Hi Line Capital Management LLC Buys 90,462 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Hi Line Capital Management LLC grew its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 17.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 597,478 shares of the company's stock after acquiring an additional 90,462 shares during the period. Warner Bros. Discovery accounts for 2.4% of Hi Line Capital Management LLC's holdings, making the stock its 16th biggest holding. Hi Line Capital Management LLC's holdings in Warner Bros. Discovery were worth $6,411,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of WBD. Vanguard Group Inc. grew its stake in Warner Bros. Discovery by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 252,650,791 shares of the company's stock worth $2,670,519,000 after purchasing an additional 1,658,415 shares in the last quarter. Geode Capital Management LLC boosted its position in Warner Bros. Discovery by 3.6% during the 4th quarter. Geode Capital Management LLC now owns 57,441,931 shares of the company's stock valued at $605,633,000 after acquiring an additional 1,991,441 shares in the last quarter. Norges Bank purchased a new position in shares of Warner Bros. Discovery in the 4th quarter valued at $362,210,000. Slate Path Capital LP increased its holdings in shares of Warner Bros. Discovery by 36.6% in the 4th quarter. Slate Path Capital LP now owns 23,801,000 shares of the company's stock valued at $251,577,000 after acquiring an additional 6,381,000 shares during the period. Finally, The Manufacturers Life Insurance Company raised its position in shares of Warner Bros. Discovery by 7.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 23,608,829 shares of the company's stock worth $249,545,000 after acquiring an additional 1,725,775 shares in the last quarter. 59.95% of the stock is owned by hedge funds and other institutional investors.

Warner Bros. Discovery Stock Up 1.5%

NASDAQ:WBD opened at $10.68 on Tuesday. 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 company's fifty day moving average price is $9.26 and its 200-day moving average price is $9.93. Warner Bros. Discovery, Inc. has a 1-year low of $6.64 and a 1-year high of $12.70. The firm has a market capitalization of $26.22 billion, a P/E ratio of -2.43 and a beta of 1.51.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.06). The company 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%. Warner Bros. Discovery's revenue for the quarter was down 9.8% on a year-over-year basis. During the same period in the prior year, the business posted ($0.40) earnings per share. As a group, equities research analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Huber Research upgraded shares of Warner Bros. Discovery from a "strong sell" rating to a "strong-buy" rating in a report on Monday, June 9th. Raymond James Financial cut their price target on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an "outperform" rating on the stock in a report on Friday, April 4th. Rosenblatt Securities reissued a "neutral" rating and issued a $13.00 price objective on shares of Warner Bros. Discovery in a research report on Friday, March 7th. KeyCorp dropped their target price on Warner Bros. Discovery from $14.00 to $13.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Finally, Argus raised Warner Bros. Discovery to a "hold" rating in a research report on Tuesday, May 27th. Eleven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $12.17.

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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