M&R Capital Management Inc. lessened its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD – Free Report) by 3.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 139,073 shares of the company’s stock after selling 4,385 shares during the quarter. M&R Capital Management Inc.’s holdings in Warner Bros. Discovery were worth $1,744,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in WBD. Resources Investment Advisors LLC. grew its position in Warner Bros. Discovery by 20.8% during the first quarter. Resources Investment Advisors LLC. now owns 36,733 shares of the company’s stock valued at $555,000 after acquiring an additional 6,316 shares during the period. Vestmark Advisory Solutions Inc. grew its holdings in shares of Warner Bros. Discovery by 4.1% during the 1st quarter. Vestmark Advisory Solutions Inc. now owns 27,954 shares of the company’s stock worth $422,000 after purchasing an additional 1,105 shares during the period. Avantax Planning Partners Inc. acquired a new stake in Warner Bros. Discovery during the 4th quarter worth approximately $111,000. Summit Trail Advisors LLC raised its holdings in Warner Bros. Discovery by 13.6% in the first quarter. Summit Trail Advisors LLC now owns 14,967 shares of the company’s stock valued at $226,000 after buying an additional 1,789 shares during the period. Finally, Ballentine Partners LLC lifted its position in Warner Bros. Discovery by 11.7% during the first quarter. Ballentine Partners LLC now owns 14,731 shares of the company’s stock valued at $222,000 after buying an additional 1,541 shares in the last quarter. 58.26% of the stock is owned by hedge funds and other institutional investors.
Warner Bros. Discovery Stock Up 1.0 %
Shares of NASDAQ:WBD traded up $0.11 during midday trading on Thursday, reaching $11.52. The company had a trading volume of 2,572,275 shares, compared to its average volume of 20,408,398. The stock has a market capitalization of $28.08 billion, a P/E ratio of -4.13 and a beta of 1.51. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.81 and a quick ratio of 0.81. Warner Bros. Discovery, Inc. has a one year low of $8.82 and a one year high of $16.34. The stock’s fifty day moving average price is $12.74 and its 200-day moving average price is $13.20.
Insider Buying and Selling at Warner Bros. Discovery
In other news, insider Gerhard Zeiler acquired 38,000 shares of Warner Bros. Discovery stock in a transaction that occurred on Monday, August 7th. The shares were purchased 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.60% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
Several equities research analysts have recently issued reports on WBD shares. Evercore ISI dropped their price objective on shares of Warner Bros. Discovery from $25.00 to $20.00 and set an “outperform” rating for the company in a research report on Monday, July 24th. Barclays raised their price objective on 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. Morgan Stanley reaffirmed an “equal weight” rating and issued a $15.00 target price on shares of Warner Bros. Discovery in a research report on Friday, August 4th. Wolfe Research downgraded Warner Bros. Discovery from an “outperform” rating to a “peer perform” rating in a report on Friday, July 7th. Finally, Truist Financial restated a “buy” rating and issued a $17.00 price target on shares of Warner Bros. Discovery in a report on Wednesday, September 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $20.66.
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.
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