Y Intercept Hong Kong Ltd Invests $21.98 Million in Warner Bros. Discovery, Inc. $WBD

Y Intercept Hong Kong Ltd purchased a new position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,917,585 shares of the company’s stock, valued at approximately $21,976,000. Warner Bros. Discovery makes up 0.5% of Y Intercept Hong Kong Ltd’s portfolio, making the stock its 9th biggest position. Y Intercept Hong Kong Ltd owned approximately 0.08% of Warner Bros. Discovery at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. WPG Advisers LLC bought a new position in shares of Warner Bros. Discovery during the 1st quarter worth approximately $26,000. Financial Gravity Asset Management Inc. bought a new position in shares of Warner Bros. Discovery in the first quarter valued at $27,000. North Capital Inc. bought a new position in shares of Warner Bros. Discovery in the first quarter valued at $28,000. Smallwood Wealth Investment Management LLC bought a new position in shares of Warner Bros. Discovery in the first quarter valued at $29,000. Finally, Golden State Wealth Management LLC grew its stake in shares of Warner Bros. Discovery by 448.0% in the first quarter. Golden State Wealth Management LLC now owns 2,877 shares of the company’s stock valued at $31,000 after buying an additional 2,352 shares in the last quarter. 59.95% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Morgan Stanley raised their target price on shares of Warner Bros. Discovery from $13.00 to $15.00 and gave the company an “equal weight” rating in a research note on Thursday, September 25th. Sanford C. Bernstein raised their target price on shares of Warner Bros. Discovery from $13.00 to $16.00 and gave the company a “market perform” rating in a research note on Monday, September 22nd. Guggenheim raised their target price on shares of Warner Bros. Discovery from $14.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Bank of America raised their target price on shares of Warner Bros. Discovery from $16.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday, September 30th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Warner Bros. Discovery in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and sixteen have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $17.68.

Insider Transactions at Warner Bros. Discovery

In other news, CFO Gunnar Wiedenfels sold 530,793 shares of the business’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $19.50, for a total value of $10,350,463.50. Following the completion of the sale, the chief financial officer owned 1,141,150 shares of the company’s stock, valued at approximately $22,252,425. The trade was a 31.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Bruce Campbell sold 150,000 shares of the business’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $18.00, for a total transaction of $2,700,000.00. Following the completion of the sale, the insider directly owned 252,464 shares of the company’s stock, valued at approximately $4,544,352. The trade was a 37.27% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 970,115 shares of company stock valued at $17,818,490. 1.90% of the stock is currently owned by corporate insiders.

Warner Bros. Discovery Trading Down 0.5%

WBD stock opened at $21.15 on Monday. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.04 and a quick ratio of 1.04. The company has a fifty day moving average price of $16.40 and a two-hundred day moving average price of $12.50. Warner Bros. Discovery, Inc. has a one year low of $7.49 and a one year high of $21.57. The stock has a market cap of $52.36 billion, a price-to-earnings ratio of 70.50, a price-to-earnings-growth ratio of 2.57 and a beta of 1.73.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.79. Warner Bros. Discovery had a net margin of 2.00% and a return on equity of 2.14%. The firm had revenue of $9.81 billion during the quarter, compared to analysts’ expectations of $9.73 billion. During the same period in the previous year, the business posted ($4.07) earnings per share. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. Equities analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current 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.