Vestmark Advisory Solutions Inc. Raises Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Posted by Defense World Staff on Aug 18th, 2023

Vestmark Advisory Solutions Inc. lifted its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD – Free Report) by 4.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 27,954 shares of the company’s stock after buying an additional 1,105 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in Warner Bros. Discovery were worth $422,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Manchester Capital Management LLC lifted its holdings in Warner Bros. Discovery by 274.6% in the 1st quarter. Manchester Capital Management LLC now owns 1,817 shares of the company’s stock worth $27,000 after buying an additional 1,332 shares in the last quarter. GAM Holding AG lifted its stake in shares of Warner Bros. Discovery by 0.5% in the first quarter. GAM Holding AG now owns 481,511 shares of the company’s stock worth $7,271,000 after acquiring an additional 2,179 shares in the last quarter. Seizert Capital Partners LLC grew its stake in Warner Bros. Discovery by 4.1% during the 1st quarter. Seizert Capital Partners LLC now owns 3,748,236 shares of the company’s stock valued at $56,598,000 after purchasing an additional 147,728 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in Warner Bros. Discovery during the 1st quarter worth approximately $1,489,000. Finally, Russell Investments Group Ltd. boosted its stake in shares of Warner Bros. Discovery by 1.8% during the 1st quarter. Russell Investments Group Ltd. now owns 1,519,759 shares of the company’s stock valued at $22,888,000 after buying an additional 26,553 shares during the last quarter. 56.08% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on WBD shares. Evercore ISI dropped 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 research note on Monday, July 24th. Wolfe Research lowered shares of Warner Bros. Discovery from an “outperform” rating to a “peer perform” rating in a research note on Friday, July 7th. Barclays upped their price objective on Warner Bros. Discovery from $14.00 to $15.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 8th. Truist Financial dropped their price target on Warner Bros. Discovery from $18.00 to $17.00 and set a “buy” rating on the stock in a research report on Monday, August 7th. Finally, Benchmark restated a “buy” rating and set a $26.00 price objective on shares of Warner Bros. Discovery in a research note on Monday, August 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $20.38.

Get Our Latest Stock Analysis on Warner Bros. Discovery

Warner Bros. Discovery Price Performance

Shares of Warner Bros. Discovery stock opened at $12.76 on Friday. Warner Bros. Discovery, Inc. has a 52 week low of $8.82 and a 52 week high of $16.34. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.95. The stock has a market cap of $31.10 billion, a PE ratio of -4.62 and a beta of 1.52. The company’s 50-day moving average price is $12.99 and its two-hundred day moving average price is $13.61.

Warner Bros. Discovery (NASDAQ:WBD – Get Free Report) last released its 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). The business had revenue of $10.36 billion for the quarter, compared to analyst estimates 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 firm’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the prior year, the company earned ($0.11) earnings per share. As a group, sell-side analysts anticipate that Warner Bros. Discovery, Inc. will post -0.81 EPS for the current fiscal year.

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.