333,748 Shares in Warner Bros. Discovery, Inc. $WBD Purchased by Kingstone Capital Partners Texas LLC

Key Points

• Kingstone Capital Partners Texas LLC acquired 333,748 shares of Warner Bros. Discovery, Inc., valued at approximately $4.09 million, indicating growing interest from institutional investors.
• Warner Bros. Discovery reported $0.63 EPS for the last quarter, surpassing analysts' expectations of a loss and marking a revenue increase to $9.81 billion.
• Recent ratings from analysts show a shift, with some lowering price targets while others upgrade their ratings, reflecting mixed sentiment about the stock's future performance.

Kingstone Capital Partners Texas LLC bought a new position in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 333,748 shares of the company's stock, valued at approximately $4,089,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Voya Investment Management LLC grew its position in Warner Bros. Discovery by 34.9% in the 1st quarter. Voya Investment Management LLC now owns 7,035,842 shares of the company's stock worth $75,495,000 after purchasing an additional 1,820,249 shares during the last quarter. GF Fund Management CO. LTD. bought a new stake in Warner Bros. Discovery during the fourth quarter worth approximately $4,914,000. Polar Asset Management Partners Inc. acquired a new stake in shares of Warner Bros. Discovery in the fourth quarter worth $3,022,000. Hi Line Capital Management LLC boosted its position in shares of Warner Bros. Discovery by 17.8% in the first quarter. Hi Line Capital Management LLC now owns 597,478 shares of the company's stock worth $6,411,000 after buying an additional 90,462 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Warner Bros. Discovery by 10.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,113,962 shares of the company's stock worth $151,443,000 after buying an additional 1,295,782 shares in the last quarter. Institutional investors own 59.95% of the company's stock.

Warner Bros. Discovery Stock Performance

NASDAQ:WBD opened at $19.33 on Friday. Warner Bros. Discovery, Inc. has a 1 year low of $7.25 and a 1 year high of $19.59. The firm's fifty day simple moving average is $13.13 and its 200 day simple moving average is $10.92. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $47.86 billion, a PE ratio of 64.44, a PEG ratio of 2.58 and a beta of 1.59.

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, 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 analyst estimates of $9.73 billion. During the same period last year, the business posted ($4.07) EPS. Warner Bros. Discovery's revenue was up 1.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on WBD. KeyCorp cut their target price on shares of Warner Bros. Discovery from $18.00 to $16.00 and set an "overweight" rating for the company in a research report on Friday, August 8th. Huber Research upgraded shares of Warner Bros. Discovery from a "strong sell" rating to a "strong-buy" rating in a report on Monday, June 9th. Morgan Stanley raised their price target on shares of Warner Bros. Discovery from $10.00 to $13.00 and gave the company an "equal weight" rating in a report on Wednesday, August 6th. Barclays raised their price target on shares of Warner Bros. Discovery from $9.00 to $13.00 and gave the company an "equal weight" rating in a report on Wednesday, July 9th. Finally, Bank of America raised their price target on shares of Warner Bros. Discovery from $14.00 to $16.00 and gave the company a "buy" rating in a report on Tuesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and thirteen have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $13.25.

Insider Activity at Warner Bros. Discovery

In other news, Director Anton J. Levy bought 250,000 shares of the stock in a transaction that occurred 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 purchase, the director owned 874,000 shares of the company's stock, valued at $9,526,600. This represents a 40.06% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Gunnar Wiedenfels sold 530,793 shares of the firm's stock in a transaction on Monday, September 15th. The shares were sold at an average price of $19.50, for a total transaction of $10,350,463.50. Following the completion of the transaction, the chief financial officer owned 1,141,150 shares in the company, valued at $22,252,425. The trade was a 31.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 970,115 shares of company stock worth $17,818,490. 1.90% of the stock is owned by insiders.

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.

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