Canada Post Corp Registered Pension Plan Raises Stake in Warner Bros. Discovery, Inc. $WBD

Canada Post Corp Registered Pension Plan increased its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 23.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 133,579 shares of the company’s stock after buying an additional 25,580 shares during the period. Canada Post Corp Registered Pension Plan’s holdings in Warner Bros. Discovery were worth $3,850,000 as of its most recent filing with the SEC.

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

Wall Street Analyst Weigh In

WBD has been the topic of a number of research analyst reports. Moffett Nathanson raised shares of Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a report on Sunday, March 8th. Wells Fargo & Company started coverage on shares of Warner Bros. Discovery in a report on Monday, March 9th. They set an “equal weight” rating and a $31.00 price objective on the stock. Zacks Research lowered shares of Warner Bros. Discovery from a “hold” rating to a “strong sell” rating in a research report on Friday, May 1st. Arete Research reiterated a “neutral” rating and set a $31.25 target price on shares of Warner Bros. Discovery in a research report on Friday, February 27th. Finally, 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 report on Friday, February 27th. 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. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $26.36.

Warner Bros. Discovery Stock Performance

Shares of Warner Bros. Discovery stock opened at $26.98 on Monday. Warner Bros. Discovery, Inc. has a 12-month low of $8.82 and a 12-month high of $30.00. The company has a market cap of $67.64 billion, a price-to-earnings ratio of -38.54 and a beta of 1.57. 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 $27.33 and its 200-day moving average price is $26.94.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings results 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 firm had revenue of $8.89 billion during the quarter, compared to analysts’ expectations of $8.89 billion. During the same period in the previous year, the company posted ($0.18) earnings per share. The company’s quarterly revenue was down 1.0% compared to the same quarter last year. On average, equities analysts expect that Warner Bros. Discovery, Inc. will post -0.71 earnings per share for the current fiscal year.

Insider Transactions at Warner Bros. Discovery

In other news, Director Fazal F. Merchant sold 35,000 shares of the stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $27.48, for a total value of $961,800.00. Following the sale, the director directly owned 95,539 shares of the company’s stock, valued at approximately $2,625,411.72. This represents a 26.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Gunnar Wiedenfels sold 374,323 shares of the stock in a transaction dated 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 in the company, valued at approximately $18,607,809. The trade was a 36.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 8,206,827 shares of company stock valued at $230,674,025. Company insiders own 1.80% of the company’s stock.

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.