Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Purchased by Advance Capital Management Inc.

Advance Capital Management Inc. increased its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 5.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,632 shares of the company’s stock after acquiring an additional 1,563 shares during the quarter. Advance Capital Management Inc.’s holdings in Warner Bros. Discovery were worth $372,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Aspire Private Capital LLC lifted its position in Warner Bros. Discovery by 33.2% in the fourth quarter. Aspire Private Capital LLC now owns 2,823 shares of the company’s stock valued at $26,762,040,000 after buying an additional 704 shares during the last quarter. Avantax Advisory Services Inc. lifted its position in Warner Bros. Discovery by 1.6% in the first quarter. Avantax Advisory Services Inc. now owns 50,356 shares of the company’s stock valued at $760,000 after buying an additional 770 shares during the last quarter. New York Life Investment Management LLC lifted its position in Warner Bros. Discovery by 0.3% in the first quarter. New York Life Investment Management LLC now owns 314,279 shares of the company’s stock valued at $4,746,000 after buying an additional 799 shares during the last quarter. Deseret Mutual Benefit Administrators lifted its position in Warner Bros. Discovery by 7.6% in the first quarter. Deseret Mutual Benefit Administrators now owns 11,371 shares of the company’s stock valued at $172,000 after buying an additional 804 shares during the last quarter. Finally, MV Capital Management Inc. lifted its position in Warner Bros. Discovery by 57.0% in the first quarter. MV Capital Management Inc. now owns 2,421 shares of the company’s stock valued at $37,000 after buying an additional 879 shares during the last quarter. Institutional investors and hedge funds own 58.26% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Barclays upped their target price on shares of Warner Bros. Discovery from $14.00 to $15.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 8th. Benchmark reissued a “buy” rating and set a $26.00 price target on shares of Warner Bros. Discovery in a research report on Monday, August 7th. Evercore ISI reduced their price target 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. Wolfe Research cut shares of Warner Bros. Discovery from an “outperform” rating to a “peer perform” rating in a research report on Friday, July 7th. Finally, Truist Financial reissued a “buy” rating and set a $17.00 price target on shares of Warner Bros. Discovery in a research report on Wednesday, September 6th. One analyst has rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.66.

Insider Buying and Selling at Warner Bros. Discovery

In related news, insider Gerhard Zeiler purchased 38,000 shares of the company’s stock in a transaction on Monday, August 7th. The shares were bought at an average cost of $14.09 per share, for a total transaction of $535,420.00. Following the completion of the purchase, the insider now directly owns 329,032 shares of the company’s stock, valued at approximately $4,636,060.88. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.60% of the stock is currently owned by insiders.

Warner Bros. Discovery Stock Up 0.7 %

WBD stock opened at $11.41 on Thursday. The company’s 50 day moving average price is $12.74 and its 200 day moving average price is $13.20. 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, Inc. has a fifty-two week low of $8.82 and a fifty-two week high of $16.34. The firm has a market capitalization of $27.81 billion, a price-to-earnings ratio of -4.13 and a beta of 1.51.

Warner Bros. Discovery (NASDAQ:WBD) last announced 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). The company had revenue of $10.36 billion during the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.11) earnings per share. On average, equities research analysts anticipate that Warner Bros. Discovery, Inc. will post -1.01 EPS for the current fiscal year.

Warner Bros. Discovery Company 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.