Warner Bros. Discovery, Inc. $WBD Shares Bought by American Century Companies Inc.

Key Points

• American Century Companies Inc. has increased its stake in Warner Bros. Discovery to $23.11 million, representing a 19.8% increase in the first quarter.
• Warner Bros. Discovery reported a quarterly earnings beat with $0.63 EPS, exceeding estimates by $0.79, and its revenue was up 1.0% year-over-year.
• Institutional investors now own 59.95% of Warner Bros. Discovery's stock, indicating strong institutional interest in the company.

American Century Companies Inc. lifted its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 19.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,153,859 shares of the company's stock after buying an additional 356,523 shares during the quarter. American Century Companies Inc. owned about 0.09% of Warner Bros. Discovery worth $23,111,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Financial Gravity Asset Management Inc. acquired a new position in shares of Warner Bros. Discovery in the 1st quarter valued at $27,000. North Capital Inc. acquired a new stake in Warner Bros. Discovery in the 1st quarter valued at approximately $28,000. Smallwood Wealth Investment Management LLC acquired a new position in Warner Bros. Discovery during the first quarter worth $29,000. Ameriflex Group Inc. bought a new stake in Warner Bros. Discovery during the fourth quarter worth about $30,000. Finally, Golden State Wealth Management LLC lifted its stake in Warner Bros. Discovery by 448.0% in the first quarter. Golden State Wealth Management LLC now owns 2,877 shares of the company's stock valued at $31,000 after acquiring an additional 2,352 shares during the last quarter. Institutional investors own 59.95% of the company's stock.

Warner Bros. Discovery Trading Down 2.0%

Shares of NASDAQ:WBD traded down $0.24 during trading on Tuesday, hitting $11.80. The company had a trading volume of 57,911,792 shares, compared to its average volume of 49,056,952. 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 stock has a market cap of $29.21 billion, a price-to-earnings ratio of 40.13, a price-to-earnings-growth ratio of 1.60 and a beta of 1.57. The company has a fifty day simple moving average of $11.90 and a two-hundred day simple moving average of $10.44. Warner Bros. Discovery, Inc. has a one year low of $6.78 and a one year high of $13.86.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.63 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $9.81 billion for the quarter, compared to the consensus estimate of $9.73 billion. During the same quarter in the previous year, the firm earned ($4.07) EPS. The company's quarterly revenue was up 1.0% compared to the same quarter last year. As a group, equities analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Insider Buying and Selling at Warner Bros. Discovery

In related news, Director Anton J. Levy acquired 250,000 shares of the firm's stock in a transaction dated Monday, August 11th. The stock was acquired at an average price of $10.90 per share, with a total value of $2,725,000.00. Following the acquisition, the director directly owned 874,000 shares in the company, valued at $9,526,600. This represents a 40.06% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.80% of the company's stock.

Analyst Ratings Changes

WBD has been the topic of several recent research reports. Huber Research raised shares of Warner Bros. Discovery from a "strong sell" rating to a "strong-buy" rating in a report on Monday, June 9th. Barclays raised their price objective on shares of 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. Guggenheim reiterated a "buy" rating on shares of Warner Bros. Discovery in a research note on Tuesday, June 10th. Morgan Stanley boosted their price target on shares of Warner Bros. Discovery from $10.00 to $13.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 6th. Finally, Raymond James Financial dropped their price objective 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. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eleven have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $13.14.

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.