Warner Bros. Discovery, Inc. $WBD Shares Bought by Allstate Corp

Key Points

• Allstate Corp increased its stake in Warner Bros. Discovery by 51.0%, owning 103,796 shares valued at approximately $1,114,000 as of now.
• Warner Bros. Discovery director Anton J. Levy bought 75,000 shares for about $825,000, which increased his stake in the company by 8.58%.
• Equities analysts have mixed views on the company, with a consensus rating of "Moderate Buy" and an average price target of $13.14.

Allstate Corp raised its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 51.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 103,796 shares of the company's stock after purchasing an additional 35,065 shares during the quarter. Allstate Corp's holdings in Warner Bros. Discovery were worth $1,114,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of WBD. Brighton Jones LLC increased its stake in Warner Bros. Discovery by 304.9% during the 4th quarter. Brighton Jones LLC now owns 68,950 shares of the company's stock valued at $729,000 after purchasing an additional 51,920 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Warner Bros. Discovery by 0.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,844,495 shares of the company's stock valued at $82,906,000 after acquiring an additional 65,939 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Warner Bros. Discovery by 2.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,184,016 shares of the company's stock valued at $33,656,000 after acquiring an additional 85,825 shares during the last quarter. Voya Investment Management LLC boosted its holdings in shares of Warner Bros. Discovery by 628.5% in the 4th quarter. Voya Investment Management LLC now owns 5,215,593 shares of the company's stock valued at $55,129,000 after acquiring an additional 4,499,697 shares during the last quarter. Finally, Coldstream Capital Management Inc. boosted its holdings in shares of Warner Bros. Discovery by 14.6% in the 4th quarter. Coldstream Capital Management Inc. now owns 30,155 shares of the company's stock valued at $319,000 after acquiring an additional 3,848 shares during the last quarter. Institutional investors and hedge funds own 59.95% of the company's stock.

Insider Transactions at Warner Bros. Discovery

In other news, Director Anton J. Levy acquired 75,000 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The stock was purchased at an average cost of $11.00 per share, for a total transaction of $825,000.00. Following the completion of the transaction, the director owned 949,000 shares in the company, valued at approximately $10,439,000. This trade represents a 8.58% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.80% of the company's stock.

Warner Bros. Discovery Trading Down 2.0%

Warner Bros. Discovery stock traded down $0.24 during midday trading on Tuesday, hitting $11.80. 57,911,792 shares of the stock were exchanged, compared to its average volume of 49,056,952. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.78 and a fifty-two week high of $13.86. The stock has a market capitalization of $29.21 billion, a price-to-earnings ratio of 39.33, a PEG ratio of 1.60 and a beta of 1.57. The stock's 50-day simple moving average is $11.90 and its 200 day simple moving average is $10.44. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.92.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last released its quarterly earnings data 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. Warner Bros. Discovery had a net margin of 2.00% and a return on equity of 2.14%. The firm had revenue of $9.81 billion during the quarter, compared to analysts' expectations of $9.73 billion. During the same period last year, the business earned ($4.07) earnings per share. Warner Bros. Discovery's revenue was up 1.0% compared to the same quarter last year. On average, equities analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on WBD. Wells Fargo & Company upped their price objective on shares of Warner Bros. Discovery from $11.00 to $13.00 and gave the company an "equal weight" rating in a report on Friday, August 8th. Needham & Company LLC reaffirmed a "hold" rating on shares of Warner Bros. Discovery in a report on Tuesday, June 10th. UBS Group increased their price objective on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the company a "neutral" rating in a report on Tuesday, July 8th. Argus raised shares of Warner Bros. Discovery to a "hold" rating in a report on Tuesday, May 27th. Finally, Barclays increased their price objective 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. One investment 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. According to data from MarketBeat, Warner Bros. Discovery presently has a consensus rating of "Moderate Buy" and a consensus target price 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.