Integrated Wealth Concepts LLC Increases Stock Holdings in Warner Bros. Discovery, Inc. $WBD

Integrated Wealth Concepts LLC lifted its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 70.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 95,315 shares of the company’s stock after buying an additional 39,477 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in Warner Bros. Discovery were worth $1,023,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of WBD. Independent Franchise Partners LLP purchased a new stake in shares of Warner Bros. Discovery in the first quarter worth about $140,224,000. Nuveen LLC purchased a new stake in shares of Warner Bros. Discovery in the first quarter worth about $96,971,000. KBC Group NV lifted its holdings in shares of Warner Bros. Discovery by 682.8% in the first quarter. KBC Group NV now owns 7,145,308 shares of the company’s stock worth $76,669,000 after buying an additional 6,232,561 shares in the last quarter. Sachem Head Capital Management LP bought a new position in shares of Warner Bros. Discovery in the fourth quarter worth approximately $64,847,000. Finally, Apollo Management Holdings L.P. bought a new position in shares of Warner Bros. Discovery in the first quarter worth approximately $65,031,000. 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 purchased 250,000 shares of Warner Bros. Discovery stock in a transaction on Monday, August 11th. The shares were acquired at an average cost of $10.90 per share, for a total transaction of $2,725,000.00. Following the completion of the transaction, the director directly owned 874,000 shares of the company’s stock, valued at approximately $9,526,600. The trade was a 40.06% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 1.90% of the stock is owned by insiders.

Warner Bros. Discovery Stock Up 28.9%

Shares of NASDAQ WBD opened at $16.17 on Friday. Warner Bros. Discovery, Inc. has a one year low of $7.08 and a one year high of $17.24. 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 firm’s 50 day simple moving average is $12.24 and its two-hundred day simple moving average is $10.60. The stock has a market capitalization of $40.03 billion, a P/E ratio of 53.90, a PEG ratio of 1.67 and a beta of 1.59.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly 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 net margin of 2.00% and a return on equity of 2.14%. The business had revenue of $9.81 billion for the quarter, compared to analysts’ expectations of $9.73 billion. During the same period last year, the business earned ($4.07) earnings per share. The business’s quarterly revenue was up 1.0% on a year-over-year basis. As a group, analysts expect that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on WBD. Wells Fargo & Company upped their price objective on shares of Warner Bros. Discovery from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Thursday. Guggenheim restated a “buy” rating on shares of Warner Bros. Discovery in a research report on Tuesday, June 10th. Huber Research upgraded shares of Warner Bros. Discovery from a “strong sell” rating to a “strong-buy” rating in a research report on Monday, June 9th. UBS Group upped their price objective on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 8th. Finally, Bank of America upped their price objective on shares of Warner Bros. Discovery from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $13.20.

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.