Callan Family Office LLC Acquires New Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Callan Family Office LLC acquired a new stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 21,020 shares of the company’s stock, valued at approximately $222,000.

A number of other large investors have also added to or reduced their stakes in the business. Golden State Equity Partners increased its position in Warner Bros. Discovery by 6.5% during the 4th quarter. Golden State Equity Partners now owns 16,124 shares of the company’s stock valued at $170,000 after purchasing an additional 986 shares during the period. Deseret Mutual Benefit Administrators increased its position in Warner Bros. Discovery by 12.0% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 9,925 shares of the company’s stock valued at $105,000 after purchasing an additional 1,066 shares during the period. Cornerstone Wealth Management LLC increased its position in Warner Bros. Discovery by 7.4% during the 4th quarter. Cornerstone Wealth Management LLC now owns 15,995 shares of the company’s stock valued at $169,000 after purchasing an additional 1,101 shares during the period. Avestar Capital LLC increased its position in Warner Bros. Discovery by 9.4% during the 4th quarter. Avestar Capital LLC now owns 14,337 shares of the company’s stock valued at $152,000 after purchasing an additional 1,228 shares during the period. Finally, Commerce Bank grew its position in shares of Warner Bros. Discovery by 2.4% during the 3rd quarter. Commerce Bank now owns 55,963 shares of the company’s stock worth $462,000 after buying an additional 1,286 shares during the period. Institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Trading Down 2.1 %

NASDAQ WBD opened at $10.37 on Wednesday. The firm has a market capitalization of $25.46 billion, a P/E ratio of -2.26, a PEG ratio of 8.64 and a beta of 1.48. The business has a fifty day simple moving average of $10.39 and a 200 day simple moving average of $9.43. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.30). The company had revenue of $10.03 billion during the quarter, compared to analysts’ expectations of $10.16 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. On average, analysts predict that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently commented on WBD. Bank of America reaffirmed a “buy” rating and set a $14.00 price objective on shares of Warner Bros. Discovery in a research report on Thursday, December 12th. Barclays raised their price objective on shares of Warner Bros. Discovery from $10.00 to $12.00 and gave the stock an “equal weight” rating in a research report on Friday, February 28th. Benchmark reaffirmed a “buy” rating and set a $18.00 price objective on shares of Warner Bros. Discovery in a research report on Wednesday, February 26th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $13.00 price objective on shares of Warner Bros. Discovery in a research report on Friday, March 7th. Finally, Guggenheim raised their price objective on shares of Warner Bros. Discovery from $11.00 to $12.50 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Warner Bros. Discovery currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.91.

Insider Activity at Warner Bros. Discovery

In other Warner Bros. Discovery news, insider Savalle Sims sold 169,436 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $12.36, for a total value of $2,094,228.96. Following the completion of the transaction, the insider now owns 599,317 shares in the company, valued at $7,407,558.12. This represents a 22.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of Warner Bros. Discovery stock in a transaction on Monday, March 3rd. The stock was acquired at an average price of $11.41 per share, with a total value of $197,917.86. Following the purchase, the director now directly owns 159,932 shares in the company, valued at approximately $1,824,824.12. This trade represents a 12.17 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.80% of the stock is currently owned by insiders.

Warner Bros. Discovery 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.