Banque Transatlantique SA Buys New Position in Warner Bros. Discovery, Inc. $WBD

Key Points

• Banque Transatlantique SA acquired a new stake in Warner Bros. Discovery, purchasing 666,129 shares valued at approximately $6.6 million.
• Warner Bros. Discovery reported $0.63 EPS for the last quarter, significantly beating analysts' expectations of ($0.16) and achieving a revenue of $9.81 billion.
• Despite recent institutional investments, the stock is currently trading around $11.62, with an average analyst price target of $13.14 indicating potential growth.

Banque Transatlantique SA bought a new stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 666,129 shares of the company's stock, valued at approximately $6,605,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AQR Capital Management LLC grew its stake in Warner Bros. Discovery by 37.2% in the first quarter. AQR Capital Management LLC now owns 1,063,929 shares of the company's stock worth $11,028,000 after purchasing an additional 288,204 shares during the period. Apollo Management Holdings L.P. purchased a new stake in Warner Bros. Discovery in the first quarter worth $65,031,000. Federation des caisses Desjardins du Quebec grew its stake in Warner Bros. Discovery by 16.0% in the first quarter. Federation des caisses Desjardins du Quebec now owns 121,661 shares of the company's stock worth $1,306,000 after purchasing an additional 16,761 shares during the period. Chiron Capital Management LLC grew its stake in Warner Bros. Discovery by 4.8% in the first quarter. Chiron Capital Management LLC now owns 87,690 shares of the company's stock worth $941,000 after purchasing an additional 4,000 shares during the period. Finally, HBK Investments L P purchased a new stake in Warner Bros. Discovery in the first quarter worth $16,953,000. 59.95% of the stock is owned by hedge funds and other institutional investors.

Warner Bros. Discovery Trading Down 0.2%

Warner Bros. Discovery stock opened at $11.62 on Wednesday. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.04 and a quick 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 has a market capitalization of $28.77 billion, a PE ratio of 38.73, a price-to-earnings-growth ratio of 1.55 and a beta of 1.59. The business's fifty day moving average is $12.02 and its 200 day moving average is $10.51.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.63 EPS for the quarter, beating the consensus estimate of ($0.16) by $0.79. Warner Bros. Discovery had a return on equity of 2.14% and a net margin of 2.00%.The company had revenue of $9.81 billion for the quarter, compared to analysts' expectations of $9.73 billion. During the same period last year, the firm posted ($4.07) earnings per share. Warner Bros. Discovery's revenue was up 1.0% compared to the same quarter last year. On average, sell-side analysts predict that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Insider Activity at Warner Bros. Discovery

In other Warner Bros. Discovery news, Director Anton J. Levy acquired 75,000 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The shares were bought at an average cost of $11.00 per share, with a total value of $825,000.00. Following the completion of the transaction, the director directly 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on WBD shares. Barrington Research reaffirmed an "outperform" rating and issued a $16.00 price target on shares of Warner Bros. Discovery in a research note on Wednesday, July 30th. Benchmark reaffirmed a "buy" rating and issued a $18.00 price target on shares of Warner Bros. Discovery in a research note on Monday, July 14th. Morgan Stanley increased their target price on Warner Bros. Discovery from $10.00 to $13.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 6th. Raymond James Financial cut their target price on Warner Bros. Discovery from $14.00 to $13.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. Finally, Barclays increased their target price on Warner Bros. Discovery from $9.00 to $13.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eleven have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target 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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