Integrated Wealth Concepts LLC boosted its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD – Free Report) by 130.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 93,122 shares of the company’s stock after buying an additional 52,696 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in Warner Bros. Discovery were worth $1,406,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in the business. Heritage Wealth Management LLC grew its position in Warner Bros. Discovery by 170.7% during the 4th quarter. Heritage Wealth Management LLC now owns 2,634 shares of the company’s stock worth $25,000 after purchasing an additional 1,661 shares in the last quarter. Piscataqua Savings Bank purchased a new position in Warner Bros. Discovery during the 4th quarter worth approximately $28,000. Harvest Fund Management Co. Ltd purchased a new position in Warner Bros. Discovery during the 4th quarter worth approximately $32,000. Oakworth Capital Inc. grew its position in Warner Bros. Discovery by 378.9% during the 1st quarter. Oakworth Capital Inc. now owns 2,107 shares of the company’s stock worth $32,000 after purchasing an additional 1,667 shares in the last quarter. Finally, Center for Financial Planning Inc. purchased a new position in Warner Bros. Discovery during the 4th quarter worth approximately $33,000. Institutional investors and hedge funds own 56.08% of the company’s stock.
Warner Bros. Discovery Stock Up 4.1 %
Warner Bros. Discovery stock opened at $12.79 on Monday. The firm has a market cap of $31.16 billion, a price-to-earnings ratio of -3.41 and a beta of 1.51. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.84 and a quick ratio of 0.84. Warner Bros. Discovery, Inc. has a fifty-two week low of $8.82 and a fifty-two week high of $17.65. The firm has a fifty day moving average price of $12.53 and a two-hundred day moving average price of $13.61.
Warner Bros. Discovery (NASDAQ:WBD – Get Free Report) last announced its quarterly earnings data on Friday, May 5th. The company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.03). The company had revenue of $10.70 billion for the quarter, compared to analyst estimates of $10.63 billion. Warner Bros. Discovery had a negative net margin of 21.51% and a positive return on equity of 3.24%. As a group, analysts forecast that Warner Bros. Discovery, Inc. will post -0.7 earnings per share for the current year.
Analyst Upgrades and Downgrades
WBD has been the topic of several research analyst reports. Evercore ISI lowered their price objective on shares of Warner Bros. Discovery from $25.00 to $20.00 and set an “outperform” rating on the stock in a research report on Monday, July 24th. Barrington Research upgraded shares of Warner Bros. Discovery from a “market perform” rating to an “outperform” rating and set a $18.00 price target on the stock in a report on Tuesday, May 16th. 22nd Century Group restated a “maintains” rating on shares of Warner Bros. Discovery in a report on Monday, May 8th. Truist Financial initiated coverage on shares of Warner Bros. Discovery in a report on Monday, April 10th. They set a “buy” rating and a $19.00 price target on the stock. Finally, Wolfe Research cut shares of Warner Bros. Discovery from an “outperform” rating to a “peer perform” rating in a report on Friday, July 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Warner Bros. Discovery has a consensus rating of “Moderate Buy” and a consensus price target of $20.28.
Insider Activity
In other Warner Bros. Discovery news, CFO Gunnar Wiedenfels bought 15,000 shares of the stock in a transaction that occurred on Thursday, May 25th. The shares were acquired at an average price of $11.22 per share, with a total value of $168,300.00. Following the completion of the purchase, the chief financial officer now directly owns 738,849 shares in the company, valued at approximately $8,289,885.78. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.60% of the stock is owned by company insiders.
Warner Bros. Discovery Profile
Warner Bros. Discovery, Inc, operates a media and entertainment company worldwide. It operates through three segments: Studios, Network, and DTC. The Studios segment produces and releases feature films for initial exhibition in theaters; produces and lienses television programs to third parties and networks and direct-to-consumer services; distributes films and television programs to various third parties and internal television; and offers streaming services and distribution through the home entertainment market, themed experience licensing, and interactive gaming.