Valley Wealth Managers Inc. Purchases 38,283 Shares of Warner Bros. Discovery, Inc. $WBD

Valley Wealth Managers Inc. raised its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 4,833.7% in the 4th quarter, Holdings Channel reports. The firm owned 39,075 shares of the company’s stock after buying an additional 38,283 shares during the quarter. Valley Wealth Managers Inc.’s holdings in Warner Bros. Discovery were worth $1,126,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of WBD. Brighton Jones LLC boosted its holdings in Warner Bros. Discovery by 304.9% in the 4th quarter. Brighton Jones LLC now owns 68,950 shares of the company’s stock valued at $729,000 after purchasing an additional 51,920 shares during the period. NewEdge Advisors LLC boosted its holdings in Warner Bros. Discovery by 50.5% in the 1st quarter. NewEdge Advisors LLC now owns 63,254 shares of the company’s stock valued at $679,000 after purchasing an additional 21,228 shares during the period. Empowered Funds LLC boosted its holdings in Warner Bros. Discovery by 6.2% in the 1st quarter. Empowered Funds LLC now owns 65,082 shares of the company’s stock valued at $698,000 after purchasing an additional 3,779 shares during the period. Focus Partners Wealth boosted its holdings in Warner Bros. Discovery by 91.6% in the 1st quarter. Focus Partners Wealth now owns 116,821 shares of the company’s stock valued at $1,254,000 after purchasing an additional 55,837 shares during the period. Finally, Baird Financial Group Inc. boosted its holdings in Warner Bros. Discovery by 3.8% in the 2nd quarter. Baird Financial Group Inc. now owns 111,450 shares of the company’s stock valued at $1,277,000 after purchasing an additional 4,062 shares during the period. 59.95% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Warner Bros. Discovery news, insider Gerhard Zeiler sold 600,000 shares of the business’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $28.02, for a total value of $16,812,000.00. Following the completion of the sale, 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Gunnar Wiedenfels sold 374,323 shares of the business’s stock in a transaction 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 completion of the sale, the chief financial officer directly owned 663,380 shares of the company’s stock, valued at $18,607,809. This represents a 36.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 8,206,827 shares of company stock valued at $230,674,025 over the last three months. 1.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on WBD. Rothschild & Co Redburn set a $31.00 price target on shares of Warner Bros. Discovery and gave the company a “neutral” rating in a report on Tuesday, February 17th. TD Cowen lifted their price objective on shares of Warner Bros. Discovery from $22.00 to $26.00 and gave the stock a “hold” rating in a report on Friday, February 27th. Weiss Ratings downgraded shares of Warner Bros. Discovery from a “hold (c-)” rating to a “sell (d-)” rating in a report on Thursday, May 7th. Raymond James Financial reaffirmed an “underperform” rating on shares of Warner Bros. Discovery in a report on Friday, February 27th. Finally, Argus dropped their price objective on shares of Warner Bros. Discovery from $32.00 to $31.00 and set a “buy” rating for the company in a report on Tuesday, March 3rd. One equities research 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 company. According to data from MarketBeat.com, Warner Bros. Discovery currently has an average rating of “Hold” and an average target price of $26.36.

Warner Bros. Discovery Stock Performance

NASDAQ WBD opened at $27.20 on Wednesday. Warner Bros. Discovery, Inc. has a 52-week low of $8.82 and a 52-week high of $30.00. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.73 and a current ratio of 0.73. The company has a market capitalization of $68.18 billion, a P/E ratio of -38.86 and a beta of 1.57. The company has a fifty day moving average of $27.40 and a 200-day moving average of $26.81.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($1.17) earnings per share (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 company had revenue of $8.89 billion for the quarter, compared to the consensus estimate of $8.89 billion. During the same period in the prior year, the firm posted ($0.18) earnings per share. The business’s revenue was down 1.0% on a year-over-year basis. As a group, equities research analysts predict that Warner Bros. Discovery, Inc. will post -0.55 EPS for the current fiscal year.

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.