Dimensional Fund Advisors LP Has $137.70 Million Stock Position in Warner Bros. Discovery, Inc. $WBD

Key Points

• Dimensional Fund Advisors LP increased its stake in Warner Bros. Discovery by 63.7%, now owning approximately 12.84 million shares valued at $137.7 million.
• Warner Bros. Discovery reported quarterly earnings of $0.63 per share, significantly beating the consensus estimate of ($0.16) by $0.79, with revenues of $9.81 billion.
• Analysts have mixed ratings for the stock, with an average target price of $13.14, reflecting a range of opinions from strong buy to hold.

Dimensional Fund Advisors LP increased its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 63.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,839,389 shares of the company's stock after purchasing an additional 4,994,894 shares during the period. Dimensional Fund Advisors LP owned approximately 0.52% of Warner Bros. Discovery worth $137,700,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Financial Gravity Asset Management Inc. bought a new position in Warner Bros. Discovery during the first quarter worth about $27,000. North Capital Inc. acquired a new stake in shares of Warner Bros. Discovery in the 1st quarter valued at approximately $28,000. Smallwood Wealth Investment Management LLC acquired a new stake in shares of Warner Bros. Discovery in the 1st quarter valued at approximately $29,000. Ameriflex Group Inc. bought a new position in Warner Bros. Discovery during the 4th quarter worth approximately $30,000. Finally, Golden State Wealth Management LLC grew its holdings in Warner Bros. Discovery by 448.0% during the first quarter. Golden State Wealth Management LLC now owns 2,877 shares of the company's stock valued at $31,000 after purchasing an additional 2,352 shares during the period. Institutional investors own 59.95% of the company's stock.

Insider Buying and Selling

In other Warner Bros. Discovery news, Director Anton J. Levy purchased 75,000 shares of the business's stock in a transaction on Tuesday, August 12th. The shares were purchased at an average cost of $11.00 per share, with a total value of $825,000.00. Following the transaction, the director directly owned 949,000 shares of the company's stock, valued at $10,439,000. This represents a 8.58% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on WBD. KeyCorp cut their target price on shares of Warner Bros. Discovery from $18.00 to $16.00 and set an "overweight" rating on the stock in a report on Friday, August 8th. Morgan Stanley upped their price objective on shares of Warner Bros. Discovery from $10.00 to $13.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 6th. 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 research note on Friday, August 8th. Guggenheim reissued a "buy" rating on shares of Warner Bros. Discovery in a research note on Tuesday, June 10th. Finally, Huber Research upgraded Warner Bros. Discovery from a "strong sell" rating to a "strong-buy" rating in a report on Monday, June 9th. 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $13.14.

Warner Bros. Discovery Stock Down 0.2%

Shares of Warner Bros. Discovery stock opened at $11.54 on Thursday. The firm has a market cap of $28.57 billion, a PE ratio of 38.47, a P/E/G ratio of 1.54 and a beta of 1.57. The business's 50 day simple moving average is $11.79 and its 200 day simple moving average is $10.39. 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 52-week low of $6.78 and a 52-week high of $13.86.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $9.81 billion during the quarter, compared to analysts' expectations of $9.73 billion. During the same period last year, the business earned ($4.07) EPS. The business's quarterly revenue was up 1.0% on a year-over-year basis. On average, analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

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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