Bank of New York Mellon Corp Has $259.89 Million Stake in Warner Bros. Discovery, Inc. $WBD

Bank of New York Mellon Corp lifted its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 4.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,307,032 shares of the company’s stock after acquiring an additional 621,751 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.54% of Warner Bros. Discovery worth $259,886,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Brighton Jones LLC grew its holdings in shares of Warner Bros. Discovery by 304.9% during the fourth 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 increased its holdings in shares of Warner Bros. Discovery by 50.5% in the first quarter. NewEdge Advisors LLC now owns 63,254 shares of the company’s stock valued at $679,000 after purchasing an additional 21,228 shares in the last quarter. Empowered Funds LLC raised its position in Warner Bros. Discovery by 6.2% in the 1st quarter. Empowered Funds LLC now owns 65,082 shares of the company’s stock worth $698,000 after purchasing an additional 3,779 shares during the last quarter. Focus Partners Wealth lifted its holdings in Warner Bros. Discovery by 91.6% during the 1st quarter. Focus Partners Wealth now owns 116,821 shares of the company’s stock worth $1,254,000 after buying an additional 55,837 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its position in Warner Bros. Discovery by 10.9% in the 2nd quarter. Farther Finance Advisors LLC now owns 13,148 shares of the company’s stock valued at $151,000 after buying an additional 1,295 shares during the last quarter. 59.95% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Guggenheim downgraded Warner Bros. Discovery from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $25.00 to $30.00 in a research report on Wednesday, January 14th. Moffett Nathanson upped their target price on shares of Warner Bros. Discovery from $23.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Barrington Research lowered shares of Warner Bros. Discovery from an “outperform” rating to a “hold” rating in a research note on Friday, December 5th. The Goldman Sachs Group boosted their price target on shares of Warner Bros. Discovery from $13.00 to $14.75 and gave the stock a “buy” rating in a research note on Friday, November 7th. Finally, TD Cowen increased their price objective on shares of Warner Bros. Discovery from $14.00 to $22.00 in a report on Friday, November 7th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $24.85.

Insider Buying and Selling at Warner Bros. Discovery

In other news, CAO Lori C. Locke sold 4,122 shares of the firm’s stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $28.92, for a total transaction of $119,208.24. Following the sale, the chief accounting officer owned 100,962 shares of the company’s stock, valued at $2,919,821.04. This trade represents a 3.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Gunnar Wiedenfels sold 242,994 shares of Warner Bros. Discovery stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $29.50, for a total value of $7,168,323.00. Following the transaction, the chief financial officer owned 918,940 shares in the company, valued at $27,108,730. This trade represents a 20.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 267,116 shares of company stock worth $7,781,731 in the last ninety days. 1.90% of the stock is currently owned by company insiders.

Warner Bros. Discovery Stock Performance

Shares of NASDAQ:WBD opened at $27.60 on Friday. The firm’s 50 day simple moving average is $27.60 and its 200 day simple moving average is $20.41. 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 market capitalization of $68.39 billion, a price-to-earnings ratio of 145.27 and a beta of 1.56. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.07 and a quick ratio of 1.07.

Warner Bros. Discovery (NASDAQ:WBD) last issued 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). The firm had revenue of $9.05 billion during the quarter, compared to the consensus estimate of $9.17 billion. Warner Bros. Discovery had a net margin of 1.28% and a return on equity of 1.34%. The firm’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.05 EPS. As a group, sell-side analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current 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.