Y Intercept Hong Kong Ltd Sells 1,705,195 Shares of Warner Bros. Discovery, Inc. $WBD

Y Intercept Hong Kong Ltd trimmed its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 88.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 212,390 shares of the company’s stock after selling 1,705,195 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Warner Bros. Discovery were worth $4,148,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Financial Gravity Companies Inc. purchased a new stake in Warner Bros. Discovery in the second quarter worth about $29,000. Grove Bank & Trust grew its holdings in shares of Warner Bros. Discovery by 66.5% during the 3rd quarter. Grove Bank & Trust now owns 1,690 shares of the company’s stock worth $33,000 after acquiring an additional 675 shares during the period. Trifecta Capital Advisors LLC bought a new position in shares of Warner Bros. Discovery in the 2nd quarter worth approximately $34,000. Crews Bank & Trust lifted its stake in shares of Warner Bros. Discovery by 1,242.2% in the 3rd quarter. Crews Bank & Trust now owns 1,718 shares of the company’s stock valued at $34,000 after purchasing an additional 1,590 shares during the period. Finally, Meeder Asset Management Inc. boosted its position in shares of Warner Bros. Discovery by 183.9% during the third quarter. Meeder Asset Management Inc. now owns 1,891 shares of the company’s stock valued at $37,000 after purchasing an additional 1,225 shares in the last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Insider Activity at Warner Bros. Discovery

In other Warner Bros. Discovery news, CFO Gunnar Wiedenfels sold 242,994 shares of the business’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $29.50, for a total transaction of $7,168,323.00. Following the completion of the sale, the chief financial officer directly owned 918,940 shares in the company, valued at approximately $27,108,730. The trade was a 20.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Lori C. Locke sold 5,000 shares of the stock in a transaction on Monday, December 8th. The shares were sold at an average price of $27.62, for a total value of $138,100.00. Following the transaction, the chief accounting officer directly owned 110,084 shares in the company, valued at $3,040,520.08. The trade was a 4.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 489,326 shares of company stock valued at $12,781,456 over the last three months. 1.80% of the stock is owned by corporate insiders.

Warner Bros. Discovery Stock Up 0.8%

Warner Bros. Discovery stock opened at $28.58 on Monday. Warner Bros. Discovery, Inc. has a 12 month low of $7.52 and a 12 month high of $30.00. The stock has a fifty day simple moving average of $27.21 and a two-hundred day simple moving average of $20.08. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.90. The firm has a market cap of $70.82 billion, a price-to-earnings ratio of 150.43 and a beta of 1.56.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.02). Warner Bros. Discovery had a net margin of 1.28% and a return on equity of 1.34%. The business had revenue of $9.05 billion for the quarter, compared to analysts’ expectations of $9.17 billion. During the same period last year, the business earned $0.05 earnings per share. The company’s quarterly revenue was down 6.0% on a year-over-year basis. Equities analysts predict that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on WBD. TD Cowen raised their price objective on Warner Bros. Discovery from $14.00 to $22.00 in a research report on Friday, November 7th. Raymond James Financial lifted their price target on shares of Warner Bros. Discovery from $22.00 to $25.00 and gave the company an “outperform” rating in a research report on Friday, November 7th. Bank of America upped their price objective on shares of Warner Bros. Discovery from $16.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, September 30th. Rothschild & Co Redburn upgraded shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and set a $28.00 target price for the company in a report on Thursday, October 30th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $29.50 price target on shares of Warner Bros. Discovery in a research report on Monday, December 8th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $24.75.

Warner Bros. Discovery 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.