Warner Bros. Discovery, Inc. $WBD Shares Bought by Cidel Asset Management Inc.

Cidel Asset Management Inc. increased its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 28.5% in the second quarter, HoldingsChannel.com reports. The firm owned 37,010 shares of the company’s stock after buying an additional 8,218 shares during the quarter. Cidel Asset Management Inc.’s holdings in Warner Bros. Discovery were worth $424,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of WBD. WPG Advisers LLC acquired a new position in Warner Bros. Discovery in the 1st quarter worth about $26,000. Financial Gravity Asset Management Inc. acquired a new position in Warner Bros. Discovery in the 1st quarter worth about $27,000. North Capital Inc. acquired a new position in Warner Bros. Discovery in the 1st quarter worth about $28,000. Smallwood Wealth Investment Management LLC acquired a new position in Warner Bros. Discovery in the 1st quarter worth about $29,000. Finally, Golden State Wealth Management LLC raised its holdings in shares of Warner Bros. Discovery by 448.0% during the first 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. Institutional investors and hedge funds own 59.95% of the company’s stock.

Analysts Set New Price Targets

WBD has been the subject of a number of research analyst reports. Benchmark reissued a “buy” rating and set a $18.00 target price on shares of Warner Bros. Discovery in a report on Monday, July 14th. Guggenheim increased their target price on Warner Bros. Discovery from $14.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. The Goldman Sachs Group increased their target price on Warner Bros. Discovery from $11.50 to $13.00 and gave the company a “neutral” rating in a report on Tuesday, September 30th. Barclays set a $20.00 target price on Warner Bros. Discovery in a report on Wednesday, October 8th. Finally, KeyCorp reissued a “sector weight” rating on shares of Warner Bros. Discovery in a report on Friday, September 26th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and sixteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Warner Bros. Discovery presently has a consensus rating of “Hold” and an average price target of $17.00.

Insider Activity

In other Warner Bros. Discovery news, Director Anton J. Levy acquired 75,000 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was bought at an average cost of $11.00 per share, for a total transaction of $825,000.00. Following the completion of the transaction, the director owned 949,000 shares of the company’s stock, valued at approximately $10,439,000. The trade was a 8.58% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Bruce Campbell sold 150,000 shares of the stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $18.00, for a total value of $2,700,000.00. Following the completion of the transaction, the insider owned 252,464 shares of the company’s stock, valued at $4,544,352. The trade was a 37.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 970,115 shares of company stock worth $17,818,490 over the last ninety days. Corporate insiders own 1.80% of the company’s stock.

Warner Bros. Discovery Price Performance

WBD stock opened at $18.19 on Monday. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.04 and a quick ratio of 1.04. The business has a 50 day simple moving average of $15.52 and a 200-day simple moving average of $12.07. The firm has a market capitalization of $45.03 billion, a PE ratio of 60.64, a price-to-earnings-growth ratio of 2.22 and a beta of 1.73. Warner Bros. Discovery, Inc. has a 1 year low of $7.25 and a 1 year high of $20.24.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.79. The business had revenue of $9.81 billion during the quarter, compared to analyst estimates of $9.73 billion. Warner Bros. Discovery had a return on equity of 2.14% and a net margin of 2.00%.The business’s revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the business earned ($4.07) earnings per share. Equities research analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Warner Bros. Discovery 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.