TriaGen Wealth Management LLC Invests $443,000 in Warner Bros. Discovery, Inc. $WBD

by · The Markets Daily

TriaGen Wealth Management LLC bought a new stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD – Free Report) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 22,703 shares of the company’s stock, valued at approximately $443,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Financial Gravity Companies Inc. acquired a new position in shares of Warner Bros. Discovery during the second quarter valued at about $29,000. Grove Bank & Trust increased its stake in Warner Bros. Discovery by 66.5% during the third quarter. Grove Bank & Trust now owns 1,690 shares of the company’s stock valued at $33,000 after acquiring an additional 675 shares during the period. Trifecta Capital Advisors LLC bought a new position in Warner Bros. Discovery during the second quarter valued at about $34,000. Cranbrook Wealth Management LLC raised its holdings in Warner Bros. Discovery by 73.8% in the 3rd quarter. Cranbrook Wealth Management LLC now owns 1,929 shares of the company’s stock valued at $38,000 after acquiring an additional 819 shares in the last quarter. Finally, Salomon & Ludwin LLC lifted its position in shares of Warner Bros. Discovery by 69.7% in the 3rd quarter. Salomon & Ludwin LLC now owns 2,075 shares of the company’s stock worth $39,000 after acquiring an additional 852 shares during the period. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Warner Bros. Discovery Stock Down 1.1%

Shares of NASDAQ WBD opened at $28.51 on Monday. Warner Bros. Discovery, Inc. has a 52-week low of $7.52 and a 52-week high of $30.00. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.07 and a current ratio of 1.07. The business has a fifty day moving average of $25.32 and a two-hundred day moving average of $18.23. The stock has a market cap of $70.65 billion, a PE ratio of 150.06 and a beta of 1.56.

Warner Bros. Discovery (NASDAQ:WBD – Get Free Report) last announced its earnings results 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 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 quarter last year, the business earned $0.05 EPS. The company’s revenue for the quarter was down 6.0% compared to the same quarter last year. As a group, equities research analysts expect that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Insider Activity at Warner Bros. Discovery

In related news, CFO Gunnar Wiedenfels sold 242,994 shares of the firm’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $29.50, for a total transaction of $7,168,323.00. Following the completion of the sale, the chief financial officer directly owned 918,940 shares of the company’s stock, valued at $27,108,730. This trade represents a 20.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Lori C. Locke sold 4,122 shares of Warner Bros. Discovery stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $28.92, for a total value of $119,208.24. Following the completion of the transaction, the chief accounting officer owned 100,962 shares of the company’s stock, valued at approximately $2,919,821.04. The trade was a 3.92% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 489,326 shares of company stock valued at $12,781,456. Company insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on WBD shares. Needham & Company LLC reissued a “hold” rating on shares of Warner Bros. Discovery in a report on Friday, September 12th. Wells Fargo & Company raised their target price on 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. Sanford C. Bernstein boosted their price target on shares of Warner Bros. Discovery from $16.00 to $23.50 in a report on Friday, November 7th. Barrington Research cut shares of Warner Bros. Discovery from an “outperform” rating to a “hold” rating in a research note on Friday, December 5th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Warner Bros. Discovery in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $23.22.

Get Our Latest Research Report on WBD

About Warner Bros. Discovery

(Free Report)

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.

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