Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Warner Bros. Discovery Inc shares valued at $124,900,000 were purchased by ADVANCE/NEWHOUSE PARTNERSHIP on Dec 14 ’23. At $12.49 per share, ADVANCE/NEWHOUSE PARTNERSHIP acquired 10,000,000 shares. The insider’s holdings grew to 14,158,459 shares worth approximately $122.33 million following the completion of this transaction.
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Also, Newhouse Steven O purchased 10,000,000 shares, netting a total of over 124,900,000 in proceeds. Following the buying of shares at $12.49 each, the insider now holds 14,158,459 shares.
Before that, Newhouse Steven O had sold 10,000,000 shares from its account. In a trade valued at $124,900,000, the Director traded Warner Bros. Discovery Inc shares for $12.49 each. Upon closing the transaction, the insider’s holdings decreased to 10,000,000 shares, worth approximately $1.59 billion.
As published in a research note from Rosenblatt on March 21, 2024, Warner Bros. Discovery Inc [WBD] has been rated up from a Sell to a Neutral and the price target has been revised to $10 from $7. Analysts at Wells Fargo downgraded the stock from ‘”an Overweight”‘ to ‘”an Equal weight”‘ outlook in a report released in late January. As of January 11, 2024, Redburn Atlantic has decreased its “Buy” rating to a “Neutral” for WBD. Earlier on October 06, 2023, Seaport Research Partners initiated its rating. Their recommendation was “a Buy” for WBD stock.
Analyzing WBD Stock Performance
During the last five days, there has been a drop of approximately -1.14%. Over the course of the year, Warner Bros. Discovery Inc shares have dropped approximately -24.08%. Shares of the company reached a 52-week high of $12.00 on 01/02/24 and a 52-week low of $8.02 on 03/05/24. A 50-day SMA is recorded $9.37, while a 200-day SMA reached $11.11. Nevertheless, trading volume fell to 27.74 million shares from 28.12 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 8.49, which, if violated, would cause prices to drop to 8.35. In the upper region, resistance lies at 8.72. The next price resistance is at 8.81. RSI (Relative Strength Index) is 45.30 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.15, which suggests the price will decrease in the coming days. Percent R is at 63.18%, indicating low price movement. Stochastics %K at holding 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 Feb 29, 2024 jumping by 11.92 million shares to 94.61 million. Data from Yahoo Finance shows that the short interest on Jan 31, 2024 was 82.69 million shares. A jump of 12.6% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.21 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.21.
