Sigma Planning Corp decreased its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD – Free Report) by 35.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,354 shares of the company’s stock after selling 18,498 shares during the period. Sigma Planning Corp’s holdings in Warner Bros. Discovery were worth $519,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Perpetual Ltd purchased a new position in Warner Bros. Discovery during the 1st quarter valued at about $19,545,000. Coronation Fund Managers Ltd. lifted its position in Warner Bros. Discovery by 10,616.2% during the 1st quarter. Coronation Fund Managers Ltd. now owns 1,947,461 shares of the company’s stock valued at $29,407,000 after acquiring an additional 1,929,288 shares during the period. Cove Street Capital LLC lifted its position in Warner Bros. Discovery by 16.9% during the 1st quarter. Cove Street Capital LLC now owns 342,200 shares of the company’s stock valued at $5,167,000 after acquiring an additional 49,400 shares during the period. Meridian Investment Counsel Inc. raised its holdings in Warner Bros. Discovery by 22.9% in the first quarter. Meridian Investment Counsel Inc. now owns 25,739 shares of the company’s stock worth $389,000 after buying an additional 4,789 shares during the last quarter. Finally, Alan B. Lancz & Associates Inc. purchased a new position in Warner Bros. Discovery in the first quarter worth about $222,000. Institutional investors own 56.08% of the company’s stock.
Insider Activity at Warner Bros. Discovery
In other news, CFO Gunnar Wiedenfels purchased 15,000 shares of the company’s stock in a transaction on Thursday, May 25th. The stock was acquired at an average cost of $11.22 per share, for a total transaction of $168,300.00. Following the completion of the transaction, 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 legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Gunnar Wiedenfels purchased 15,000 shares of the company’s stock in a transaction on Thursday, May 25th. The stock was acquired at an average cost of $11.22 per share, for a total transaction of $168,300.00. Following the completion of the transaction, 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 legal filing with the SEC, which is accessible through this hyperlink. Also, insider Gerhard Zeiler purchased 38,000 shares of the company’s stock in a transaction on Monday, August 7th. The stock was purchased at an average price of $14.09 per share, with a total value of $535,420.00. Following the completion of the transaction, the insider now owns 329,032 shares of the company’s stock, valued at $4,636,060.88. The disclosure for this purchase can be found here. 1.60% of the stock is currently owned by company insiders.
Warner Bros. Discovery Stock Performance
Warner Bros. Discovery (NASDAQ:WBD – Get Free Report) last announced its earnings results on Thursday, August 3rd. The company reported ($0.51) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.12). The business had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.44 billion. Warner Bros. Discovery had a negative net margin of 16.04% and a positive return on equity of 1.27%. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.11) earnings per share. On average, research analysts anticipate that Warner Bros. Discovery, Inc. will post -0.81 earnings per share for the current year.
Analysts Set New Price Targets
WBD has been the subject of several recent analyst reports. Truist Financial decreased their target price 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, August 7th. Evercore ISI decreased their target price 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. Barclays lifted their target price on shares of Warner Bros. Discovery from $14.00 to $15.00 and gave the stock an “equal weight” rating in a report on Tuesday. Morgan Stanley reaffirmed an “equal weight” rating and issued a $15.00 target price on shares of Warner Bros. Discovery in a report on Friday, August 4th. Finally, Benchmark reaffirmed a “buy” rating and issued a $26.00 target price on shares of Warner Bros. Discovery in a report on Monday, August 7th. One 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, the stock has an average rating of “Moderate Buy” and an average price target of $20.38.
Read Our Latest Analysis on Warner Bros. Discovery
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.
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