Warner Bros. Discovery (WBD)

May 2, 2022Trade Ideas

Warner Bros. Discovery (WBD) has been beaten silly.

And insiders are buying.

Over the last few days, four WBD executives bought more than $2.5 million worth of stock. President and CEO David Zaslav bought 50,200 shares for $1 million on April 27. He now owns 4.1 million WBD shares. Chief Financial Officer Gunnar Wiedenfels paid $500,000 on April 27 for 25,000 shares. He now owns 481,527 shares.

Director Robert Bennett paid $1 million for 53,000 shares. David Leavy, chief corporate affairs officer paid $126,000 on April 28 for just under 6,900 shares.

In addition, as noted by Barron’s, “Credit Suisse analyst Douglas Mitchelson wrote in an April 27 research report that he rated Warner Bros. Discovery stock at Outperform because the company is ‘a global content leader with scale, and the merger can drive improvement in its streaming position, while synergies minimize the downside risk from its linear business over time.’ Mitchelson has a $52 price target—more than twice the current market price.”

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