Warner Bros. Discovery by 152.1% in the third quarter. Physician Wealth Advisors Inc. now owns 1,404 shares of the company’s stock worth $27,000 after purchasing an additional 847 shares in the last quarter. Rakuten Securities Inc. increased its stake in shares of Warner Bros. Discovery by 81.5% in the fourth quarter. Rakuten Securities Inc. now owns 1,160 shares of the company’s stock worth $33,000 after purchasing an additional 521 shares in the last quarter. JPL Wealth Management LLC purchased a new stake in shares of Warner Bros. Discovery in the third quarter worth $33,000. Finally, TOWER TRUST & INVESTMENT Co grew its position in shares of Warner Bros. Discovery by 4,730.8% during the fourth quarter. TOWER TRUST & INVESTMENT Co now owns 1,256 shares of the company’s stock worth $36,000 after purchasing an additional 1,230 shares in the last quarter. 59.95% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Warner Bros. Discovery

In other Warner Bros. Discovery news, CFO Gunnar Wiedenfels sold 617,580 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $28.25, for a total transaction of $17,446,635.00. Following the completion of the transaction, the chief financial officer owned 691,570 shares in the company, valued at $19,536,852.50. This trade represents a 47.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Gerhard Zeiler sold 600,000 shares of Warner Bros. Discovery stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $28.02, for a total transaction of $16,812,000.00. Following the completion of the transaction, the insider directly owned 672,649 shares of the company’s stock, valued at $18,847,624.98. The trade was a 47.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 8,206,827 shares of company stock worth $230,674,025 over the last three months. 1.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft cut Warner Bros. Discovery from a “buy” rating to a “hold” rating and increased their target price for the stock from $29.50 to $31.00 in a research report on Friday, February 27th. Weiss Ratings cut Warner Bros. Discovery from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Thursday, May 7th. Argus cut their target price on Warner Bros. Discovery from $32.00 to $31.00 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. KeyCorp reiterated an “overweight” rating on shares of Warner Bros. Discovery in a research report on Friday, April 24th. Finally, Huber Research cut Warner Bros. Discovery from a “strong-buy” rating to a “strong sell” rating in a research report on Friday, February 27th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, thirteen have given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $26.36.

Warner Bros. Discovery Stock Performance

WBD opened at $27.09 on Wednesday. The stock has a market capitalization of $67.92 billion, a price-to-earnings ratio of -38.70 and a beta of 1.57. The company has a fifty day moving average of $27.30 and a 200 day moving average of $27.02. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.73 and a current ratio of 0.73. Warner Bros. Discovery, Inc. has a fifty-two week low of $8.83 and a fifty-two week high of $30.00.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($1.17) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($1.07). The firm had revenue of $8.89 billion for the quarter, compared to analysts’ expectations of $8.89 billion. Warner Bros. Discovery had a negative net margin of 4.67% and a negative return on equity of 4.77%. The business’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.18) EPS. As a group, sell-side analysts forecast that Warner Bros. Discovery, Inc. will post -0.71 earnings per share for the current fiscal year.

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.