Beck Mack & Oliver LLC Has $25.19 Million Stock Position in Warner Bros. Discovery, Inc. $WBD

Key Points

• Beck Mack & Oliver LLC reduced its stake in Warner Bros. Discovery by 3.4%, holding approximately $25.19 million worth of shares after selling 81,456 shares in Q1.
• Warner Bros. Discovery reported a surprising EPS of $0.63 for the latest quarter, significantly exceeding analysts' expectations of a loss, alongside a revenue of $9.81 billion.
• Multiple analysts have issued price target adjustments for Warner Bros. Discovery's stock, with Citigroup lowering their target from $15.00 to $14.00, while Barrington Research set a price objective of $16.00.

Beck Mack & Oliver LLC trimmed its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 3.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,347,279 shares of the company's stock after selling 81,456 shares during the period. Beck Mack & Oliver LLC owned approximately 0.10% of Warner Bros. Discovery worth $25,186,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. WPG Advisers LLC acquired a new position in Warner Bros. Discovery in the 1st quarter worth about $26,000. Financial Gravity Asset Management Inc. acquired a new position in Warner Bros. Discovery in the 1st quarter worth about $27,000. North Capital Inc. acquired a new position in Warner Bros. Discovery in the 1st quarter worth about $28,000. Smallwood Wealth Investment Management LLC acquired a new position in Warner Bros. Discovery in the 1st quarter worth about $29,000. Finally, Ameriflex Group Inc. acquired a new position in Warner Bros. Discovery in the 4th quarter worth about $30,000. 59.95% of the stock is owned by institutional investors and hedge funds.

Warner Bros. Discovery Price Performance

Shares of WBD stock opened at $11.64 on Friday. The stock has a 50 day moving average of $11.99 and a two-hundred day moving average of $10.49. 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, Inc. has a 12 month low of $6.78 and a 12 month high of $13.86. The company has a market capitalization of $28.82 billion, a P/E ratio of 38.80, a P/E/G ratio of 1.55 and a beta of 1.57.

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

Analysts Set New Price Targets

Several research analysts have weighed in on WBD shares. Citigroup dropped their target price on Warner Bros. Discovery from $15.00 to $14.00 and set a "buy" rating on the stock in a research report on Thursday, May 29th. Barrington Research reissued an "outperform" rating and set a $16.00 price objective on shares of Warner Bros. Discovery in a report on Wednesday, July 30th. Argus raised Warner Bros. Discovery to a "hold" rating in a report on Tuesday, May 27th. Wells Fargo & Company increased their price objective on Warner Bros. Discovery from $11.00 to $13.00 and gave the company an "equal weight" rating in a report on Friday, August 8th. Finally, Barclays increased their price objective on 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 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. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $13.14.

Insider Activity at Warner Bros. Discovery

In related news, Director Anton J. Levy bought 250,000 shares of the business's stock in a transaction that occurred on Monday, August 11th. The stock was acquired at an average price of $10.90 per share, for a total transaction of $2,725,000.00. Following the transaction, the director directly owned 874,000 shares of the company's stock, valued at $9,526,600. This represents a 40.06% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.90% of the stock is owned by company insiders.

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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