Warner Bros. Discovery, Inc. (NASDAQ:WBD) Director Buys $825,000.00 in Stock

Key Points

• Director Anton J. Levy purchased 75,000 shares of Warner Bros. Discovery stock at $11.00 each, totaling $825,000, increasing his ownership to 949,000 shares, valued at approximately $10.4 million.
• Warner Bros. Discovery reported $0.63 EPS for the quarter, exceeding estimates by $0.79, with revenue of $9.81 billion, surpassing analyst expectations.
• Analysts have mixed ratings on Warner Bros. Discovery with an average target price of $12.84, indicating a consensus rating of "Hold."

Warner Bros. Discovery, Inc. (NASDAQ:WBD - Get Free Report) Director Anton J. Levy acquired 75,000 shares of the company's stock in a transaction dated Tuesday, August 12th. The shares were bought at an average price of $11.00 per share, for a total transaction of $825,000.00. Following the purchase, the director owned 949,000 shares in the company, valued at approximately $10,439,000. This represents a 8.58% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Warner Bros. Discovery Stock Performance

NASDAQ WBD traded down $0.27 on Thursday, reaching $11.78. The stock had a trading volume of 53,355,841 shares, compared to its average volume of 73,137,200. 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 has a fifty day moving average of $11.65 and a two-hundred day moving average of $10.36. Warner Bros. Discovery, Inc. has a 1-year low of $6.78 and a 1-year high of $13.86. The company has a market cap 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 (NASDAQ:WBD - Get Free Report) last released 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 for 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%. Warner Bros. Discovery's quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($4.07) EPS. On average, equities research analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Barrington Research reiterated an "outperform" rating and set a $16.00 price objective on shares of Warner Bros. Discovery in a research note on Wednesday, July 30th. KeyCorp dropped their price objective on Warner Bros. Discovery from $18.00 to $16.00 and set an "overweight" rating on the stock in a research note on Friday, August 8th. Bank of America upped their price objective on Warner Bros. Discovery from $14.00 to $16.00 and gave the stock a "buy" rating in a research note on Tuesday, July 1st. Citigroup dropped their price objective on 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. Finally, Benchmark reiterated a "buy" rating and set a $18.00 price objective on shares of Warner Bros. Discovery in a research note on Monday, July 14th. Eleven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Warner Bros. Discovery presently has a consensus rating of "Moderate Buy" and a consensus price target of $13.14.

Institutional Trading of Warner Bros. Discovery

Several large investors have recently modified their holdings of the stock. California State Teachers Retirement System grew its holdings in shares of Warner Bros. Discovery by 8.8% during the 2nd quarter. California State Teachers Retirement System now owns 3,529,905 shares of the company's stock worth $40,453,000 after purchasing an additional 284,709 shares in the last quarter. Maverick Capital Ltd. acquired a new stake in shares of Warner Bros. Discovery during the 2nd quarter worth $77,896,000. Canada Pension Plan Investment Board grew its holdings in shares of Warner Bros. Discovery by 50.7% during the 2nd quarter. Canada Pension Plan Investment Board now owns 137,544 shares of the company's stock worth $1,576,000 after purchasing an additional 46,270 shares in the last quarter. Occudo Quantitative Strategies LP acquired a new stake in shares of Warner Bros. Discovery during the 2nd quarter worth $2,728,000. Finally, Quantinno Capital Management LP grew its holdings in shares of Warner Bros. Discovery by 59.2% during the 2nd quarter. Quantinno Capital Management LP now owns 607,052 shares of the company's stock worth $6,957,000 after purchasing an additional 225,660 shares in the last quarter. 59.95% of the stock is owned by institutional investors and hedge funds.

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.