Mizuho Securities USA LLC Has $1.92 Million Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Key Points

• Mizuho Securities USA LLC has reduced its holdings in Warner Bros. Discovery by 15.5%, selling 32,833 shares and now owns 178,746 shares worth approximately $1.9 million.
• Warner Bros. Discovery reported a strong quarterly earnings performance with an EPS of $0.63, significantly surpassing analyst estimates of ($0.16), and revenue of $9.81 billion.
• Analysts have mixed views on the stock, with a consensus rating of "Hold" and a target price of $12.84, as twelve analysts rate it "hold", eight "buy", and one "strong buy".

Mizuho Securities USA LLC cut its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 15.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 178,746 shares of the company's stock after selling 32,833 shares during the period. Mizuho Securities USA LLC's holdings in Warner Bros. Discovery were worth $1,918,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of WBD. Vanguard Group Inc. boosted its holdings in shares of Warner Bros. Discovery by 1.7% in the 1st 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. Slate Path Capital LP boosted 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 buying an additional 6,381,000 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings 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 valued at $249,545,000 after buying an additional 1,725,775 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Warner Bros. Discovery by 13.5% in the 4th quarter. Northern Trust Corp now owns 22,996,874 shares of the company's stock valued at $243,077,000 after buying an additional 2,735,196 shares in the last quarter. Finally, EdgePoint Investment Group Inc. boosted its stake in Warner Bros. Discovery by 0.7% during the 4th quarter. EdgePoint Investment Group Inc. now owns 21,536,172 shares of the company's stock worth $227,637,000 after purchasing an additional 139,453 shares during the period. 59.95% of the stock is owned by hedge funds and other institutional investors.

Warner Bros. Discovery Stock Performance

Shares of WBD traded down $0.27 during midday trading on Thursday, hitting $11.78. 53,355,841 shares of the stock traded hands, compared to its average volume of 47,156,074. Warner Bros. Discovery, Inc. has a 1-year low of $6.78 and a 1-year high of $13.86. The firm has a market capitalization of $28.92 billion, a PE ratio of 39.27, a price-to-earnings-growth ratio of 2.66 and a beta of 1.57. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.04 and a current ratio of 1.04. The business's 50 day moving average price is $11.60 and its two-hundred day moving average price is $10.35.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.79. The business had revenue of $9.81 billion during the quarter, compared to the consensus estimate of $9.73 billion. Warner Bros. Discovery had a net margin of 2.00% and a return on equity of 2.14%. The company's quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($4.07) earnings per share. Equities research analysts predict that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Citigroup decreased 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. 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. KeyCorp reduced their target price 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. Benchmark restated a "buy" rating and issued a $18.00 target price on shares of Warner Bros. Discovery in a research note on Monday, July 14th. Finally, Raymond James Financial reduced their target price on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an "outperform" rating for the company in a research note on Friday, August 8th. Eleven analysts have rated the stock with a hold rating, eight 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 an average price target of $13.14.

Insider Buying and Selling

In other Warner Bros. Discovery news, Director Anton J. Levy purchased 75,000 shares of the company's stock in a transaction on Tuesday, August 12th. The shares were purchased at an average cost of $11.00 per share, for a total transaction of $825,000.00. Following the completion of the transaction, 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 the SEC website. Company insiders own 1.90% of the company's stock.

Warner Bros. Discovery 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.