Prime Capital Investment Advisors LLC Has $207,000 Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Posted by Defense World Staff on Aug 9th, 2023

Prime Capital Investment Advisors LLC cut its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD – Free Report) by 51.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,719 shares of the company’s stock after selling 14,352 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Warner Bros. Discovery were worth $207,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Newport Trust Co grew its position in Warner Bros. Discovery by 15.4% in the 4th quarter. Newport Trust Co now owns 51,205,017 shares of the company’s stock worth $485,424,000 after purchasing an additional 6,850,256 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Warner Bros. Discovery by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 47,773,479 shares of the company’s stock worth $452,117,000 after acquiring an additional 686,036 shares during the period. Moneta Group Investment Advisors LLC lifted its holdings in shares of Warner Bros. Discovery by 124,559.2% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 28,075,738 shares of the company’s stock worth $266,158,000 after acquiring an additional 28,053,216 shares during the period. Sessa Capital IM L.P. lifted its holdings in shares of Warner Bros. Discovery by 5.4% during the 4th quarter. Sessa Capital IM L.P. now owns 23,450,633 shares of the company’s stock worth $222,312,000 after acquiring an additional 1,195,666 shares during the period. Finally, Norges Bank bought a new position in shares of Warner Bros. Discovery during the 4th quarter worth about $196,222,000. 56.08% of the stock is currently owned by institutional investors and hedge funds.

Warner Bros. Discovery Stock Performance

WBD opened at $14.42 on Wednesday. Warner Bros. Discovery, Inc. has a 1-year low of $8.82 and a 1-year high of $16.34. The firm has a 50-day moving average price of $12.79 and a two-hundred day moving average price of $13.63. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.81 and a current ratio of 0.81.

Warner Bros. Discovery (NASDAQ:WBD – Get Free Report) last issued its quarterly earnings results on Thursday, August 3rd. The company reported ($0.51) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.12). Warner Bros. Discovery had a positive return on equity of 1.27% and a negative net margin of 16.04%. The business had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.44 billion. During the same quarter in the prior year, the firm earned ($0.11) EPS. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. As a group, analysts expect that Warner Bros. Discovery, Inc. will post -0.8 earnings per share for the current year.

Insider Transactions at Warner Bros. Discovery

In other Warner Bros. Discovery news, insider Gerhard Zeiler purchased 38,000 shares of the stock in a transaction dated Monday, August 7th. The stock was bought at an average price of $14.09 per share, for a total transaction of $535,420.00. Following the transaction, the insider now directly owns 329,032 shares in the company, valued at $4,636,060.88. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Gerhard Zeiler acquired 38,000 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The stock was purchased at an average price of $14.09 per share, for a total transaction of $535,420.00. Following the completion of the acquisition, the insider now owns 329,032 shares in the company, valued at $4,636,060.88. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Gunnar Wiedenfels acquired 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 25th. The shares were purchased at an average price of $11.22 per share, with a total value of $168,300.00. Following the acquisition, the chief financial officer now owns 738,849 shares of the company’s stock, valued at approximately $8,289,885.78. The disclosure for this purchase can be found here. 1.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on WBD. Wolfe Research downgraded shares of Warner Bros. Discovery from an “outperform” rating to a “peer perform” rating in a report on Friday, July 7th. Morgan Stanley reissued an “equal weight” rating and set a $15.00 price target on shares of Warner Bros. Discovery in a report on Friday, August 4th. Evercore ISI cut their price target on shares of Warner Bros. Discovery from $25.00 to $20.00 and set an “outperform” rating for the company in a report on Monday, July 24th. Truist Financial cut their price target on shares of Warner Bros. Discovery from $18.00 to $17.00 and set a “buy” rating for the company in a report on Monday. Finally, 22nd Century Group reissued a “maintains” rating on shares of Warner Bros. Discovery in a report on Monday, May 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Warner Bros. Discovery currently has a consensus rating of “Moderate Buy” and an average price target of $20.38.

View Our Latest Research Report on Warner Bros. Discovery

About Warner Bros. Discovery

(Free Report)

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.