Vise Technologies Inc. lifted its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD – Free Report) by 80.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 49,093 shares of the company’s stock after purchasing an additional 21,845 shares during the period. Vise Technologies Inc.’s holdings in Warner Bros. Discovery were worth $1,415,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the company. TD Asset Management Inc lifted its position in shares of Warner Bros. Discovery by 1.8% during the 4th quarter. TD Asset Management Inc now owns 977,018 shares of the company’s stock worth $28,158,000 after purchasing an additional 16,963 shares during the last quarter. Cibc World Market Inc. raised its stake in Warner Bros. Discovery by 884.1% during the 4th quarter. Cibc World Market Inc. now owns 261,568 shares of the company’s stock worth $7,538,000 after acquiring an additional 234,988 shares in the last quarter. Lido Advisors LLC raised its stake in Warner Bros. Discovery by 5.6% during the 4th quarter. Lido Advisors LLC now owns 67,217 shares of the company’s stock worth $1,937,000 after acquiring an additional 3,577 shares in the last quarter. Avestar Capital LLC acquired a new stake in Warner Bros. Discovery during the 4th quarter worth $517,000. Finally, CIBC Asset Management Inc raised its stake in Warner Bros. Discovery by 40.9% during the 4th quarter. CIBC Asset Management Inc now owns 1,035,360 shares of the company’s stock worth $29,839,000 after acquiring an additional 300,421 shares in the last quarter. 59.95% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other news, Director Paul A. Gould sold 600,000 shares of the business’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $27.35, for a total transaction of $16,410,000.00. Following the transaction, the director directly owned 244,357 shares in the company, valued at $6,683,163.95. The trade was a 71.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Fazal F. Merchant sold 35,000 shares of the business’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $27.48, for a total transaction of $961,800.00. Following the transaction, the director owned 95,539 shares in the company, valued at approximately $2,625,411.72. This trade represents a 26.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.80% of the company’s stock.
Warner Bros. Discovery Trading Up 0.9%
Warner Bros. Discovery (NASDAQ:WBD – Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($1.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($1.07). The business had revenue of $8.89 billion during the quarter, compared to analyst estimates of $8.89 billion. Warner Bros. Discovery had a negative net margin of 4.67% and a negative return on equity of 4.77%. The company’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.18) earnings per share. Analysts expect that Warner Bros. Discovery, Inc. will post -0.93 earnings per share for the current year.
Wall Street Analyst Weigh In
Several brokerages recently commented on WBD. Wells Fargo & Company began coverage on shares of Warner Bros. Discovery in a research note on Monday, March 9th. They set an “equal weight” rating and a $31.00 price target on the stock. Argus cut their price target on shares of Warner Bros. Discovery from $32.00 to $31.00 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. Deutsche Bank Aktiengesellschaft lowered shares of Warner Bros. Discovery from a “buy” rating to a “hold” rating and lifted their price target for the stock from $29.50 to $31.00 in a research note on Friday, February 27th. Guggenheim reiterated a “neutral” rating on shares of Warner Bros. Discovery in a research note on Thursday, May 7th. Finally, Weiss Ratings lowered shares of Warner Bros. Discovery from a “hold (c-)” rating to a “sell (d-)” rating in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Warner Bros. Discovery has an average rating of “Hold” and a consensus target price of $27.04.
Get Our Latest Stock Report on Warner Bros. Discovery
Warner Bros. Discovery Company Profile
Warner Bros. Discovery (NASDAQ: WBD) is a global media and entertainment company formed when WarnerMedia and Discovery, Inc combined their businesses in 2022. Headquartered in New York City, the company assembles a broad portfolio of film and television production, linear and cable networks, streaming services and consumer distribution operations. Its assets span well-known studio brands, premium scripted and unscripted programming, news and factual entertainment, and licensed franchise properties.
The company’s core activities include film and television production and distribution through units such as Warner Bros.
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