BIT Capital GmbH Invests $521,000 in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Key Points

• BIT Capital GmbH has acquired a new stake in Warner Bros. Discovery, purchasing 48,533 shares valued at approximately $521,000 during the first quarter.
• Recent institutional activities have seen significant increases in holdings, with Brighton Jones LLC raising its stake by 304.9% and National Bank of Canada FI by 3,207.3% in the last quarter.
• Warner Bros. Discovery reported a loss of $0.18 EPS for the last quarter, missing estimates and showing a 9.8% decline in revenue year-over-year.

BIT Capital GmbH purchased a new position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 48,533 shares of the company's stock, valued at approximately $521,000.

Several other hedge funds also recently bought and sold shares of the stock. Colonial Trust Advisors increased its holdings in Warner Bros. Discovery by 71.8% in the fourth quarter. Colonial Trust Advisors now owns 2,383 shares of the company's stock valued at $25,000 after buying an additional 996 shares during the last quarter. Financial Gravity Asset Management Inc. acquired a new position in shares of Warner Bros. Discovery during the first quarter worth approximately $27,000. North Capital Inc. acquired a new stake in Warner Bros. Discovery in the first quarter worth approximately $28,000. Smallwood Wealth Investment Management LLC acquired a new stake in Warner Bros. Discovery in the first quarter worth approximately $29,000. Finally, Ameriflex Group Inc. acquired a new stake in shares of Warner Bros. Discovery during the 4th quarter valued at $30,000. Hedge funds and other institutional investors own 59.95% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on WBD. Wells Fargo & Company increased their price objective on Warner Bros. Discovery from $10.00 to $11.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 2nd. Morgan Stanley dropped their price target on shares of Warner Bros. Discovery from $12.00 to $10.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 6th. KeyCorp boosted their price target on Warner Bros. Discovery from $13.00 to $18.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. UBS Group upped their price target 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. Finally, Huber Research upgraded shares of Warner Bros. Discovery from a "strong sell" rating to a "strong-buy" rating in a research note on Monday, June 9th. Twelve investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $12.66.

Warner Bros. Discovery Trading Down 1.9%

WBD traded down $0.25 during trading on Tuesday, reaching $12.55. 16,922,260 shares of the company's stock were exchanged, compared to its average volume of 46,643,598. The company's fifty day moving average price is $11.34 and its 200-day moving average price is $10.27. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.84 and a current ratio of 0.84. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.64 and a fifty-two week high of $13.86. The firm has a market capitalization of $30.81 billion, a PE ratio of -2.85 and a beta of 1.57.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported ($0.18) EPS for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.06). Warner Bros. Discovery had a negative return on equity of 30.56% and a negative net margin of 28.16%. The business had revenue of $8.98 billion for the quarter, compared to analyst estimates of $9.66 billion. During the same period in the prior year, the firm posted ($0.40) EPS. Warner Bros. Discovery's revenue was down 9.8% on a year-over-year basis. As a group, equities analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Warner Bros. Discovery Company 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.