Beese Fulmer Investment Management Inc. Buys 31,880 Shares of Warner Bros. Discovery, Inc. $WBD

Beese Fulmer Investment Management Inc. lifted its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 99.2% during the 4th quarter, HoldingsChannel reports. The firm owned 64,012 shares of the company’s stock after acquiring an additional 31,880 shares during the period. Beese Fulmer Investment Management Inc.’s holdings in Warner Bros. Discovery were worth $1,845,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Private Advisory Group LLC acquired a new position in Warner Bros. Discovery in the fourth quarter valued at about $3,438,000. Hauser Brothers GmbH lifted its position in Warner Bros. Discovery by 19.8% in the third quarter. Hauser Brothers GmbH now owns 2,877,000 shares of the company’s stock valued at $56,188,000 after buying an additional 476,000 shares during the last quarter. US Bancorp DE lifted its position in Warner Bros. Discovery by 32.7% in the third quarter. US Bancorp DE now owns 175,293 shares of the company’s stock valued at $3,423,000 after buying an additional 43,240 shares during the last quarter. Triad Investment Management acquired a new position in Warner Bros. Discovery in the fourth quarter valued at about $9,383,000. Finally, Mn Services Vermogensbeheer B.V. lifted its position in Warner Bros. Discovery by 4.3% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 916,705 shares of the company’s stock valued at $26,419,000 after buying an additional 38,105 shares during the last quarter. 59.95% of the stock is owned by institutional investors.

Warner Bros. Discovery Price Performance

WBD stock opened at $26.98 on Monday. The company’s 50 day moving average price is $27.33 and its 200 day moving average price is $26.94. 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 $8.82 and a fifty-two week high of $30.00. The firm has a market capitalization of $67.64 billion, a price-to-earnings ratio of -38.54 and a beta of 1.57.

Warner Bros. Discovery (NASDAQ:WBD) last released 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 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 quarter in the previous year, the company posted ($0.18) earnings per share. The firm’s quarterly revenue was down 1.0% on a year-over-year basis. On average, equities research analysts anticipate that Warner Bros. Discovery, Inc. will post -0.71 EPS for the current fiscal year.

Insider Activity

In related news, insider Bruce Campbell sold 41,784 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $27.82, for a total transaction of $1,162,430.88. Following the sale, the insider directly owned 604,666 shares in the company, valued at approximately $16,821,808.12. This represents a 6.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Gunnar Wiedenfels sold 374,323 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $28.05, for a total transaction of $10,499,760.15. Following the sale, the chief financial officer owned 663,380 shares in the company, valued at $18,607,809. The trade was a 36.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 8,206,827 shares of company stock valued at $230,674,025. 1.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

WBD has been the topic of a number of recent analyst reports. Moffett Nathanson raised shares of Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a research report on Sunday, March 8th. Huber Research lowered shares of Warner Bros. Discovery from a “strong-buy” rating to a “strong sell” rating in a research note on Friday, February 27th. Arete Research reiterated a “neutral” rating and set a $31.25 price target on shares of Warner Bros. Discovery in a research note on Friday, February 27th. Sanford C. Bernstein boosted their price target on shares of Warner Bros. Discovery from $23.50 to $27.75 and gave the stock a “market perform” rating in a research note on Tuesday, February 24th. Finally, TD Cowen boosted their price target 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. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, thirteen have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, Warner Bros. Discovery presently has a consensus rating of “Hold” and an average price target of $26.36.

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.