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

Key Points

• Cibc World Market Inc. boosted its Warner Bros. Discovery stake by 884.1% in the fourth quarter, ending with 261,568 shares valued at about $7.54 million.
• Other institutional investors also increased their WBD holdings, and 59.95% of the stock is now owned by institutions and hedge funds.
• Insiders have been selling shares, including director Fazal F. Merchant and insider Bruce Campbell, while analysts still rate the stock a Hold overall with an average price target of $27.04.

Cibc World Market Inc. lifted its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 884.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 261,568 shares of the company's stock after purchasing an additional 234,988 shares during the quarter. Cibc World Market Inc.'s holdings in Warner Bros. Discovery were worth $7,538,000 as of its most recent SEC filing.

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

Insider Activity

In other news, Director Fazal F. Merchant sold 35,000 shares of the firm's stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $27.48, for a total value of $961,800.00. Following the completion of the transaction, the director owned 95,539 shares in the company, valued at $2,625,411.72. This trade represents a 26.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Bruce Campbell sold 41,784 shares of the firm's stock in a transaction dated 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 completion of the transaction, the insider owned 604,666 shares of the company's stock, valued at $16,821,808.12. The trade was a 6.46% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 676,784 shares of company stock worth $18,534,231 in the last quarter. Corporate insiders own 1.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on WBD. Benchmark reiterated a "hold" rating on shares of Warner Bros. Discovery in a report on Friday, February 27th. Rothschild & Co Redburn set a $31.00 target price on Warner Bros. Discovery and gave the stock a "neutral" rating in a report on Tuesday, February 17th. TD Cowen increased their target price on Warner Bros. Discovery from $22.00 to $26.00 and gave the stock a "hold" rating in a report on Friday, February 27th. Arete Research reiterated a "neutral" rating and set a $31.25 target price on shares of Warner Bros. Discovery in a report on Friday, February 27th. Finally, Zacks Research upgraded Warner Bros. Discovery from a "strong sell" rating to a "hold" rating in a report on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have issued 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 has a consensus rating of "Hold" and an average price target of $27.04.

Key Headlines Impacting Warner Bros. Discovery

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 NASDAQ WBD opened at $26.24 on Friday. The stock has a market capitalization of $65.79 billion, a price-to-earnings ratio of -37.49 and a beta of 1.54. The business has a 50-day moving average of $27.18 and a 200-day moving average of $27.40. 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, Inc. has a fifty-two week low of $9.11 and a fifty-two week high of $30.00.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced its quarterly earnings data 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). The company had revenue of $8.89 billion during the quarter, compared to the consensus estimate of $8.89 billion. Warner Bros. Discovery had a negative net margin of 4.67% and a negative return on equity of 4.77%. Warner Bros. Discovery's revenue was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.18) EPS. As a group, sell-side analysts predict that Warner Bros. Discovery, Inc. will post -0.93 earnings per share for the current fiscal year.

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.

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