Hsbc Holdings PLC Purchases 346,598 Shares of Warner Bros. Discovery, Inc. $WBD

Key Points

• Hsbc Holdings PLC increased its stake in Warner Bros. Discovery, Inc. by 7.2% to own approximately 5.13 million shares valued at $54.9 million as of its latest SEC filing.
• Director Anton J. Levy purchased 250,000 shares of Warner Bros. Discovery at an average price of $10.90, marking a 40.06% increase in his ownership of the stock.
• Warner Bros. Discovery reported earnings of $0.63 per share for the last quarter, significantly exceeding analysts' predictions of a loss, and the company’s stock price opened at $11.59.

Hsbc Holdings PLC grew its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 7.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,129,846 shares of the company's stock after acquiring an additional 346,598 shares during the quarter. Hsbc Holdings PLC owned about 0.21% of Warner Bros. Discovery worth $54,936,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Financial Gravity Asset Management Inc. bought a new stake in Warner Bros. Discovery during the first quarter worth $27,000. North Capital Inc. bought a new stake in Warner Bros. Discovery during the first quarter worth $28,000. Smallwood Wealth Investment Management LLC bought a new stake in Warner Bros. Discovery during the first quarter worth $29,000. Ameriflex Group Inc. bought a new stake in Warner Bros. Discovery during the fourth quarter worth $30,000. Finally, Golden State Wealth Management LLC grew its holdings in Warner Bros. Discovery by 448.0% during the first quarter. Golden State Wealth Management LLC now owns 2,877 shares of the company's stock worth $31,000 after buying an additional 2,352 shares in the last quarter. Institutional investors own 59.95% of the company's stock.

Insider Activity at Warner Bros. Discovery

In other news, Director Anton J. Levy purchased 250,000 shares of the company's stock in a transaction dated Monday, August 11th. The shares were purchased at an average price of $10.90 per share, with a total value of $2,725,000.00. Following the transaction, the director directly owned 874,000 shares of the company's stock, valued at approximately $9,526,600. This represents a 40.06% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.90% of the stock is owned by corporate insiders.

Warner Bros. Discovery Stock Up 0.4%

Shares of NASDAQ WBD opened at $11.59 on Friday. Warner Bros. Discovery, Inc. has a one year low of $6.78 and a one year high of $13.86. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.04 and a quick ratio of 1.04. The business's fifty day moving average price is $11.81 and its 200-day moving average price is $10.40. The stock has a market capitalization of $28.69 billion, a PE ratio of 38.63, a P/E/G ratio of 1.54 and a beta of 1.57.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.63 EPS for the quarter, beating analysts' consensus estimates of ($0.16) by $0.79. Warner Bros. Discovery had a return on equity of 2.14% and a net margin of 2.00%.The firm had revenue of $9.81 billion for the quarter, compared to analysts' expectations of $9.73 billion. During the same quarter in the prior year, the firm earned ($4.07) EPS. The business's revenue for the quarter was up 1.0% compared to the same quarter last year. On average, equities research analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Wall Street Analyst Weigh In

WBD has been the subject of several recent research reports. Wells Fargo & Company upped their price target on Warner Bros. Discovery from $11.00 to $13.00 and gave the stock an "equal weight" rating in a report on Friday, August 8th. Argus raised Warner Bros. Discovery to a "hold" rating in a research report on Tuesday, May 27th. Guggenheim reissued a "buy" rating on shares of Warner Bros. Discovery in a research report on Tuesday, June 10th. Citigroup cut their price objective 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. Finally, Needham & Company LLC reissued a "hold" rating on shares of Warner Bros. Discovery in a research report on Tuesday, June 10th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eleven have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $13.14.

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.

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