Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Warner Bros. Discovery Inc shares valued at $830,000 were purchased by Zeiler Gerhard on May 13 ’24. At $8.30 per share, Zeiler Gerhard acquired 100,000 shares. The insider’s holdings grew to 908,130 shares worth approximately $7.54 million following the completion of this transaction.
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Also, ADVANCE/NEWHOUSE PARTNERSHIP 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 added 10,000,000 shares to its account. In a trade valued at $124,900,000, the Director bought Warner Bros. Discovery Inc shares for $12.49 each. Upon closing the transaction, the insider’s holdings increased to 10,000,000 shares, worth approximately $117.52 million.
As published in a research note from KeyBanc Capital Markets on May 10, 2024, Warner Bros. Discovery Inc [WBD] has been rated up from a Sector weight to an Overweight and the price target has been revised to $11. Analysts at Wolfe Research downgraded the stock from ‘”a Peer perform”‘ to ‘”an Underperform”‘ outlook in a report released in late April. As of March 21, 2024, Rosenblatt has increased its “Sell” rating to a “Neutral” for WBD. Earlier on January 29, 2024, Wells Fargo downgraded its rating. Their new recommendation was “an Equal weight” for WBD stock which previously was a “an Overweight”.
Analyzing WBD Stock Performance
During the last five days, there has been a surge of approximately 8.36%. Over the course of the year, Warner Bros. Discovery Inc shares have dropped approximately -27.07%. Shares of the company reached a 52-week high of $12.00 on 01/02/24 and a 52-week low of $7.34 on 05/01/24. A 50-day SMA is recorded $8.21, while a 200-day SMA reached $9.97. Nevertheless, trading volume fell to 22.99 million shares from 21.69 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 8.13, which, if violated, would cause prices to drop to 7.96. In the upper region, resistance lies at 8.42. The next price resistance is at 8.54. RSI (Relative Strength Index) is 54.33 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.26, which suggests the price will decrease in the coming days. Percent R is at 28.50%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
