DRW Securities LLC Acquires Shares of 35,000 Warner Bros. Discovery, Inc. $WBD

Key Points

• DRW Securities LLC has acquired 35,000 shares of Warner Bros. Discovery, Inc., valued at approximately $376,000, as reported in their recent SEC filing.
• The company has seen significant institutional investment, with KBC Group NV increasing their stake by 682.8% in the first quarter, now holding over $76 million worth of shares.
• In their latest earnings report, Warner Bros. Discovery reported a surprising earnings per share of $0.63, exceeding analysts' expectations and showing a revenue increase of 1.0% year-over-year.

DRW Securities LLC acquired a new stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 35,000 shares of the company's stock, valued at approximately $376,000.

Other institutional investors have also recently bought and sold shares of the company. GF Fund Management CO. LTD. bought a new position in Warner Bros. Discovery in the 4th quarter valued at $4,914,000. Polar Asset Management Partners Inc. bought a new position in Warner Bros. Discovery in the 4th quarter valued at $3,022,000. Hi Line Capital Management LLC grew its stake in Warner Bros. Discovery by 17.8% in the 1st quarter. Hi Line Capital Management LLC now owns 597,478 shares of the company's stock valued at $6,411,000 after purchasing an additional 90,462 shares during the period. KBC Group NV grew its stake in Warner Bros. Discovery by 682.8% in the 1st quarter. KBC Group NV now owns 7,145,308 shares of the company's stock valued at $76,669,000 after purchasing an additional 6,232,561 shares during the period. Finally, Dupree Financial Group LLC bought a new position in Warner Bros. Discovery in the 1st quarter valued at $2,884,000. Institutional investors own 59.95% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on WBD shares. UBS Group upped their price target on Warner Bros. Discovery from $9.00 to $10.00 and gave the company a "neutral" rating in a research report on Tuesday, July 8th. Citigroup dropped their price target 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. Raymond James Financial dropped their price target on Warner Bros. Discovery from $14.00 to $13.00 and set an "outperform" rating on the stock in a research report on Friday, August 8th. Morgan Stanley upped their price target on 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. Finally, Wells Fargo & Company upped their price target on Warner Bros. Discovery from $11.00 to $13.00 and gave the company an "equal weight" rating in a research report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eleven have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $13.14.

Warner Bros. Discovery Stock Performance

Shares of WBD opened at $11.64 on Tuesday. The stock's 50-day simple moving average is $12.01 and its 200 day simple moving average is $10.50. The stock has a market capitalization of $28.82 billion, a price-to-earnings ratio of 38.80, a price-to-earnings-growth ratio of 1.55 and a beta of 1.59. 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 data on Thursday, August 7th. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.16) by $0.79. The business had revenue of $9.81 billion for the quarter, compared to analysts' expectations of $9.73 billion. Warner Bros. Discovery had a return on equity of 2.14% and a net margin of 2.00%.The firm's quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($4.07) EPS. Research analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Insider Transactions at Warner Bros. Discovery

In related 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 acquired at an average price of $11.00 per share, with a total value of $825,000.00. Following the acquisition, the director owned 949,000 shares of the company's stock, valued at approximately $10,439,000. This trade represents a 8.58% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.80% of the company's stock.

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.

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