MBB Public Markets I LLC Acquires Shares of 29,905 Warner Bros. Discovery, Inc. $WBD

Key Points

• MBB Public Markets I LLC acquired 29,905 shares of Warner Bros. Discovery, valued at approximately $321,000, marking a new investment in the company in the first quarter.
• Several institutional investors, including Vanguard Group Inc. and Invesco Ltd., increased their stakes in Warner Bros. Discovery during the same period, with Vanguard now owning over $2.7 billion in shares.
• Analysts have raised their target prices for Warner Bros. Discovery stock, with a consensus rating of "Moderate Buy" and an average target price of $13.14, reflecting positive sentiment towards the company's growth potential.

MBB Public Markets I LLC acquired a new stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 29,905 shares of the company's stock, valued at approximately $321,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings 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 Warner Bros. Discovery by 2.1% in the first quarter. Invesco Ltd. now owns 43,341,297 shares of the company's stock valued at $465,052,000 after buying an additional 873,869 shares in the last quarter. Sessa Capital IM L.P. increased its holdings in Warner Bros. Discovery by 4.0% in the first quarter. Sessa Capital IM L.P. now owns 29,555,277 shares of the company's stock valued at $317,128,000 after buying an additional 1,144,849 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Warner Bros. Discovery by 4.5% in the first quarter. The Manufacturers Life Insurance Company now owns 24,672,364 shares of the company's stock valued at $264,734,000 after buying an additional 1,063,535 shares in the last quarter. Finally, Northern Trust Corp increased 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 buying an additional 430,787 shares in the last quarter. Hedge funds and other institutional investors own 59.95% of the company's stock.

Insider Buying and Selling at Warner Bros. Discovery

In other news, Director Anton J. Levy acquired 75,000 shares of Warner Bros. Discovery stock in a transaction dated Tuesday, August 12th. The shares were acquired at an average cost of $11.00 per share, for a total transaction of $825,000.00. Following the acquisition, the director owned 949,000 shares of the company's stock, valued at $10,439,000. This trade represents a 8.58% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.80% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on WBD. Wells Fargo & Company boosted their target price on shares of Warner Bros. Discovery from $11.00 to $13.00 and gave the stock an "equal weight" rating in a research note on Friday, August 8th. Morgan Stanley upped their price objective on shares of Warner Bros. Discovery from $10.00 to $13.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 6th. Barclays upped their price objective on shares of Warner Bros. Discovery from $9.00 to $13.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 9th. KeyCorp dropped their price target on shares of Warner Bros. Discovery from $18.00 to $16.00 and set an "overweight" rating for the company in a research note on Friday, August 8th. Finally, Citigroup dropped their price target on shares of Warner Bros. Discovery from $15.00 to $14.00 and set a "buy" rating for the company in a research note on Thursday, May 29th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, Warner Bros. Discovery has a consensus rating of "Moderate Buy" and an average target price of $13.14.

Warner Bros. Discovery Price Performance

Warner Bros. Discovery stock opened at $12.35 on Tuesday. The firm has a market cap of $30.58 billion, a PE ratio of 41.17, a price-to-earnings-growth ratio of 1.61 and a beta of 1.59. Warner Bros. Discovery, Inc. has a 52-week low of $6.78 and a 52-week high of $13.86. 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 company's 50 day moving average is $12.09 and its two-hundred day moving average is $10.54.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.63 earnings per share for the quarter, beating 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 business had revenue of $9.81 billion for the quarter, compared to analyst estimates of $9.73 billion. During the same period last year, the business earned ($4.07) EPS. The company's revenue was up 1.0% on a year-over-year basis. On average, research analysts expect that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

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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