Prime Capital Investment Advisors LLC Lowers Stock Position in Warner Bros. Discovery, Inc. $WBD

Prime Capital Investment Advisors LLC cut its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 34.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,348 shares of the company’s stock after selling 8,545 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Warner Bros. Discovery were worth $187,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Voya Investment Management LLC grew its position in shares of Warner Bros. Discovery by 34.9% during the first quarter. Voya Investment Management LLC now owns 7,035,842 shares of the company’s stock worth $75,495,000 after acquiring an additional 1,820,249 shares during the last quarter. Bfsg LLC grew its position in shares of Warner Bros. Discovery by 11.2% during the second quarter. Bfsg LLC now owns 156,906 shares of the company’s stock worth $1,798,000 after acquiring an additional 15,786 shares during the last quarter. Kingstone Capital Partners Texas LLC purchased a new position in shares of Warner Bros. Discovery during the second quarter worth approximately $4,089,000. Hi Line Capital Management LLC grew its position in shares of Warner Bros. Discovery by 17.8% during the first quarter. Hi Line Capital Management LLC now owns 597,478 shares of the company’s stock worth $6,411,000 after acquiring an additional 90,462 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. grew its position in shares of Warner Bros. Discovery by 4.3% during the second quarter. Mn Services Vermogensbeheer B.V. now owns 878,600 shares of the company’s stock worth $10,069,000 after acquiring an additional 36,100 shares during the last quarter. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WBD has been the topic of a number of research reports. Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a research report on Friday, September 12th. Benchmark reiterated a “buy” rating and issued a $18.00 price objective on shares of Warner Bros. Discovery in a research report on Monday, July 14th. KeyCorp reiterated a “sector weight” rating on shares of Warner Bros. Discovery in a research report on Friday, September 26th. Bank of America lifted their price objective on shares of Warner Bros. Discovery from $16.00 to $24.00 and gave the company a “buy” rating in a research report on Tuesday, September 30th. Finally, Morgan Stanley lifted their price objective on shares of Warner Bros. Discovery from $13.00 to $15.00 and gave the company an “equal weight” rating in a research report on Thursday, September 25th. 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $16.61.

Warner Bros. Discovery Price Performance

Warner Bros. Discovery stock opened at $17.10 on Monday. Warner Bros. Discovery, Inc. has a one year low of $7.25 and a one year high of $20.24. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.04 and a current ratio of 1.04. The business has a fifty day moving average of $14.93 and a two-hundred day moving average of $11.79. The company has a market cap of $42.34 billion, a P/E ratio of 57.00, a price-to-earnings-growth ratio of 2.00 and a beta of 1.73.

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

Insider Buying and Selling at Warner Bros. Discovery

In other Warner Bros. Discovery news, insider Bruce Campbell sold 150,000 shares of the firm’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $18.00, for a total value of $2,700,000.00. Following the completion of the sale, the insider owned 252,464 shares of the company’s stock, valued at approximately $4,544,352. This trade represents a 37.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Gunnar Wiedenfels sold 530,793 shares of Warner Bros. Discovery stock in a transaction on Monday, September 15th. The stock was sold at an average price of $19.50, for a total value of $10,350,463.50. Following the transaction, the chief financial officer directly owned 1,141,150 shares of the company’s stock, valued at $22,252,425. This trade represents a 31.75% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 970,115 shares of company stock valued at $17,818,490. 1.80% of the stock is owned by company insiders.

About Warner Bros. Discovery

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.