Armstrong Fleming & Moore Inc Purchases New Shares in Warner Bros. Discovery, Inc. $WBD

Armstrong Fleming & Moore Inc acquired a new position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,858 shares of the company’s stock, valued at approximately $182,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. WPG Advisers LLC bought a new position in Warner Bros. Discovery in the 1st quarter valued at approximately $26,000. Financial Gravity Asset Management Inc. acquired a new stake in Warner Bros. Discovery during the 1st quarter valued at approximately $27,000. North Capital Inc. acquired a new stake in Warner Bros. Discovery during the 1st quarter valued at approximately $28,000. Smallwood Wealth Investment Management LLC acquired a new stake in Warner Bros. Discovery during the 1st quarter valued at approximately $29,000. Finally, Golden State Wealth Management LLC increased its position in Warner Bros. Discovery by 448.0% during the 1st quarter. Golden State Wealth Management LLC now owns 2,877 shares of the company’s stock valued at $31,000 after purchasing an additional 2,352 shares during the period. Institutional investors own 59.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on WBD shares. Bank of America raised their price objective on shares of Warner Bros. Discovery from $16.00 to $24.00 and gave the stock a “buy” rating in a research report on Tuesday, September 30th. Sanford C. Bernstein raised their price objective on shares of Warner Bros. Discovery from $13.00 to $16.00 and gave the stock a “market perform” rating in a research report on Monday, September 22nd. Raymond James Financial raised their price objective on shares of Warner Bros. Discovery from $13.00 to $22.00 and gave the stock an “outperform” rating in a research report on Thursday, October 2nd. Seaport Global Securities raised their price objective on shares of Warner Bros. Discovery from $15.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, October 3rd. Finally, Weiss Ratings raised shares of Warner Bros. Discovery from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and sixteen have assigned a Hold rating to the stock. According to MarketBeat.com, Warner Bros. Discovery has an average rating of “Hold” and an average target price of $16.61.

Warner Bros. Discovery Stock Down 3.8%

Shares of NASDAQ WBD opened at $17.89 on Thursday. Warner Bros. Discovery, Inc. has a 12 month low of $7.25 and a 12 month high of $20.24. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $44.29 billion, a price-to-earnings ratio of 59.64, a PEG ratio of 2.18 and a beta of 1.73. The business has a 50-day moving average of $14.76 and a 200-day moving average of $11.69.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.63 earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.79. Warner Bros. Discovery had a return on equity of 2.14% and a net margin of 2.00%.The firm had revenue of $9.81 billion during the quarter, compared to the consensus estimate of $9.73 billion. During the same quarter in the previous year, the company posted ($4.07) earnings per share. The business’s revenue was up 1.0% on a year-over-year basis. Sell-side analysts expect that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Warner Bros. Discovery news, insider Bruce Campbell sold 289,322 shares of the firm’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $16.48, for a total value of $4,768,026.56. Following the transaction, the insider directly owned 402,464 shares of the company’s stock, valued at approximately $6,632,606.72. This trade represents a 41.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Anton J. Levy acquired 250,000 shares of the business’s stock in a transaction that occurred on Monday, August 11th. The shares were bought at an average price of $10.90 per share, with a total value of $2,725,000.00. Following the completion of the purchase, the director owned 874,000 shares in the company, valued at $9,526,600. This trade represents a 40.06% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 970,115 shares of company stock worth $17,818,490. 1.90% of the stock is owned by corporate insiders.

Warner Bros. Discovery Profile

Warner Bros. Discovery, Inc operates as a media and entertainment company worldwide. It operates through three segments: Studios, Network, and DTC. The Studios segment produces and releases feature films for initial exhibition in theaters; produces and licenses television programs to its networks and third parties and direct-to-consumer services; distributes films and television programs to various third parties and internal television; and offers streaming services and distribution through the home entertainment market, themed experience licensing, and interactive gaming.