Global Retirement Partners LLC Acquires 26,643 Shares of Warner Bros. Discovery, Inc. $WBD

Global Retirement Partners LLC grew its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 246.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 37,466 shares of the company’s stock after purchasing an additional 26,643 shares during the quarter. Global Retirement Partners LLC’s holdings in Warner Bros. Discovery were worth $1,080,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Concord Wealth Partners lifted its stake in shares of Warner Bros. Discovery by 49.9% in the 3rd quarter. Concord Wealth Partners now owns 1,321 shares of the company’s stock valued at $26,000 after acquiring an additional 440 shares during the last quarter. Physician Wealth Advisors Inc. grew its position in Warner Bros. Discovery by 152.1% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 1,404 shares of the company’s stock worth $27,000 after acquiring an additional 847 shares during the last quarter. Rakuten Securities Inc. grew its position in Warner Bros. Discovery by 81.5% during the 4th quarter. Rakuten Securities Inc. now owns 1,160 shares of the company’s stock worth $33,000 after acquiring an additional 521 shares during the last quarter. JPL Wealth Management LLC purchased a new position in Warner Bros. Discovery in the 3rd quarter worth approximately $33,000. Finally, TOWER TRUST & INVESTMENT Co lifted its position in Warner Bros. Discovery by 4,730.8% in the fourth quarter. TOWER TRUST & INVESTMENT Co now owns 1,256 shares of the company’s stock valued at $36,000 after purchasing an additional 1,230 shares during the last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Price Performance

Shares of Warner Bros. Discovery stock opened at $27.03 on Tuesday. The business has a 50 day moving average of $27.25 and a 200 day moving average of $27.16. Warner Bros. Discovery, Inc. has a 52 week low of $8.84 and a 52 week high of $30.00. The company has a market cap of $67.77 billion, a PE ratio of -38.61 and a beta of 1.57. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.92.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($1.17) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($1.07). Warner Bros. Discovery had a negative net margin of 4.67% and a negative return on equity of 4.77%. The company had revenue of $8.89 billion during the quarter, compared to the consensus estimate of $8.89 billion. During the same quarter last year, the firm earned ($0.18) EPS. The business’s revenue was down 1.0% on a year-over-year basis. As a group, equities research analysts forecast that Warner Bros. Discovery, Inc. will post -0.71 earnings per share for the current year.

Insider Activity

In other Warner Bros. Discovery news, Director Paul A. Gould sold 600,000 shares of the firm’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $27.35, for a total value of $16,410,000.00. Following the completion of the sale, the director directly owned 244,357 shares in the company, valued at $6,683,163.95. This trade represents a 71.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Bruce Campbell sold 41,784 shares of Warner Bros. Discovery stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $27.82, for a total value of $1,162,430.88. Following the sale, the insider directly owned 604,666 shares in the company, valued at approximately $16,821,808.12. The trade was a 6.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 8,206,827 shares of company stock worth $230,674,025. 1.90% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on WBD shares. Argus dropped their price objective on Warner Bros. Discovery from $32.00 to $31.00 and set a “buy” rating for the company in a research note on Tuesday, March 3rd. Deutsche Bank Aktiengesellschaft lowered shares of Warner Bros. Discovery from a “buy” rating to a “hold” rating and upped their price target for the company from $29.50 to $31.00 in a report on Friday, February 27th. Wells Fargo & Company started coverage on shares of Warner Bros. Discovery in a research report on Monday, March 9th. They set an “equal weight” rating and a $31.00 price target for the company. Guggenheim reissued a “neutral” rating on shares of Warner Bros. Discovery in a report on Thursday, May 7th. Finally, TD Cowen boosted their price objective on shares of Warner Bros. Discovery from $22.00 to $26.00 and gave the company a “hold” rating in a research report on Friday, February 27th. One investment 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 issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $26.36.

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.