HBK Investments L P Purchases Shares of 1,580,000 Warner Bros. Discovery, Inc. $WBD

Key Points

• HBK Investments L P has invested approximately $16.95 million in Warner Bros. Discovery, acquiring 1,580,000 shares, making it the firm's 28th largest holding.
• A director of Warner Bros. Discovery, Anton J. Levy, increased his stake in the company by purchasing 250,000 shares for about $2.7 million, representing a 40.06% increase in his position.
• The company's quarterly earnings surpassed estimates, reporting $0.63 EPS against a consensus estimate of ($0.16), along with revenue growth to $9.81 billion year-over-year.

HBK Investments L P purchased a new position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,580,000 shares of the company's stock, valued at approximately $16,953,000. Warner Bros. Discovery makes up approximately 0.4% of HBK Investments L P's investment portfolio, making the stock its 28th largest position. HBK Investments L P owned approximately 0.06% of Warner Bros. Discovery as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in WBD. WPG Advisers LLC purchased a new position in Warner Bros. Discovery in the first quarter valued at about $26,000. Financial Gravity Asset Management Inc. purchased a new position in Warner Bros. Discovery in the first quarter valued at about $27,000. North Capital Inc. purchased a new position in Warner Bros. Discovery in the first quarter valued at about $28,000. Smallwood Wealth Investment Management LLC purchased a new position in Warner Bros. Discovery in the first quarter valued at about $29,000. Finally, Ameriflex Group Inc. purchased a new position in Warner Bros. Discovery in the fourth quarter valued at about $30,000. 59.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on WBD shares. Morgan Stanley increased their target price on shares of Warner Bros. Discovery from $10.00 to $13.00 and gave the company an "equal weight" rating in a report on Wednesday, August 6th. Huber Research raised shares of Warner Bros. Discovery from a "strong sell" rating to a "strong-buy" rating in a report on Monday, June 9th. Argus upgraded shares of Warner Bros. Discovery to a "hold" rating in a research report on Tuesday, May 27th. UBS Group increased their price target on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the company a "neutral" rating in a research report on Tuesday, July 8th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Warner Bros. Discovery in a research report on Tuesday, June 10th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eleven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $13.14.

Insider Transactions at Warner Bros. Discovery

In related news, Director Anton J. Levy purchased 75,000 shares of the firm's stock in a transaction on Tuesday, August 12th. The shares were bought at an average price of $11.00 per share, for a total transaction of $825,000.00. Following the acquisition, the director directly owned 949,000 shares in the company, valued at $10,439,000. This trade represents a 8.58% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.80% of the company's stock.

Warner Bros. Discovery Trading Up 2.6%

NASDAQ WBD traded up $0.30 during mid-day trading on Wednesday, reaching $11.92. 74,227,565 shares of the stock were exchanged, compared to its average volume of 43,762,600. Warner Bros. Discovery, Inc. has a 1-year low of $6.78 and a 1-year high of $13.86. The business's fifty day simple moving average is $12.04 and its 200 day simple moving average is $10.52. The stock has a market capitalization of $29.51 billion, a PE ratio of 39.73, a PEG 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 (NASDAQ:WBD - Get Free Report) last announced its earnings results 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. 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 quarter last year, the business earned ($4.07) earnings per share. Warner Bros. Discovery's revenue was up 1.0% compared to the same quarter last year. On average, research analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

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.