Y Intercept Hong Kong Ltd Purchases New Stake in Warner Bros. Discovery, Inc. $WBD

Y Intercept Hong Kong Ltd purchased a new stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,917,585 shares of the company’s stock, valued at approximately $21,976,000. Warner Bros. Discovery makes up about 0.5% of Y Intercept Hong Kong Ltd’s investment portfolio, making the stock its 9th biggest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of WBD. Independent Franchise Partners LLP acquired a new position in Warner Bros. Discovery in the first quarter valued at about $140,224,000. Nuveen LLC acquired a new position in Warner Bros. Discovery in the first quarter valued at about $96,971,000. KBC Group NV raised its stake in Warner Bros. Discovery by 682.8% in the first quarter. KBC Group NV now owns 7,145,308 shares of the company’s stock valued at $76,669,000 after purchasing an additional 6,232,561 shares in the last quarter. Apollo Management Holdings L.P. acquired a new position in Warner Bros. Discovery in the first quarter valued at about $65,031,000. Finally, Dimensional Fund Advisors LP raised its stake in Warner Bros. Discovery by 63.7% in the first quarter. Dimensional Fund Advisors LP now owns 12,839,389 shares of the company’s stock valued at $137,700,000 after purchasing an additional 4,994,894 shares in the last quarter. Institutional investors and hedge funds own 59.95% of the company’s stock.

Insider Activity

In other news, CFO Gunnar Wiedenfels sold 530,793 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer owned 1,141,150 shares of the company’s stock, valued at $22,252,425. This represents a 31.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Anton J. Levy acquired 250,000 shares of the stock in a transaction dated Monday, August 11th. The stock was purchased at an average cost of $10.90 per share, with a total value of $2,725,000.00. Following the purchase, the director directly owned 874,000 shares of the company’s stock, valued at $9,526,600. This trade represents a 40.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 970,115 shares of company stock valued at $17,818,490 over the last quarter. 1.90% of the stock is owned by company insiders.

Warner Bros. Discovery Stock Performance

Warner Bros. Discovery stock opened at $21.15 on Monday. The business has a 50 day moving average of $16.40 and a 200-day moving average of $12.50. Warner Bros. Discovery, Inc. has a 1 year low of $7.49 and a 1 year high of $21.57. 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 market capitalization of $52.36 billion, a P/E ratio of 70.50, a P/E/G 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 earnings per share (EPS) for the quarter, beating the consensus estimate 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 in the prior year, the firm posted ($4.07) earnings per share. The firm’s revenue was up 1.0% compared to the same quarter last year. On average, equities research analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Singular Research raised Warner Bros. Discovery to a “moderate buy” rating in a research note on Wednesday, October 22nd. Morgan Stanley boosted their target price on Warner Bros. Discovery from $13.00 to $15.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 25th. Seaport Global Securities boosted their target price on Warner Bros. Discovery from $15.00 to $24.00 and gave the stock a “buy” rating in a research note on Friday, October 3rd. TD Cowen reissued a “hold” rating and set a $14.00 target price on shares of Warner Bros. Discovery in a research note on Tuesday, September 16th. Finally, Moffett Nathanson boosted their target price on Warner Bros. Discovery from $14.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, September 22nd. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and sixteen have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $17.68.

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.