IFP Advisors Inc Boosts Holdings in Warner Bros. Discovery, Inc. $WBD

IFP Advisors Inc lifted its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 29.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,406 shares of the company’s stock after purchasing an additional 13,418 shares during the quarter. IFP Advisors Inc’s holdings in Warner Bros. Discovery were worth $674,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Warner Bros. Discovery by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 256,820,031 shares of the company’s stock worth $2,755,679,000 after buying an additional 4,169,240 shares in the last quarter. Invesco Ltd. increased its holdings in Warner Bros. Discovery by 2.1% in the 1st quarter. Invesco Ltd. now owns 43,341,297 shares of the company’s stock worth $465,052,000 after buying an additional 873,869 shares in the last quarter. Sessa Capital IM L.P. increased its holdings in Warner Bros. Discovery by 4.0% in the 1st quarter. Sessa Capital IM L.P. now owns 29,555,277 shares of the company’s stock worth $317,128,000 after buying an additional 1,144,849 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Warner Bros. Discovery by 4.5% in the 1st quarter. The Manufacturers Life Insurance Company now owns 24,672,364 shares of the company’s stock worth $264,734,000 after buying an additional 1,063,535 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in Warner Bros. Discovery by 1.9% in the 1st quarter. Northern Trust Corp now owns 23,427,661 shares of the company’s stock worth $251,379,000 after buying an additional 430,787 shares in the last quarter. 59.95% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

WBD has been the subject of several research analyst reports. UBS Group lifted their price objective on Warner Bros. Discovery from $10.00 to $20.00 and gave the stock a “neutral” rating in a report on Monday, October 6th. Benchmark restated a “buy” rating and set a $18.00 price target on shares of Warner Bros. Discovery in a research note on Monday, July 14th. Bank of America boosted their price target on Warner Bros. Discovery from $16.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday, September 30th. The Goldman Sachs Group boosted their price target on Warner Bros. Discovery from $11.50 to $13.00 and gave the company a “neutral” rating in a research note on Tuesday, September 30th. Finally, Wells Fargo & Company boosted their price target on Warner Bros. Discovery from $13.00 to $14.00 and gave the company an “equal weight” rating in a research note on Thursday, September 11th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and sixteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $16.61.

Warner Bros. Discovery Trading Up 4.0%

Shares of NASDAQ:WBD opened at $17.78 on Tuesday. The stock has a 50 day moving average of $15.03 and a 200 day moving average of $11.85. The company has a market cap of $44.02 billion, a PE ratio of 59.27, a price-to-earnings-growth ratio of 2.00 and a beta of 1.73. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.92. Warner Bros. Discovery, Inc. has a 12-month low of $7.25 and a 12-month high of $20.24.

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

Insider Activity at Warner Bros. Discovery

In related news, insider Bruce Campbell sold 289,322 shares of the business’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $16.48, for a total transaction of $4,768,026.56. Following the completion of the transaction, the insider directly owned 402,464 shares in the company, valued at approximately $6,632,606.72. The trade was a 41.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Anton J. Levy acquired 250,000 shares of the business’s stock in a transaction that occurred on Monday, August 11th. The shares were bought at an average price of $10.90 per share, with a total value of $2,725,000.00. Following the completion of the purchase, the director owned 874,000 shares in the company, valued at $9,526,600. This trade represents a 40.06% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 970,115 shares of company stock worth $17,818,490. 1.80% of the stock is owned by company insiders.

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.