Arista Wealth Management LLC Takes Position in Warner Bros. Discovery, Inc. $WBD

Arista Wealth Management LLC bought a new stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 10,000 shares of the company’s stock, valued at approximately $115,000.

Several other institutional investors and hedge funds have also made changes to their positions in WBD. WPG Advisers LLC purchased a new stake in shares of Warner Bros. Discovery in the 1st quarter valued at about $26,000. Financial Gravity Asset Management Inc. purchased a new stake in Warner Bros. Discovery during the 1st quarter valued at approximately $27,000. North Capital Inc. purchased a new stake in Warner Bros. Discovery during the 1st quarter valued at approximately $28,000. Smallwood Wealth Investment Management LLC purchased a new stake in Warner Bros. Discovery during the 1st quarter valued at approximately $29,000. Finally, Golden State Wealth Management LLC raised its stake in Warner Bros. Discovery by 448.0% during the 1st quarter. Golden State Wealth Management LLC now owns 2,877 shares of the company’s stock valued at $31,000 after acquiring an additional 2,352 shares during the last quarter. 59.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the company. KeyCorp reaffirmed a “sector weight” rating on shares of Warner Bros. Discovery in a research note on Friday, September 26th. TD Cowen reaffirmed a “hold” rating and set a $14.00 price objective on shares of Warner Bros. Discovery in a research note on Tuesday, September 16th. Wells Fargo & Company upped their price objective on Warner Bros. Discovery from $14.00 to $21.00 and gave the company an “equal weight” rating in a research note on Thursday. Bank of America upped their price objective on Warner Bros. Discovery from $16.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday, September 30th. Finally, Seaport Global Securities upped their price objective on Warner Bros. Discovery from $15.00 to $24.00 and gave the company a “buy” rating in a research note on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and sixteen have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $17.00.

Warner Bros. Discovery Stock Performance

NASDAQ WBD opened at $18.19 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.92. The business’s 50 day moving average is $15.52 and its two-hundred day moving average is $12.04. Warner Bros. Discovery, Inc. has a 12-month low of $7.25 and a 12-month high of $20.24. The stock has a market capitalization of $45.03 billion, a price-to-earnings ratio of 60.64, a PEG ratio of 2.23 and a beta of 1.73.

Warner Bros. Discovery (NASDAQ:WBD) last released its earnings results on Thursday, August 7th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.79. Warner Bros. Discovery had a return on equity of 2.14% and a net margin of 2.00%.The company had revenue of $9.81 billion for the quarter, compared to analysts’ expectations of $9.73 billion. During the same quarter in the previous year, the firm posted ($4.07) EPS. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. Research analysts expect that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Insiders Place Their Bets

In other news, Director Anton J. Levy purchased 250,000 shares of the stock in a transaction that occurred on Monday, August 11th. The shares were acquired at an average price of $10.90 per share, for a total transaction of $2,725,000.00. Following the acquisition, the director directly owned 874,000 shares in the company, valued at approximately $9,526,600. The trade was a 40.06% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bruce Campbell sold 289,322 shares of the company’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $16.48, for a total value of $4,768,026.56. Following the completion of the sale, the insider owned 402,464 shares in the company, valued at approximately $6,632,606.72. This represents a 41.82% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 970,115 shares of company stock worth $17,818,490. Company insiders own 1.90% of the company’s stock.

Warner Bros. Discovery Company Profile

Warner Bros. Discovery, Inc operates as a media and entertainment company worldwide. It operates through three segments: Studios, Network, and DTC. The Studios segment produces and releases feature films for initial exhibition in theaters; produces and licenses television programs to its networks and third parties and direct-to-consumer services; distributes films and television programs to various third parties and internal television; and offers streaming services and distribution through the home entertainment market, themed experience licensing, and interactive gaming.