AG2R LA Mondiale Gestion D Actifs Buys New Shares in Warner Bros. Discovery, Inc. $WBD

Key Points

• AG2R LA Mondiale Gestion D Actifs has acquired a new position in Warner Bros. Discovery, purchasing 99,131 shares valued at approximately $988,000.
• Institutional investors collectively own 59.95% of Warner Bros. Discovery's stock, with several firms making significant investments in the first quarter of the year.
• Warner Bros. Discovery's recent earnings report showed a net margin of 2.00% and revenue of $9.81 billion, surpassing analyst estimates.

AG2R LA Mondiale Gestion D Actifs purchased a new position in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 99,131 shares of the company's stock, valued at approximately $988,000.

Several other institutional investors and hedge funds also recently made changes to their positions in WBD. Independent Franchise Partners LLP bought a new stake in shares of Warner Bros. Discovery in the first quarter valued at about $140,224,000. Nuveen LLC bought a new stake in shares of Warner Bros. Discovery in the 1st quarter worth approximately $96,971,000. KBC Group NV grew its holdings in shares of Warner Bros. Discovery by 682.8% during the 1st quarter. KBC Group NV now owns 7,145,308 shares of the company's stock worth $76,669,000 after purchasing an additional 6,232,561 shares in the last quarter. Apollo Management Holdings L.P. bought a new stake in shares of Warner Bros. Discovery during the first quarter valued at approximately $65,031,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of Warner Bros. Discovery by 63.7% in the first quarter. Dimensional Fund Advisors LP now owns 12,839,389 shares of the company's stock valued at $137,700,000 after purchasing an additional 4,994,894 shares in the last quarter. Institutional investors own 59.95% of the company's stock.

Insiders Place Their Bets

In related news, insider Bruce Campbell sold 150,000 shares of the firm's stock in a transaction on Friday, September 12th. The stock was sold at an average price of $18.00, for a total transaction of $2,700,000.00. Following the completion of the sale, the insider directly owned 252,464 shares of the company's stock, valued at $4,544,352. This trade represents a 37.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Anton J. Levy acquired 75,000 shares of Warner Bros. Discovery stock in a transaction on Tuesday, August 12th. The stock was acquired at an average cost of $11.00 per share, for a total transaction of $825,000.00. Following the purchase, the director owned 949,000 shares of the company's stock, valued at approximately $10,439,000. This represents a 8.58% increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.90% of the company's stock.

Warner Bros. Discovery Trading Up 16.7%

Shares of WBD stock opened at $18.87 on Monday. The company has a market capitalization of $46.72 billion, a P/E ratio of 62.90, a P/E/G ratio of 2.51 and a beta of 1.59. Warner Bros. Discovery, Inc. has a 12-month low of $7.25 and a 12-month high of $19.33. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.92. The firm has a 50-day moving average price of $12.40 and a 200 day moving average price of $10.66.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $9.81 billion during the quarter, compared to analyst estimates of $9.73 billion. During the same quarter last year, the business posted ($4.07) earnings per share. The company's revenue was up 1.0% on a year-over-year basis. Research analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently commented on the company. Citigroup reduced their target price on Warner Bros. Discovery from $15.00 to $14.00 and set a "buy" rating for the company in a research report on Thursday, May 29th. Barclays lifted 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 report on Wednesday, July 9th. Guggenheim reissued a "buy" rating on shares of Warner Bros. Discovery in a research report on Tuesday, June 10th. KeyCorp cut their price target on shares of Warner Bros. Discovery from $18.00 to $16.00 and set an "overweight" rating for the company in a research note on Friday, August 8th. Finally, UBS Group lifted their price objective on Warner Bros. Discovery from $9.00 to $10.00 and gave the company a "neutral" rating in a report on Tuesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eleven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Warner Bros. Discovery presently has a consensus rating of "Moderate Buy" and a consensus target price of $13.20.

Warner Bros. Discovery 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.

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