Farther Finance Advisors LLC Increases Holdings in Warner Bros. Discovery, Inc. $WBD

Farther Finance Advisors LLC increased its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 10.9% in the second quarter, Holdings Channel reports. The firm owned 13,148 shares of the company’s stock after acquiring an additional 1,295 shares during the period. Farther Finance Advisors LLC’s holdings in Warner Bros. Discovery were worth $151,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Voya Investment Management LLC boosted its position in Warner Bros. Discovery by 34.9% during the 1st quarter. Voya Investment Management LLC now owns 7,035,842 shares of the company’s stock worth $75,495,000 after purchasing an additional 1,820,249 shares during the period. Kingstone Capital Partners Texas LLC purchased a new position in Warner Bros. Discovery in the 2nd quarter valued at about $4,089,000. Hi Line Capital Management LLC boosted its position in Warner Bros. Discovery by 17.8% in the 1st quarter. Hi Line Capital Management LLC now owns 597,478 shares of the company’s stock valued at $6,411,000 after buying an additional 90,462 shares during the last quarter. Mn Services Vermogensbeheer B.V. boosted its position in Warner Bros. Discovery by 4.3% in the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 878,600 shares of the company’s stock valued at $10,069,000 after buying an additional 36,100 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Warner Bros. Discovery by 10.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,113,962 shares of the company’s stock valued at $151,443,000 after buying an additional 1,295,782 shares during the last quarter. 59.95% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Warner Bros. Discovery news, Director Anton J. Levy acquired 75,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 12th. The shares were purchased at an average price of $11.00 per share, for a total transaction of $825,000.00. Following the completion of the purchase, the director directly owned 949,000 shares in the company, valued at $10,439,000. The trade was a 8.58% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Gunnar Wiedenfels sold 530,793 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $19.50, for a total transaction of $10,350,463.50. Following the completion of the sale, the chief financial officer owned 1,141,150 shares in the company, valued at $22,252,425. The trade was a 31.75% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 970,115 shares of company stock worth $17,818,490 over the last quarter. 1.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

WBD has been the subject of a number of analyst reports. Guggenheim reissued a “buy” rating on shares of Warner Bros. Discovery in a research report on Tuesday, June 10th. Cowen cut shares of Warner Bros. Discovery from a “buy” rating to a “hold” rating in a research report on Tuesday, September 16th. KeyCorp reissued a “sector weight” rating on shares of Warner Bros. Discovery in a research report on Friday, September 26th. Barclays upped their price objective on shares of Warner Bros. Discovery from $9.00 to $13.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 9th. Finally, TD Cowen reaffirmed a “hold” rating and set a $14.00 price target on shares of Warner Bros. Discovery in a research report on Tuesday, September 16th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and fifteen have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $15.14.

Warner Bros. Discovery Price Performance

WBD opened at $19.24 on Friday. The firm has a market cap of $47.63 billion, a price-to-earnings ratio of 64.14, a price-to-earnings-growth ratio of 2.47 and a beta of 1.73. Warner Bros. Discovery, Inc. has a fifty-two week low of $7.25 and a fifty-two week high of $20.24. The company’s 50-day moving average price is $14.34 and its 200 day moving average price is $11.48. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.92.

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

Warner Bros. Discovery 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.