Optimize Financial Inc Takes Position in Warner Bros. Discovery, Inc. $WBD

Optimize Financial Inc purchased a new position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 121,920 shares of the company’s stock, valued at approximately $2,381,000. Warner Bros. Discovery accounts for 1.2% of Optimize Financial Inc’s investment portfolio, making the stock its 2nd largest position.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Norges Bank acquired a new stake in Warner Bros. Discovery during the second quarter worth about $306,848,000. Pacer Advisors Inc. lifted its holdings in shares of Warner Bros. Discovery by 4,639.8% during the 3rd quarter. Pacer Advisors Inc. now owns 22,788,847 shares of the company’s stock worth $445,066,000 after acquiring an additional 22,308,046 shares during the period. Sound Shore Management Inc CT acquired a new stake in shares of Warner Bros. Discovery during the 2nd quarter worth approximately $97,951,000. Maverick Capital Ltd. bought a new position in Warner Bros. Discovery in the second quarter valued at approximately $77,896,000. Finally, Duquesne Family Office LLC acquired a new position in Warner Bros. Discovery during the second quarter valued at approximately $74,916,000. Institutional investors and hedge funds own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Performance

Shares of WBD stock opened at $27.19 on Wednesday. The firm has a market capitalization of $67.38 billion, a price-to-earnings ratio of 143.11 and a beta of 1.64. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.90. The business’s 50-day moving average price is $27.87 and its 200-day moving average price is $20.84. Warner Bros. Discovery, Inc. has a 12 month low of $7.52 and a 12 month high of $30.00.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). Warner Bros. Discovery had a net margin of 1.28% and a return on equity of 1.34%. The business had revenue of $9.05 billion during the quarter, compared to the consensus estimate of $9.17 billion. During the same quarter last year, the business earned $0.05 EPS. The firm’s quarterly revenue was down 6.0% compared to the same quarter last year. Equities research analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on WBD. Barclays set a $20.00 target price on Warner Bros. Discovery in a report on Wednesday, October 8th. Raymond James Financial raised their price objective on Warner Bros. Discovery from $22.00 to $25.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $29.50 target price on shares of Warner Bros. Discovery in a research report on Monday, December 8th. Rothschild & Co Redburn raised shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and set a $28.00 target price for the company in a report on Thursday, October 30th. Finally, The Goldman Sachs Group raised their price target on shares of Warner Bros. Discovery from $13.00 to $14.75 and gave the company a “buy” rating in a research note on Friday, November 7th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $25.08.

Insider Buying and Selling at Warner Bros. Discovery

In other news, CFO Gunnar Wiedenfels sold 242,994 shares of Warner Bros. Discovery stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $29.50, for a total transaction of $7,168,323.00. Following the transaction, the chief financial officer owned 918,940 shares in the company, valued at approximately $27,108,730. The trade was a 20.91% 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, CAO Lori C. Locke sold 5,000 shares of the business’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $27.62, for a total transaction of $138,100.00. Following the completion of the sale, the chief accounting officer directly owned 110,084 shares in the company, valued at approximately $3,040,520.08. This represents a 4.34% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 267,116 shares of company stock valued at $7,781,731 in the last ninety days. Insiders own 1.80% of the company’s stock.

Warner Bros. Discovery 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.