Warner Bros. Discovery, Inc. (NASDAQ:WBD) Position Raised by HB Wealth Management LLC

Key Points

• HB Wealth Management LLC increased its stake in Warner Bros. Discovery, Inc. by 13.4%, owning a total of 272,734 shares valued at approximately $2.93 million as of the end of the first quarter.
• Warner Bros. Discovery reported a quarterly earnings miss, with an EPS of ($0.18), falling short of analyst expectations, while revenue decreased by 9.8% year-over-year.
• A variety of institutional investors have recently modified their positions in Warner Bros. Discovery, with hedge funds owning nearly 60% of the company's stock.

HB Wealth Management LLC boosted its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 13.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 272,734 shares of the company's stock after buying an additional 32,184 shares during the quarter. HB Wealth Management LLC's holdings in Warner Bros. Discovery were worth $2,926,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. 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. bought a new stake in Warner Bros. Discovery in the first quarter valued at about $27,000. North Capital Inc. bought a new stake in Warner Bros. Discovery in the first quarter valued at about $28,000. Smallwood Wealth Investment Management LLC bought a new stake in Warner Bros. Discovery in the first quarter valued at about $29,000. Finally, Ameriflex Group Inc. bought a new stake in Warner Bros. Discovery in the fourth quarter valued at about $30,000. 59.95% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on WBD shares. Morgan Stanley lowered their price objective on Warner Bros. Discovery from $12.00 to $10.00 and set an "equal weight" rating for the company in a report on Tuesday, May 6th. Benchmark restated a "buy" rating and issued a $18.00 target price on shares of Warner Bros. Discovery in a research note on Monday, July 14th. Guggenheim restated a "buy" rating on shares of Warner Bros. Discovery in a research note on Tuesday, June 10th. Wells Fargo & Company lifted their target price on Warner Bros. Discovery from $10.00 to $11.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 2nd. Finally, Citigroup decreased their target price on Warner Bros. Discovery from $15.00 to $14.00 and set a "buy" rating for the company in a research note on Thursday, May 29th. Twelve analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $12.41.

Warner Bros. Discovery Stock Performance

Shares of NASDAQ WBD traded up $0.21 during midday trading on Monday, hitting $13.70. 97,024,778 shares of the company's stock were exchanged, compared to its average volume of 72,306,728. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.84 and a quick ratio of 0.84. The stock's 50 day moving average price is $10.85 and its 200-day moving average price is $10.12. The firm has a market cap of $33.63 billion, a P/E ratio of -3.11 and a beta of 1.54. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $13.87.

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