Optimize Financial Inc Invests $2.38 Million in Warner Bros. Discovery, Inc. $WBD

Optimize Financial Inc bought a new stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 121,920 shares of the company’s stock, valued at approximately $2,381,000. Warner Bros. Discovery comprises about 1.2% of Optimize Financial Inc’s holdings, making the stock its 2nd biggest holding.

Other large investors have also recently bought and sold shares of the company. Physician Wealth Advisors Inc. lifted its position in shares of Warner Bros. Discovery by 152.1% in the third quarter. Physician Wealth Advisors Inc. now owns 1,404 shares of the company’s stock worth $27,000 after purchasing an additional 847 shares in the last quarter. Grove Bank & Trust boosted 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 buying an additional 675 shares during the last quarter. Crews Bank & Trust grew its holdings in shares of Warner Bros. Discovery by 1,242.2% in the 3rd quarter. Crews Bank & Trust now owns 1,718 shares of the company’s stock valued at $34,000 after acquiring an additional 1,590 shares in the last quarter. Meeder Asset Management Inc. increased its position in shares of Warner Bros. Discovery by 183.9% in the third quarter. Meeder Asset Management Inc. now owns 1,891 shares of the company’s stock valued at $37,000 after acquiring an additional 1,225 shares during the last quarter. Finally, Cranbrook Wealth Management LLC raised its holdings in Warner Bros. Discovery by 73.8% during the third quarter. Cranbrook Wealth Management LLC now owns 1,929 shares of the company’s stock worth $38,000 after acquiring an additional 819 shares in the last quarter. Institutional investors and hedge funds own 59.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on WBD shares. Rothschild & Co Redburn raised Warner Bros. Discovery from a “neutral” rating to a “buy” rating and set a $28.00 price objective for the company in a report on Thursday, October 30th. Morgan Stanley set a $29.00 price objective on shares of Warner Bros. Discovery in a research report on Thursday, December 18th. Sanford C. Bernstein upped their target price on shares of Warner Bros. Discovery from $16.00 to $23.50 in a report on Friday, November 7th. Barrington Research downgraded Warner Bros. Discovery from an “outperform” rating to a “hold” rating in a research report on Friday, December 5th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $29.50 price objective on shares of Warner Bros. Discovery in a research report on Monday, December 8th. Two 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, the stock currently has an average rating of “Moderate Buy” and an average target price of $25.08.

Warner Bros. Discovery Price Performance

Shares of NASDAQ WBD opened at $27.19 on Wednesday. The firm has a market cap of $67.38 billion, a P/E ratio of 143.11 and a beta of 1.64. The business’s 50 day moving average is $27.87 and its 200-day moving average is $20.84. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.90. Warner Bros. Discovery, Inc. has a 1-year low of $7.52 and a 1-year high of $30.00.

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

Insider Activity

In related news, CAO Lori C. Locke sold 5,000 shares of the firm’s 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 transaction, the chief accounting officer directly owned 110,084 shares of the company’s stock, valued at approximately $3,040,520.08. This trade represents a 4.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Gunnar Wiedenfels sold 242,994 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer directly owned 918,940 shares of the company’s stock, valued at $27,108,730. This represents a 20.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 267,116 shares of company stock worth $7,781,731 over the last 90 days. 1.80% of the stock is currently owned by corporate insiders.

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.