Cibc World Market Inc. Has $7.54 Million Stock Position in Warner Bros. Discovery, Inc. $WBD

Cibc World Market Inc. boosted its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 884.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 261,568 shares of the company’s stock after purchasing an additional 234,988 shares during the period. Cibc World Market Inc.’s holdings in Warner Bros. Discovery were worth $7,538,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. JFS Wealth Advisors LLC lifted its stake in Warner Bros. Discovery by 12.4% in the 4th quarter. JFS Wealth Advisors LLC now owns 3,425 shares of the company’s stock valued at $99,000 after purchasing an additional 378 shares during the last quarter. Salomon & Ludwin LLC lifted its stake in Warner Bros. Discovery by 20.2% in the 4th quarter. Salomon & Ludwin LLC now owns 2,494 shares of the company’s stock valued at $71,000 after purchasing an additional 419 shares during the last quarter. CYBER HORNET ETFs LLC lifted its stake in Warner Bros. Discovery by 7.1% in the 4th quarter. CYBER HORNET ETFs LLC now owns 6,396 shares of the company’s stock valued at $184,000 after purchasing an additional 425 shares during the last quarter. Root Financial Partners LLC lifted its stake in Warner Bros. Discovery by 17.5% in the 4th quarter. Root Financial Partners LLC now owns 2,879 shares of the company’s stock valued at $83,000 after purchasing an additional 429 shares during the last quarter. Finally, Optas LLC lifted its stake in Warner Bros. Discovery by 3.0% in the 4th quarter. Optas LLC now owns 15,120 shares of the company’s stock valued at $436,000 after purchasing an additional 435 shares during the last quarter. 59.95% of the stock is currently owned by institutional investors and hedge funds.

More Warner Bros. Discovery News

Here are the key news stories impacting Warner Bros. Discovery this week:

• Positive Sentiment: Warner Bros. Discovery signed a World Series of Poker broadcast deal, which adds another content partnership and could support its media and sports programming strategy. WBD signs World Series of Poker broadcast deal
• Neutral Sentiment: Analysts noted WBD has been little changed since its last earnings report, with investors still waiting for a clearer operational turnaround. Warner Bros. Discovery (WBD) Down 0.4% Since Last Earnings Report: Can It Rebound?
• Neutral Sentiment: Paramount is seeking to dismiss a lawsuit aimed at blocking the Warner Bros. Discovery transaction, while other reports say states are preparing their own legal challenge, keeping the deal in limbo. U.S. states are preparing a lawsuit to block Paramount’s acquisition of Warner Bros
• Negative Sentiment: State attorneys general planning a lawsuit to block the Paramount Skydance acquisition of Warner Bros. Discovery is the biggest near-term concern, since it raises the odds of delay or even failure of the deal. Stock Market Today, June 5: Warner Bros. Discovery Falls on Reports of State Antitrust Challenge to Paramount Deal
• Negative Sentiment: Political scrutiny is increasing, with Senator Elizabeth Warren calling for a foreign-ownership review of the Paramount-WBD deal, adding another potential hurdle. Elizabeth Warren Calls For Foreign Ownership Review Of Paramount-WBD

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on WBD shares. UBS Group raised their price objective on shares of Warner Bros. Discovery from $30.00 to $31.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Raymond James Financial restated an “underperform” rating on shares of Warner Bros. Discovery in a research report on Friday, February 27th. Guggenheim restated a “neutral” rating on shares of Warner Bros. Discovery in a research report on Thursday, May 7th. TD Cowen raised their price objective 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. Finally, Argus cut their price objective on shares of Warner Bros. Discovery from $32.00 to $31.00 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Warner Bros. Discovery currently has a consensus rating of “Hold” and a consensus price target of $27.04.

Warner Bros. Discovery Stock Down 2.8%

NASDAQ WBD opened at $26.24 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.92. Warner Bros. Discovery, Inc. has a 1-year low of $9.11 and a 1-year high of $30.00. The company has a 50 day moving average of $27.18 and a 200-day moving average of $27.40. The company has a market cap of $65.79 billion, a price-to-earnings ratio of -37.49 and a beta of 1.54.

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 analysts’ consensus estimates 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 business had revenue of $8.89 billion during the quarter, compared to analyst estimates of $8.89 billion. During the same quarter in the previous year, the firm posted ($0.18) earnings per share. The firm’s quarterly revenue was down 1.0% on a year-over-year basis. On average, equities research analysts expect that Warner Bros. Discovery, Inc. will post -0.93 earnings per share for the current fiscal year.

Insider Activity at Warner Bros. Discovery

In related news, 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 transaction, the insider directly owned 604,666 shares of the company’s stock, valued at $16,821,808.12. This trade represents a 6.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Fazal F. Merchant sold 35,000 shares of Warner Bros. Discovery stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $27.48, for a total transaction of $961,800.00. Following the completion of the transaction, the director directly owned 95,539 shares in the company, valued at $2,625,411.72. This trade represents a 26.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 676,784 shares of company stock valued at $18,534,231 over the last three months. 1.90% of the stock is owned by insiders.

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.