Assetmark Inc. Has $1.62 Million Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Assetmark Inc. grew its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 19.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 151,234 shares of the company's stock after purchasing an additional 24,440 shares during the quarter. Assetmark Inc.'s holdings in Warner Bros. Discovery were worth $1,623,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Avantax Advisory Services Inc. boosted its position in shares of Warner Bros. Discovery by 20.4% during the first quarter. Avantax Advisory Services Inc. now owns 46,840 shares of the company's stock worth $503,000 after buying an additional 7,952 shares during the period. Guardian Wealth Management Inc. increased its holdings in shares of Warner Bros. Discovery by 60.3% in the first quarter. Guardian Wealth Management Inc. now owns 57,729 shares of the company's stock valued at $619,000 after buying an additional 21,712 shares in the last quarter. Wakefield Asset Management LLLP bought a new position in shares of Warner Bros. Discovery in the first quarter valued at $515,000. KLP Kapitalforvaltning AS increased its holdings in shares of Warner Bros. Discovery by 8.2% in the first quarter. KLP Kapitalforvaltning AS now owns 793,027 shares of the company's stock valued at $8,509,000 after buying an additional 60,200 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich increased its holdings in shares of Warner Bros. Discovery by 3.8% in the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,987,231 shares of the company's stock valued at $45,595,000 after buying an additional 144,651 shares in the last quarter. 59.95% of the stock is owned by institutional investors.

Warner Bros. Discovery Price Performance

Shares of WBD traded down $0.09 during mid-day trading on Thursday, hitting $13.17. 55,433,759 shares of the company traded hands, compared to its average volume of 74,120,952. Warner Bros. Discovery, Inc. has a one year low of $6.64 and a one year high of $13.86. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.99. The business has a 50-day moving average of $11.19 and a 200 day moving average of $10.22. The stock has a market capitalization of $32.33 billion, a price-to-earnings ratio of -2.99 and a beta of 1.54.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.06). The business had revenue of $8.98 billion during the quarter, compared to the consensus estimate of $9.66 billion. Warner Bros. Discovery had a negative net margin of 28.16% and a negative return on equity of 30.56%. Warner Bros. Discovery's revenue was down 9.8% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.40) earnings per share. As a group, equities analysts expect that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Barrington Research reaffirmed an "outperform" rating and issued a $16.00 price target on shares of Warner Bros. Discovery in a report on Wednesday. Raymond James Financial cut their target price on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an "outperform" rating on the stock in a research note on Friday, April 4th. Citigroup cut their target price on shares of Warner Bros. Discovery from $15.00 to $14.00 and set a "buy" rating on the stock in a research note on Thursday, May 29th. Barclays boosted their target price on shares of Warner Bros. Discovery from $9.00 to $13.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 9th. Finally, Benchmark reissued a "buy" rating and set a $18.00 target price on shares of Warner Bros. Discovery in a research note on Monday, July 14th. Twelve analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $12.66.

About Warner Bros. Discovery

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.