Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Bought by Assetmark Inc.

Assetmark Inc. grew its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 19.3% in the 1st quarter, Holdings Channel reports. The fund owned 151,234 shares of the company’s stock after acquiring an additional 24,440 shares during the period. Assetmark Inc.’s holdings in Warner Bros. Discovery were worth $1,623,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Avantax Advisory Services Inc. grew its stake in shares of Warner Bros. Discovery by 20.4% during the first quarter. Avantax Advisory Services Inc. now owns 46,840 shares of the company’s stock valued at $503,000 after acquiring an additional 7,952 shares in the last quarter. Guardian Wealth Management Inc. grew its stake in shares of Warner Bros. Discovery by 60.3% during the first quarter. Guardian Wealth Management Inc. now owns 57,729 shares of the company’s stock valued at $619,000 after acquiring an additional 21,712 shares in the last quarter. Wakefield Asset Management LLLP acquired a new position in Warner Bros. Discovery in the first quarter worth about $515,000. KLP Kapitalforvaltning AS grew its stake in Warner Bros. Discovery by 8.2% in the first quarter. KLP Kapitalforvaltning AS now owns 793,027 shares of the company’s stock worth $8,509,000 after purchasing an additional 60,200 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich grew its stake in Warner Bros. Discovery by 3.8% in the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,987,231 shares of the company’s stock worth $45,595,000 after purchasing an additional 144,651 shares in the last quarter. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Wells Fargo & Company lifted their price target on Warner Bros. Discovery from $10.00 to $11.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 2nd. Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a research note on Tuesday, June 10th. KeyCorp lifted their price target on Warner Bros. Discovery from $13.00 to $18.00 and gave the stock an “overweight” rating in a research note on Wednesday. Bank of America lifted their price target on Warner Bros. Discovery from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Tuesday, July 1st. Finally, Barrington Research reiterated an “outperform” rating and issued a $16.00 price target on shares of Warner Bros. Discovery in a research note on Wednesday. Twelve investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Warner Bros. Discovery has a consensus rating of “Moderate Buy” and a consensus price target of $12.66.

Warner Bros. Discovery Price Performance

Shares of NASDAQ:WBD opened at $13.26 on Thursday. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $13.86. The stock has a market cap of $32.55 billion, a price-to-earnings ratio of -3.01 and a beta of 1.54. The stock’s 50 day moving average price is $11.02 and its 200 day moving average price is $10.17. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.84 and a quick ratio of 0.84.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.06). The company had revenue of $8.98 billion during the quarter, compared to the consensus estimate of $9.66 billion. Warner Bros. Discovery had a negative net margin of 28.16% and a negative return on equity of 30.56%. Warner Bros. Discovery’s quarterly revenue was down 9.8% on a year-over-year basis. During the same period in the prior year, the company posted ($0.40) EPS. Equities research analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Warner Bros. Discovery Company Profile

Warner Bros. Discovery, Inc operates as 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 licenses television programs to its networks and third parties 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.