Geneos Wealth Management Inc. Increases Holdings in Warner Bros. Discovery, Inc. $WBD

Geneos Wealth Management Inc. increased its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 23.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,090 shares of the company’s stock after acquiring an additional 2,721 shares during the period. Geneos Wealth Management Inc.’s holdings in Warner Bros. Discovery were worth $151,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. WPG Advisers LLC acquired a new stake in Warner Bros. Discovery during the first quarter worth about $26,000. Financial Gravity Asset Management Inc. acquired a new stake in Warner Bros. Discovery during the first quarter worth about $27,000. North Capital Inc. acquired a new stake in Warner Bros. Discovery during the first quarter worth about $28,000. Smallwood Wealth Investment Management LLC acquired a new stake in Warner Bros. Discovery during the first quarter worth about $29,000. Finally, Ameriflex Group Inc. acquired a new stake in Warner Bros. Discovery during the fourth quarter worth about $30,000. 59.95% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Warner Bros. Discovery

In other Warner Bros. Discovery news, insider Bruce Campbell sold 150,000 shares of Warner Bros. Discovery stock in a transaction 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 sale, the insider owned 252,464 shares in the company, valued at $4,544,352. The trade was a 37.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Gunnar Wiedenfels sold 530,793 shares of Warner Bros. Discovery stock in a transaction on Monday, September 15th. The shares were sold at an average price of $19.50, for a total value of $10,350,463.50. Following the completion of the sale, the chief financial officer owned 1,141,150 shares in the company, valued at $22,252,425. This represents a 31.75% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 970,115 shares of company stock worth $17,818,490 over the last quarter. 1.80% of the stock is currently owned by company insiders.

Warner Bros. Discovery Stock Performance

Shares of Warner Bros. Discovery stock opened at $18.25 on Wednesday. Warner Bros. Discovery, Inc. has a one year low of $7.25 and a one year high of $19.59. The company has a market cap of $45.18 billion, a price-to-earnings ratio of 60.84, a PEG ratio of 2.59 and a beta of 1.59. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.04 and a current ratio of 1.04. The business’s 50 day moving average price is $12.70 and its 200 day moving average price is $10.76.

Warner Bros. Discovery (NASDAQ:WBD) last posted its earnings results on Thursday, August 7th. The company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $9.73 billion. During the same quarter in the previous year, the business earned ($4.07) earnings per share. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, research analysts predict that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Analyst Ratings Changes

WBD has been the topic of several analyst reports. Guggenheim reaffirmed a “buy” rating on shares of Warner Bros. Discovery in a report on Tuesday, June 10th. KeyCorp dropped their price objective on Warner Bros. Discovery from $18.00 to $16.00 and set an “overweight” rating on the stock in a report on Friday, August 8th. Bank of America raised their price objective on Warner Bros. Discovery from $14.00 to $16.00 and gave the company a “buy” rating in a report on Tuesday, July 1st. Morgan Stanley raised their price objective on Warner Bros. Discovery from $10.00 to $13.00 and gave the company an “equal weight” rating in a report on Wednesday, August 6th. Finally, Wells Fargo & Company raised their price objective on Warner Bros. Discovery from $13.00 to $14.00 and gave the company an “equal weight” rating in a report on Thursday, September 11th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and thirteen have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $13.25.

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.