Hudson Edge Investment Partners Inc. Increases Position in Warner Bros. Discovery, Inc. $WBD

Key Points

• Hudson Edge Investment Partners Inc. increased its stake in Warner Bros. Discovery by 10.6% during the second quarter, acquiring a total of 566,188 shares valued at approximately $6.49 million.
• Warner Bros. Discovery's stock recently reported a 0.6% decline, with its current market cap at $47.63 billion and a fifty-two week price range between $7.25 and $20.24.
• In its latest earnings report, Warner Bros. Discovery posted an EPS of $0.63, significantly beating analyst expectations while reporting a 1.0% revenue increase year-over-year.

Hudson Edge Investment Partners Inc. lifted its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 10.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 566,188 shares of the company's stock after purchasing an additional 54,389 shares during the period. Warner Bros. Discovery comprises approximately 1.1% of Hudson Edge Investment Partners Inc.'s portfolio, making the stock its 28th largest position. Hudson Edge Investment Partners Inc.'s holdings in Warner Bros. Discovery were worth $6,489,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Warner Bros. Discovery by 1.7% in the first quarter. Vanguard Group Inc. now owns 256,820,031 shares of the company's stock valued at $2,755,679,000 after buying an additional 4,169,240 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Warner Bros. Discovery by 2.1% in the 1st quarter. Invesco Ltd. now owns 43,341,297 shares of the company's stock valued at $465,052,000 after acquiring an additional 873,869 shares during the last quarter. Sessa Capital IM L.P. raised its position in shares of Warner Bros. Discovery by 4.0% during the 1st quarter. Sessa Capital IM L.P. now owns 29,555,277 shares of the company's stock worth $317,128,000 after acquiring an additional 1,144,849 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Warner Bros. Discovery by 4.5% during the first quarter. The Manufacturers Life Insurance Company now owns 24,672,364 shares of the company's stock worth $264,734,000 after purchasing an additional 1,063,535 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in Warner Bros. Discovery by 1.9% in the first quarter. Northern Trust Corp now owns 23,427,661 shares of the company's stock valued at $251,379,000 after purchasing an additional 430,787 shares in the last quarter. Institutional investors and hedge funds own 59.95% of the company's stock.

Warner Bros. Discovery Stock Down 0.6%

Shares of NASDAQ:WBD opened at $19.24 on Friday. Warner Bros. Discovery, Inc. has a fifty-two week low of $7.25 and a fifty-two week high of $20.24. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.92. The firm's 50-day simple moving average is $14.34 and its 200-day simple moving average is $11.48. The company has a market cap of $47.63 billion, a price-to-earnings ratio of 64.14, a PEG ratio of 2.47 and a beta of 1.73.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $9.73 billion. During the same period in the prior year, the company posted ($4.07) earnings per share. The firm's revenue for the quarter was up 1.0% on a year-over-year basis. As a group, equities research analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Insider Activity

In other Warner Bros. Discovery news, Director Anton J. Levy bought 75,000 shares of Warner Bros. Discovery stock in a transaction on Tuesday, August 12th. The stock was bought at an average price of $11.00 per share, with a total value of $825,000.00. Following the completion of the acquisition, the director owned 949,000 shares in the company, valued at $10,439,000. The trade was a 8.58% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Bruce Campbell sold 150,000 shares of the business's stock in a transaction on Friday, September 12th. The stock was sold at an average price of $18.00, for a total transaction of $2,700,000.00. Following the sale, the insider owned 252,464 shares in the company, valued at $4,544,352. The trade was a 37.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 970,115 shares of company stock valued at $17,818,490 in the last three months. 1.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on WBD. Wells Fargo & Company raised their price objective on shares of Warner Bros. Discovery from $13.00 to $14.00 and gave the stock an "equal weight" rating in a report on Thursday, September 11th. UBS Group boosted 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. Moffett Nathanson raised their price objective on Warner Bros. Discovery from $14.00 to $23.00 and gave the stock a "buy" rating in a report on Monday, September 22nd. Guggenheim reissued a "buy" rating on shares of Warner Bros. Discovery in a report on Tuesday, June 10th. Finally, Benchmark reissued a "buy" rating and issued a $18.00 target price on shares of Warner Bros. Discovery in a research report on Monday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and fifteen have issued a Hold rating to the company. According to data from MarketBeat.com, Warner Bros. Discovery has a consensus rating of "Hold" and an average target price of $15.14.

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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