Trek Financial LLC Invests $8.31 Million in Warner Bros. Discovery, Inc. $WBD

Trek Financial LLC acquired a new position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) during the fourth quarter, Holdings Channel.com reports. The firm acquired 288,408 shares of the company’s stock, valued at approximately $8,312,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. 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 acquiring an additional 521 shares during the period. TOWER TRUST & INVESTMENT Co increased its stake in shares of Warner Bros. Discovery by 4,730.8% in the fourth quarter. TOWER TRUST & INVESTMENT Co now owns 1,256 shares of the company’s stock worth $36,000 after acquiring an additional 1,230 shares during the period. 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 acquiring an additional 440 shares during the period. 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 acquiring an additional 847 shares during the period. Finally, Richardson Financial Services Inc. increased its stake in shares of Warner Bros. Discovery by 226.1% in the fourth quarter. Richardson Financial Services Inc. now owns 1,647 shares of the company’s stock worth $47,000 after acquiring an additional 1,142 shares during the period. Institutional investors and hedge funds own 59.95% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on WBD. Rothschild & Co Redburn set a $31.00 price objective on shares of Warner Bros. Discovery and gave the stock a “neutral” rating in a research note on Tuesday, February 17th. KeyCorp restated an “overweight” rating on shares of Warner Bros. Discovery in a research report on Friday, April 24th. Raymond James Financial reiterated an “underperform” rating on shares of Warner Bros. Discovery in a research report on Friday, February 27th. TD Cowen increased their target price on shares of Warner Bros. Discovery from $22.00 to $26.00 and gave the stock a “hold” rating in a research note on Friday, February 27th. Finally, Argus lowered 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. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, thirteen have issued a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $26.36.

Insider Activity at Warner Bros. Discovery

In other Warner Bros. Discovery news, insider Gerhard Zeiler sold 600,000 shares of Warner Bros. Discovery stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $28.02, for a total transaction of $16,812,000.00. Following 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. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bruce Campbell sold 1,580,331 shares of Warner Bros. Discovery stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $28.00, for a total transaction of $44,249,268.00. Following the transaction, the insider directly owned 690,028 shares in the company, valued at $19,320,784. This trade represents a 69.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 8,206,827 shares of company stock valued at $230,674,025 over the last ninety days. Corporate insiders own 1.80% of the company’s stock.

Warner Bros. Discovery Stock Performance

NASDAQ:WBD opened at $27.24 on Tuesday. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.92. The company’s 50-day moving average price is $27.42 and its 200-day moving average price is $26.77. Warner Bros. Discovery, Inc. has a twelve month low of $8.82 and a twelve month high of $30.00. The company has a market cap of $68.28 billion, a P/E ratio of -38.91 and a beta of 1.57.

Warner Bros. Discovery (NASDAQ:WBD) last issued its earnings results on Wednesday, May 6th. The company reported ($1.17) 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 firm had revenue of $8.89 billion for the quarter, compared to analysts’ expectations of $8.89 billion. During the same period last year, the firm earned ($0.18) earnings per share. Warner Bros. Discovery’s revenue for the quarter was down 1.0% on a year-over-year basis. On average, sell-side analysts forecast that Warner Bros. Discovery, Inc. will post -0.15 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.