Warner Bros. Discovery, Inc. $WBD Shares Bought by Concurrent Investment Advisors LLC

Key Points

• Concurrent Investment Advisors LLC boosted its stake in Warner Bros. Discovery by 521% in Q4, adding 111,442 shares to hold 132,833 shares worth about $3.83 million.
• Heavy insider selling has occurred recently — insiders disposed of 8,206,827 shares totaling $230.7 million over the last three months, including large sales by Paul A. Gould and Bruce Campbell, leaving insiders with 1.9% ownership.
• Analysts have an average rating of Hold with a $26.30 target; WBD reported an EPS miss (-$0.10 vs. $0.09) but revenue beat at $9.46 billion and the stock trades near its 52‑week high of $30.00.

Concurrent Investment Advisors LLC lifted its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 521.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 132,833 shares of the company's stock after buying an additional 111,442 shares during the period. Concurrent Investment Advisors LLC's holdings in Warner Bros. Discovery were worth $3,828,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. JFS Wealth Advisors LLC increased its holdings in shares of 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 buying an additional 378 shares during the last quarter. Salomon & Ludwin LLC increased its holdings in shares of 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 buying an additional 419 shares during the last quarter. Optas LLC increased its holdings in shares of 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 buying an additional 435 shares during the last quarter. Armstrong Advisory Group Inc. increased its holdings in shares of Warner Bros. Discovery by 7.7% during the 4th quarter. Armstrong Advisory Group Inc. now owns 6,095 shares of the company's stock worth $176,000 after buying an additional 436 shares during the last quarter. Finally, Concord Wealth Partners increased its holdings in shares of Warner Bros. Discovery by 49.9% during the 3rd quarter. Concord Wealth Partners now owns 1,321 shares of the company's stock worth $26,000 after buying an additional 440 shares during the last quarter. Institutional investors and hedge funds own 59.95% of the company's stock.

Wall Street Analysts Forecast Growth

WBD has been the subject of a number of recent analyst reports. UBS Group raised their price target on shares of Warner Bros. Discovery from $20.00 to $30.00 and gave the stock a "neutral" rating in a report on Wednesday, January 28th. KeyCorp restated an "overweight" rating on shares of Warner Bros. Discovery in a report on Friday. Raymond James Financial restated an "underperform" rating on shares of Warner Bros. Discovery in a report on Friday, February 27th. Rothschild & Co Redburn set a $31.00 price target on shares of Warner Bros. Discovery and gave the stock a "neutral" rating in a report on Tuesday, February 17th. Finally, Huber Research downgraded shares of Warner Bros. Discovery from a "strong-buy" rating to a "strong sell" rating in a report on Friday, February 27th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, Warner Bros. Discovery presently has an average rating of "Hold" and an average target price of $26.30.

Insider Buying and Selling

In other Warner Bros. Discovery news, Director Paul A. Gould sold 600,000 shares of the firm's stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $27.35, for a total value of $16,410,000.00. Following the completion of the transaction, the director owned 244,357 shares of the company's stock, valued at $6,683,163.95. This trade represents a 71.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Bruce Campbell sold 1,580,331 shares of the firm's stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $28.00, for a total transaction of $44,249,268.00. Following the completion of the transaction, the insider directly owned 690,028 shares of the company's stock, valued at $19,320,784. This represents a 69.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 8,206,827 shares of company stock worth $230,674,025 over the last three months. 1.90% of the stock is owned by insiders.

Warner Bros. Discovery Stock Performance

Shares of WBD stock opened at $26.82 on Tuesday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.87. Warner Bros. Discovery, Inc. has a 52 week low of $8.06 and a 52 week high of $30.00. The stock has a market capitalization of $66.51 billion, a PE ratio of 92.49 and a beta of 1.63. The firm has a 50 day moving average of $27.69 and a two-hundred day moving average of $26.27.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued its quarterly earnings results on Thursday, February 26th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of $0.09 by ($0.19). Warner Bros. Discovery had a net margin of 1.95% and a return on equity of 1.98%. The business had revenue of $9.46 billion during the quarter, compared to analysts' expectations of $9.33 billion. During the same period in the prior year, the business earned ($0.20) EPS. The business's quarterly revenue was down 5.7% on a year-over-year basis. On average, research analysts predict that Warner Bros. Discovery, Inc. will post -0.1 EPS for the current fiscal 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.

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