Compass Wealth Management LLC Takes $1.86 Million Position in Warner Bros. Discovery, Inc. $WBD

Compass Wealth Management LLC purchased a new position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 95,093 shares of the company’s stock, valued at approximately $1,857,000.

Several other institutional investors have also recently added to or reduced their stakes in WBD. Brighton Jones LLC increased its position in shares of Warner Bros. Discovery by 304.9% in the 4th quarter. Brighton Jones LLC now owns 68,950 shares of the company’s stock worth $729,000 after purchasing an additional 51,920 shares during the last quarter. NewEdge Advisors LLC grew its stake in Warner Bros. Discovery by 50.5% in the first quarter. NewEdge Advisors LLC now owns 63,254 shares of the company’s stock worth $679,000 after purchasing an additional 21,228 shares in the last quarter. Empowered Funds LLC increased its holdings in Warner Bros. Discovery by 6.2% in the first quarter. Empowered Funds LLC now owns 65,082 shares of the company’s stock valued at $698,000 after buying an additional 3,779 shares during the last quarter. Focus Partners Wealth raised its stake in Warner Bros. Discovery by 91.6% during the first quarter. Focus Partners Wealth now owns 116,821 shares of the company’s stock valued at $1,254,000 after buying an additional 55,837 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in Warner Bros. Discovery by 10.9% during the 2nd quarter. Farther Finance Advisors LLC now owns 13,148 shares of the company’s stock worth $151,000 after buying an additional 1,295 shares during the last quarter. 59.95% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Gunnar Wiedenfels sold 242,994 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $29.50, for a total value of $7,168,323.00. Following the sale, the chief financial officer directly owned 918,940 shares in the company, valued at $27,108,730. This trade represents a 20.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Lori C. Locke sold 5,000 shares of the business’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $27.62, for a total value of $138,100.00. Following the transaction, the chief accounting officer owned 110,084 shares of the company’s stock, valued at $3,040,520.08. This trade represents a 4.34% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 489,326 shares of company stock valued at $12,781,456 over the last three months. Corporate insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on WBD shares. Redburn Partners set a $28.00 price target on Warner Bros. Discovery in a research report on Thursday, October 30th. Rothschild & Co Redburn raised shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and set a $28.00 target price on the stock in a report on Thursday, October 30th. Raymond James Financial raised their price target on shares of Warner Bros. Discovery from $22.00 to $25.00 and gave the stock an “outperform” rating in a research report on Friday, November 7th. Guggenheim downgraded shares of Warner Bros. Discovery from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $25.00 to $30.00 in a research report on Wednesday, January 14th. Finally, Morgan Stanley set a $29.00 target price on shares of Warner Bros. Discovery in a report on Thursday, December 18th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $24.75.

Warner Bros. Discovery Stock Down 1.2%

WBD stock opened at $28.24 on Tuesday. The stock has a market cap of $69.98 billion, a PE ratio of 148.64 and a beta of 1.56. The firm’s 50-day simple moving average is $27.32 and its 200 day simple moving average is $20.19. Warner Bros. Discovery, Inc. has a fifty-two week low of $7.52 and a fifty-two week high of $30.00. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.90.

Warner Bros. Discovery (NASDAQ:WBD) last posted its earnings results on Thursday, November 6th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.02). Warner Bros. Discovery had a return on equity of 1.34% and a net margin of 1.28%.The firm had revenue of $9.05 billion during the quarter, compared to the consensus estimate of $9.17 billion. During the same quarter last year, the company posted $0.05 EPS. Warner Bros. Discovery’s revenue for the quarter was down 6.0% on a year-over-year basis. As a group, sell-side analysts predict that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

About Warner Bros. Discovery

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.