The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Warner Bros. Discovery Inc. shares valued at $1,095,275 were purchased by YANG GEOFFREY Y on May 05. At $18.79 per share, YANG GEOFFREY Y acquired 58,296 shares. The insider’s holdings grew to 35,653 shares worth approximately $0.62 million following the completion of this transaction.
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Also, Di Piazza Samuel A Jr. purchased 2,700 shares, netting a total of over 50,001 in proceeds. Following the buying of shares at $18.52 each, the insider now holds 2,700 shares.
Before that, Di Piazza Samuel A Jr. had added 13,500 shares to its account. In a trade valued at $249,021, the Director bought Warner Bros. Discovery Inc. shares for $18.45 each. Upon closing the transaction, the insider’s holdings increased to 13,500 shares, worth approximately $0.75 million.
Analysts at The Benchmark Company started covering the stock with ‘”a Buy”‘ outlook in a report released in late June.
Analyzing WBD’s Price Performance
On Thursday, Warner Bros. Discovery Inc. [NASDAQ: WBD] rose 4.61% to $17.48. The stock’s lowest price that day was $16.51, but it reached a high of $17.65 in the same session. During the last five days, there has been a surge of approximately 12.12%. Over the course of the year, Warner Bros. Discovery Inc. shares have dropped approximately -25.74%. Nevertheless, trading volume fell to 32.77 million shares from 22.88 million shares the previous day.
Support And Resistance Levels for Warner Bros. Discovery Inc. (WBD)
According to the 24-hour chart, there is a support level at 16.78, which, if violated, would cause prices to drop to 16.07. In the upper region, resistance lies at 17.92. The next price resistance is at 18.35. RSI (Relative Strength Index) is 70.43 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.58, which suggests the price will increase in the coming days. Percent R is at 4.43%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Is Warner Bros. Discovery Inc. subject to short interest?
Stocks of Warner Bros. Discovery Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 6.09 million shares to 61.06 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 54.97 million shares. A jump of 9.97% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.74 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.74.
Which companies own the most shares of Warner Bros. Discovery Inc. (WBD)?
According to The Vanguard Group, Inc. filings, the company currently owns 50,812,483 shares, which is about 2.09% of the total WBD shares outstanding. The investor’s shares have appreciated by 1,119,678 from its previous 13-F filing of 49692805.0 shares. With the completion of the sale transaction, SSgA Funds Management, Inc.’s stake is now worth $378,748,312. BlackRock Fund Advisors reduced a -2.52% interest valued at $347.05 million while Hotchkis & Wiley Capital Manageme sold a -2,744,010 stake. A total of 9,316,093 shares of Warner Bros. Discovery Inc. were sold by Laurion Capital Management LP during the quarter, and 1,112,249 were bought by ClearBridge Investments LLC. In its current portfolio, Southeastern Asset Management, In holds 11,942,540 shares valued at $160.27 million.
In terms of Warner Bros. Discovery Inc. share price expectations, FactSet research, analysts set an average price target of $27.22 in the next 12 months, up nearly 49.61% from the previous closing price of $16.71. Analysts anticipate Warner Bros. Discovery Inc. stock to reach $48.00 by 2022, with the lowest price target being $9.00. In spite of this, 21 analysts ranked Warner Bros. Discovery Inc. stock as an Overweight at the end of 2022. On May 12, 2022, Cowen assigned a price target of “an Outperform” to the stock and upgraded coverage with a $24.