Warner Bros. Discovery, Inc. $WBD Shares Sold by Premier Path Wealth Partners LLC

Premier Path Wealth Partners LLC reduced its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 34.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 88,333 shares of the company’s stock after selling 46,610 shares during the period. Premier Path Wealth Partners LLC’s holdings in Warner Bros. Discovery were worth $1,725,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Howard Capital Management Inc. grew its holdings in Warner Bros. Discovery by 3.1% during the third quarter. Howard Capital Management Inc. now owns 15,559 shares of the company’s stock worth $304,000 after acquiring an additional 474 shares during the period. JB Capital LLC grew its stake in shares of Warner Bros. Discovery by 4.2% during the 3rd quarter. JB Capital LLC now owns 13,511 shares of the company’s stock worth $264,000 after purchasing an additional 547 shares during the period. Apollon Wealth Management LLC increased its holdings in shares of Warner Bros. Discovery by 1.3% in the 3rd quarter. Apollon Wealth Management LLC now owns 46,314 shares of the company’s stock valued at $905,000 after purchasing an additional 581 shares in the last quarter. Miracle Mile Advisors LLC lifted its stake in shares of Warner Bros. Discovery by 2.9% in the third quarter. Miracle Mile Advisors LLC now owns 22,654 shares of the company’s stock valued at $442,000 after purchasing an additional 632 shares during the period. Finally, TD Private Client Wealth LLC boosted its holdings in Warner Bros. Discovery by 40.9% during the third quarter. TD Private Client Wealth LLC now owns 2,179 shares of the company’s stock worth $43,000 after buying an additional 633 shares in the last quarter. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Gunnar Wiedenfels sold 242,994 shares of the firm’s stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $29.50, for a total value of $7,168,323.00. Following the transaction, the chief financial officer owned 918,940 shares in the company, valued at $27,108,730. This trade represents a 20.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Lori C. Locke sold 4,122 shares of the business’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $28.92, for a total transaction of $119,208.24. Following the sale, the chief accounting officer directly owned 100,962 shares of the company’s stock, valued at approximately $2,919,821.04. This trade represents a 3.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 267,116 shares of company stock valued at $7,781,731 in the last 90 days. Corporate insiders own 1.80% of the company’s stock.

Warner Bros. Discovery Price Performance

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

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

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Arete Research lifted their price target on shares of Warner Bros. Discovery from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Singular Research upgraded Warner Bros. Discovery to a “moderate buy” rating in a research report on Wednesday, October 22nd. Barrington Research cut Warner Bros. Discovery from an “outperform” rating to a “hold” rating in a research report on Friday, December 5th. Wells Fargo & Company boosted their price objective on shares of Warner Bros. Discovery from $21.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Friday, November 7th. Finally, Guggenheim lowered shares of Warner Bros. Discovery from a “buy” rating to a “neutral” rating and increased their price target for the company from $25.00 to $30.00 in a research report on Wednesday, January 14th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, Warner Bros. Discovery has a consensus rating of “Moderate Buy” and a consensus price target of $25.08.

About Warner Bros. Discovery

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.