LPL Financial LLC Purchases 81,815 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Key Points

• LPL Financial LLC increased its stake in Warner Bros. Discovery by 8.2%, acquiring an additional 81,815 shares to hold a total of 1,076,134 shares valued at approximately $11.5 million.
• Analyst ratings for Warner Bros. Discovery show a consensus of moderate buy with twelve analysts rating it as hold and eleven giving it a buy rating, alongside a price target average of $12.81.
• The company recently reported earnings of $0.63 per share, significantly exceeding the consensus estimate, with revenue of $9.81 billion for the quarter, marking a 1.0% year-over-year increase.

LPL Financial LLC boosted its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 8.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,076,134 shares of the company's stock after purchasing an additional 81,815 shares during the quarter. LPL Financial LLC's holdings in Warner Bros. Discovery were worth $11,547,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WBD. Colonial Trust Advisors raised its stake 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 purchasing an additional 996 shares in the last quarter. Financial Gravity Asset Management Inc. bought a new stake in shares of Warner Bros. Discovery during the first quarter worth about $27,000. North Capital Inc. bought a new stake in shares of Warner Bros. Discovery during the first quarter worth about $28,000. Smallwood Wealth Investment Management LLC bought a new stake in Warner Bros. Discovery in the first quarter valued at approximately $29,000. Finally, Ameriflex Group Inc. bought a new stake in Warner Bros. Discovery in the fourth quarter valued at approximately $30,000. 59.95% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on WBD. Wells Fargo & Company increased their price target on Warner Bros. Discovery from $10.00 to $11.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 2nd. Argus raised Warner Bros. Discovery to a "hold" rating in a research report on Tuesday, May 27th. Barclays lifted their price objective on Warner Bros. Discovery from $9.00 to $13.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 9th. Barrington Research restated an "outperform" rating and issued a $16.00 target price on shares of Warner Bros. Discovery in a research note on Wednesday, July 30th. Finally, Citigroup dropped their price target on Warner Bros. Discovery from $15.00 to $14.00 and set a "buy" rating for the company in a research report on Thursday, May 29th. Twelve 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's stock. According to MarketBeat.com, Warner Bros. Discovery has an average rating of "Moderate Buy" and a consensus price target of $12.81.

Warner Bros. Discovery Price Performance

WBD opened at $11.86 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.84 and a current ratio of 0.84. Warner Bros. Discovery, Inc. has a 52-week low of $6.64 and a 52-week high of $13.86. The stock has a market capitalization of $29.11 billion, a PE ratio of -2.70 and a beta of 1.57. The stock's 50 day moving average price is $11.50 and its 200-day moving average price is $10.32.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.76. Warner Bros. Discovery had a negative return on equity of 30.56% and a negative net margin of 28.16%. The company had revenue of $9.81 billion for the quarter, compared to analysts' expectations of $9.73 billion. During the same period in the prior year, the firm earned ($4.07) earnings per share. The firm's revenue for the quarter was up 1.0% on a year-over-year basis. On average, equities research analysts predict 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.

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