Apollo Management Holdings L.P. Makes New $65.03 Million Investment in Warner Bros. Discovery, Inc. $WBD

Key Points

• Apollo Management Holdings L.P. has made a new investment of $65.03 million in Warner Bros. Discovery, acquiring approximately 6.06 million shares, which represents about 1.2% of its investment portfolio.
• Warner Bros. Discovery reported a quarterly earnings per share (EPS) of $0.63, significantly surpassing analysts' expectations of a loss, alongside a year-over-year revenue increase of 1.0% to $9.81 billion.
• The company has a current market capitalization of approximately $28.82 billion, with various analysts setting a consensus target price of $13.14 for its shares.

Apollo Management Holdings L.P. bought a new stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 6,060,627 shares of the company's stock, valued at approximately $65,031,000. Warner Bros. Discovery comprises about 1.2% of Apollo Management Holdings L.P.'s investment portfolio, making the stock its 9th biggest holding. Apollo Management Holdings L.P. owned approximately 0.25% of Warner Bros. Discovery as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. WPG Advisers LLC acquired a new position in shares of Warner Bros. Discovery during the 1st quarter valued at about $26,000. Financial Gravity Asset Management Inc. purchased a new stake in Warner Bros. Discovery in the first quarter valued at approximately $27,000. North Capital Inc. acquired a new position in Warner Bros. Discovery during the first quarter worth approximately $28,000. Smallwood Wealth Investment Management LLC acquired a new position in Warner Bros. Discovery during the first quarter worth approximately $29,000. Finally, Ameriflex Group Inc. purchased a new position in Warner Bros. Discovery during the fourth quarter worth approximately $30,000. 59.95% of the stock is owned by institutional investors and hedge funds.

Warner Bros. Discovery Stock Performance

Warner Bros. Discovery stock opened at $11.64 on Tuesday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.04 and a current ratio of 1.04. Warner Bros. Discovery, Inc. has a one year low of $6.78 and a one year high of $13.86. The stock's 50 day moving average price is $12.01 and its 200 day moving average price is $10.50. The firm has a market capitalization of $28.82 billion, a PE ratio of 38.80, a price-to-earnings-growth ratio of 1.55 and a beta of 1.59.

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 (EPS) for the quarter, beating analysts' consensus estimates 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 net margin of 2.00% and a return on equity of 2.14%. The business's quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the firm posted ($4.07) earnings per share. As a group, sell-side analysts expect that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Anton J. Levy acquired 250,000 shares of the firm's stock in a transaction on Monday, August 11th. The stock was bought at an average cost of $10.90 per share, with a total value of $2,725,000.00. Following the transaction, the director directly owned 874,000 shares in the company, valued at approximately $9,526,600. This represents a 40.06% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

WBD has been the topic of a number of research analyst reports. Bank of America lifted their target price on Warner Bros. Discovery from $14.00 to $16.00 and gave the company a "buy" rating in a report on Tuesday, July 1st. Needham & Company LLC reaffirmed a "hold" rating on shares of Warner Bros. Discovery in a research note on Tuesday, June 10th. Barrington Research reissued an "outperform" rating and set a $16.00 target price on shares of Warner Bros. Discovery in a research report on Wednesday, July 30th. Argus raised shares of Warner Bros. Discovery to a "hold" rating in a research report on Tuesday, May 27th. Finally, Raymond James Financial decreased their price objective on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an "outperform" rating for the company in a research note on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently 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.

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