Douglas Lane & Associates LLC Has $20.38 Million Position in Warner Bros. Discovery, Inc. $WBD

Key Points

• Douglas Lane & Associates LLC increased its stake in Warner Bros. Discovery, owning approximately $20.38 million worth of the company after adding 21,303 shares in the second quarter.
• Warner Bros. Discovery reported earnings of $0.63 per share for the last quarter, significantly surpassing analysts' expectation of a loss, while revenue rose to $9.81 billion.
• Institutional investors hold about 59.95% of Warner Bros. Discovery's stock, with notable investments from firms like Independent Franchise Partners LLP and KBC Group NV.

Douglas Lane & Associates LLC raised its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 1.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,778,592 shares of the company's stock after buying an additional 21,303 shares during the quarter. Douglas Lane & Associates LLC owned about 0.07% of Warner Bros. Discovery worth $20,383,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of WBD. Independent Franchise Partners LLP bought a new position in Warner Bros. Discovery in the first quarter valued at approximately $140,224,000. Nuveen LLC bought a new position in Warner Bros. Discovery in the first quarter valued at approximately $96,971,000. KBC Group NV lifted its stake in Warner Bros. Discovery by 682.8% in the first quarter. KBC Group NV now owns 7,145,308 shares of the company's stock valued at $76,669,000 after buying an additional 6,232,561 shares in the last quarter. Sachem Head Capital Management LP bought a new position in Warner Bros. Discovery in the fourth quarter valued at approximately $64,847,000. Finally, Apollo Management Holdings L.P. bought a new position in Warner Bros. Discovery in the first quarter valued at approximately $65,031,000. Institutional investors own 59.95% of the company's stock.

Warner Bros. Discovery Stock Performance

NASDAQ WBD opened at $18.87 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.92. The firm's fifty day moving average price is $12.40 and its two-hundred day moving average price is $10.66. Warner Bros. Discovery, Inc. has a 1 year low of $7.25 and a 1 year high of $19.33. The firm has a market capitalization of $46.72 billion, a P/E ratio of 62.90, a price-to-earnings-growth ratio of 2.15 and a beta of 1.59.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.63 earnings per share (EPS) 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 firm had revenue of $9.81 billion for the quarter, compared to analyst estimates of $9.73 billion. During the same period in the prior year, the firm posted ($4.07) earnings per share. The company's quarterly revenue was up 1.0% compared to the same quarter last year. As a group, research analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Insider Buying and Selling at Warner Bros. Discovery

In other news, Director Anton J. Levy purchased 75,000 shares of the company'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 completion of the transaction, the director owned 949,000 shares of the company's stock, valued at $10,439,000. The trade was a 8.58% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bruce Campbell sold 150,000 shares of the company's stock in a transaction on Friday, September 12th. The stock was sold at an average price of $18.00, for a total transaction of $2,700,000.00. Following the sale, the insider directly owned 252,464 shares in the company, valued at $4,544,352. This trade represents a 37.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. 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. UBS Group boosted their price objective on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 8th. Morgan Stanley boosted their price objective on shares of Warner Bros. Discovery from $10.00 to $13.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 6th. Bank of America boosted their price objective on shares of Warner Bros. Discovery from $14.00 to $16.00 and gave the stock a "buy" rating in a research report on Tuesday, July 1st. Finally, Argus raised shares of Warner Bros. Discovery to a "hold" rating in a research report on Tuesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eleven have given a Hold rating to the company's stock. According to data from MarketBeat.com, Warner Bros. Discovery has an average rating of "Moderate Buy" and an average price target of $13.20.

Warner Bros. Discovery 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.

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