Prestige Wealth Management Group LLC Has $77,000 Stake in Warner Bros. Discovery, Inc. $WBD

Prestige Wealth Management Group LLC decreased its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 94.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 2,686 shares of the company’s stock after selling 42,718 shares during the period. Prestige Wealth Management Group LLC’s holdings in Warner Bros. Discovery were worth $77,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in WBD. JFS Wealth Advisors LLC raised its position in Warner Bros. Discovery by 12.4% during the fourth quarter. JFS Wealth Advisors LLC now owns 3,425 shares of the company’s stock worth $99,000 after acquiring an additional 378 shares in the last quarter. Salomon & Ludwin LLC raised its position in Warner Bros. Discovery by 20.2% during the fourth quarter. Salomon & Ludwin LLC now owns 2,494 shares of the company’s stock worth $71,000 after acquiring an additional 419 shares in the last quarter. CYBER HORNET ETFs LLC raised its position in Warner Bros. Discovery by 7.1% during the fourth quarter. CYBER HORNET ETFs LLC now owns 6,396 shares of the company’s stock worth $184,000 after acquiring an additional 425 shares in the last quarter. Root Financial Partners LLC raised its position in Warner Bros. Discovery by 17.5% during the fourth quarter. Root Financial Partners LLC now owns 2,879 shares of the company’s stock worth $83,000 after acquiring an additional 429 shares in the last quarter. Finally, Optas LLC raised its position in Warner Bros. Discovery by 3.0% during the fourth quarter. Optas LLC now owns 15,120 shares of the company’s stock worth $436,000 after acquiring an additional 435 shares in the last quarter. Institutional investors and hedge funds own 59.95% of the company’s stock.

Insider Buying and Selling

In related news, Director Fazal F. Merchant sold 35,000 shares of the firm’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $27.48, for a total transaction of $961,800.00. Following the transaction, the director directly owned 95,539 shares of the company’s stock, valued at approximately $2,625,411.72. This trade represents a 26.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul A. Gould sold 600,000 shares of the firm’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $27.35, for a total transaction of $16,410,000.00. Following the transaction, the director directly owned 244,357 shares in the company, valued at approximately $6,683,163.95. This represents a 71.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 676,784 shares of company stock valued at $18,534,231. 1.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

WBD has been the topic of several analyst reports. KeyCorp reaffirmed an “overweight” rating on shares of Warner Bros. Discovery in a research report on Friday, April 24th. Wells Fargo & Company initiated 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 on the stock. Zacks Research raised shares of Warner Bros. Discovery from a “strong sell” rating to a “hold” rating in a research report on Monday, June 1st. Huber Research raised shares of Warner Bros. Discovery from an “underweight” rating to an “overweight” rating in a research report on Monday. Finally, UBS Group increased their price objective on shares of Warner Bros. Discovery from $30.00 to $31.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $27.04.

Warner Bros. Discovery News Summary

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

Warner Bros. Discovery Price Performance

Shares of WBD opened at $26.24 on Friday. The firm has a market capitalization of $65.79 billion, a PE ratio of -37.49 and a beta of 1.54. The company’s 50-day moving average is $27.18 and its 200-day moving average is $27.40. Warner Bros. Discovery, Inc. has a fifty-two week low of $9.11 and a fifty-two week high of $30.00. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.73 and a quick ratio of 0.73.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($1.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($1.07). Warner Bros. Discovery had a negative return on equity of 4.77% and a negative net margin of 4.67%.The business had revenue of $8.89 billion for the quarter, compared to the consensus estimate of $8.89 billion. During the same period in the prior year, the business posted ($0.18) earnings per share. Warner Bros. Discovery’s revenue was down 1.0% compared to the same quarter last year. Equities analysts forecast that Warner Bros. Discovery, Inc. will post -0.93 EPS for the current year.

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.