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

Y Intercept Hong Kong Ltd reduced its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 88.9% during the third quarter, Holdings Channel reports. The institutional investor 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 filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WBD. UniSuper Management Pty Ltd raised its stake in Warner Bros. Discovery by 5.7% during the 3rd quarter. UniSuper Management Pty Ltd now owns 264,251 shares of the company’s stock worth $5,161,000 after acquiring an additional 14,264 shares during the period. Parkside Financial Bank & Trust boosted its position in shares of Warner Bros. Discovery by 9.3% in the third quarter. Parkside Financial Bank & Trust now owns 8,922 shares of the company’s stock worth $174,000 after purchasing an additional 758 shares during the period. iA Global Asset Management Inc. increased its stake in shares of Warner Bros. Discovery by 4.6% in the third quarter. iA Global Asset Management Inc. now owns 286,664 shares of the company’s stock worth $5,599,000 after purchasing an additional 12,668 shares in the last quarter. Rakuten Investment Management Inc. bought a new stake in shares of Warner Bros. Discovery during the 3rd quarter valued at $718,000. Finally, Sage Mountain Advisors LLC purchased a new position in shares of Warner Bros. Discovery during the 3rd quarter valued at $268,000. 59.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on WBD. Wells Fargo & Company upped their target price on shares of Warner Bros. Discovery from $21.00 to $25.00 and gave the stock an “equal weight” rating in a report on Friday, November 7th. Barclays set a $20.00 price objective on Warner Bros. Discovery in a research report on Wednesday, October 8th. Weiss Ratings upgraded Warner Bros. Discovery from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, January 20th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $29.50 target price on shares of Warner Bros. Discovery in a research note on Monday, December 8th. Finally, Rothschild & Co Redburn upgraded Warner Bros. Discovery from a “neutral” rating to a “buy” rating and set a $28.00 price target for the company in a research note on Thursday, October 30th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat.com, Warner Bros. Discovery currently has an average rating of “Moderate Buy” and a consensus price target of $24.75.

Insider Transactions at Warner Bros. Discovery

In other news, CFO Gunnar Wiedenfels sold 242,994 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $29.50, for a total value of $7,168,323.00. Following the completion of the sale, the chief financial officer directly owned 918,940 shares of the company’s stock, valued at $27,108,730. This trade represents a 20.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Lori C. Locke sold 4,122 shares of the business’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $28.92, for a total value of $119,208.24. Following the transaction, the chief accounting officer directly owned 100,962 shares in the company, valued at approximately $2,919,821.04. This represents a 3.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 489,326 shares of company stock worth $12,781,456. Insiders own 1.80% of the company’s stock.

Warner Bros. Discovery Price Performance

NASDAQ:WBD opened at $28.58 on Monday. 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 company has a market capitalization of $70.82 billion, a P/E ratio of 150.43 and a beta of 1.56. Warner Bros. Discovery, Inc. has a 12 month low of $7.52 and a 12 month high of $30.00. The business’s 50-day moving average is $27.21 and its 200 day moving average is $20.08.

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

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.