Warner Bros. Discovery, Inc. (NASDAQ:WBD) Director Acquires $2,725,000.00 in Stock

Key Points

• Anton J. Levy, a director at Warner Bros. Discovery, purchased 250,000 shares of the company's stock at an average price of $10.90, totaling approximately $2.73 million, increasing his ownership by 40.06%.
• The company recently reported earnings with an EPS of $0.63, significantly exceeding analyst expectations, and a revenue of $9.81 billion for the quarter.
• Institutional investors hold 59.95% of Warner Bros. Discovery's stock, indicating strong institutional interest in the company.

Warner Bros. Discovery, Inc. (NASDAQ:WBD - Get Free Report) Director Anton J. Levy bought 250,000 shares of the firm's stock in a transaction dated Monday, August 11th. The shares were acquired at an average price of $10.90 per share, for a total transaction of $2,725,000.00. Following the acquisition, 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 position. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

Warner Bros. Discovery Trading Down 2.2%

Shares of Warner Bros. Discovery stock traded down $0.27 during trading on Thursday, hitting $11.78. 53,355,841 shares of the company were exchanged, compared to its average volume of 73,137,200. The firm has a market capitalization of $28.92 billion, a P/E ratio of 39.27, a price-to-earnings-growth ratio of 2.24 and a beta of 1.57. Warner Bros. Discovery, Inc. has a 1-year low of $6.78 and a 1-year high of $13.86. The firm's fifty day moving average price is $11.65 and its 200 day moving average price is $10.36. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.04 and a quick ratio of 1.04.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.79. The company had revenue of $9.81 billion during the quarter, compared to analyst estimates of $9.73 billion. Warner Bros. Discovery had a return on equity of 2.14% and a net margin of 2.00%. The company's revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the previous year, the company earned ($4.07) EPS. As a group, sell-side analysts expect that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Warner Bros. Discovery

Several institutional investors have recently modified their holdings of WBD. Norges Bank bought a new position in shares of Warner Bros. Discovery during the 2nd quarter valued at about $306,848,000. Independent Franchise Partners LLP bought a new position in shares of Warner Bros. Discovery during the 1st quarter valued at about $140,224,000. Nuveen LLC bought a new position in shares of Warner Bros. Discovery during the 1st quarter valued at about $96,971,000. Sound Shore Management Inc CT bought a new position in shares of Warner Bros. Discovery during the 2nd quarter valued at about $97,951,000. Finally, Maverick Capital Ltd. bought a new position in shares of Warner Bros. Discovery during the 2nd quarter valued at about $77,896,000. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Raymond James Financial decreased their target price on Warner Bros. Discovery from $14.00 to $13.00 and set an "outperform" rating on the stock in a report on Friday, August 8th. Wells Fargo & Company raised their price target on Warner Bros. Discovery from $11.00 to $13.00 and gave the company an "equal weight" rating in a report on Friday, August 8th. UBS Group lifted their price objective on Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 8th. Barclays lifted their price objective on Warner Bros. Discovery from $9.00 to $13.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 9th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Warner Bros. Discovery in a research report on Tuesday, June 10th. Eleven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $13.14.

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.