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

Bank of New York Mellon Corp boosted its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 4.9% during the 3rd quarter, HoldingsChannel reports. The fund 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’s holdings in Warner Bros. Discovery were worth $259,886,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in WBD. JB Capital LLC boosted its position in shares of Warner Bros. Discovery by 4.2% during the third quarter. JB Capital LLC now owns 13,511 shares of the company’s stock worth $264,000 after buying an additional 547 shares during the period. Apollon Wealth Management LLC lifted its stake in Warner Bros. Discovery by 1.3% in the 3rd quarter. Apollon Wealth Management LLC now owns 46,314 shares of the company’s stock valued at $905,000 after acquiring an additional 581 shares in the last quarter. Miracle Mile Advisors LLC lifted its stake in Warner Bros. Discovery by 2.9% in the 3rd quarter. Miracle Mile Advisors LLC now owns 22,654 shares of the company’s stock valued at $442,000 after acquiring an additional 632 shares in the last quarter. TD Private Client Wealth LLC boosted its position in Warner Bros. Discovery by 40.9% during the 3rd quarter. TD Private Client Wealth LLC now owns 2,179 shares of the company’s stock worth $43,000 after acquiring an additional 633 shares during the last quarter. Finally, Grove Bank & Trust grew its stake in shares of Warner Bros. Discovery by 66.5% during the 3rd quarter. Grove Bank & Trust now owns 1,690 shares of the company’s stock worth $33,000 after acquiring an additional 675 shares in the last quarter. Institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Down 1.4%

Shares of WBD stock opened at $27.60 on Friday. Warner Bros. Discovery, Inc. has a 52-week low of $7.52 and a 52-week high of $30.00. The stock has a market cap of $68.39 billion, a price-to-earnings ratio of 145.27 and a beta of 1.56. The firm’s 50-day moving average is $27.60 and its 200-day moving average is $20.41. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.07 and a current ratio of 1.07.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). The business had revenue of $9.05 billion for the quarter, compared to analyst estimates of $9.17 billion. Warner Bros. Discovery had a return on equity of 1.34% and a net margin of 1.28%.Warner Bros. Discovery’s quarterly revenue was down 6.0% compared to the same quarter last year. During the same period last year, the firm earned $0.05 EPS. Sell-side analysts predict that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. UBS Group boosted their price objective on shares of Warner Bros. Discovery from $20.00 to $30.00 and gave the stock a “neutral” rating in a research report on Wednesday. Guggenheim cut shares of Warner Bros. Discovery from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $25.00 to $30.00 in a research report on Wednesday, January 14th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $29.50 price objective on shares of Warner Bros. Discovery in a research note on Monday, December 8th. Argus lifted their target price on Warner Bros. Discovery from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Raymond James Financial increased their price target on Warner Bros. Discovery from $22.00 to $25.00 and gave the company an “outperform” rating in a research report on Friday, November 7th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $24.85.

Insider Buying and Selling

In other Warner Bros. Discovery news, CFO Gunnar Wiedenfels sold 242,994 shares of Warner Bros. Discovery stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $29.50, for a total transaction of $7,168,323.00. Following the completion of the transaction, the chief financial officer directly owned 918,940 shares of the company’s stock, valued at $27,108,730. The trade was a 20.91% 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, CAO Lori C. Locke sold 5,000 shares of the stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $27.62, for a total transaction of $138,100.00. Following the completion of the transaction, the chief accounting officer directly owned 110,084 shares in the company, valued at $3,040,520.08. The trade was a 4.34% decrease in their ownership of the stock. 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 over the last three months. 1.90% of the stock is owned by insiders.

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.