Natixis Advisors LLC Buys 198,917 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Key Points

• Natixis Advisors LLC increased its stake in Warner Bros. Discovery, purchasing an additional 198,917 shares, resulting in a total holding of 489,923 shares worth approximately $5.26 million.
• Warner Bros. Discovery's stock price experienced slight growth, trading at $12.79, with significant trading volume reported at 48.7 million shares on that day.
• Analysts have differing outlooks, with ratings ranging from strong sell to strong buy, and an average consensus price target set at $12.81.

Natixis Advisors LLC grew its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 68.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 489,923 shares of the company's stock after purchasing an additional 198,917 shares during the quarter. Natixis Advisors LLC's holdings in Warner Bros. Discovery were worth $5,257,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. FMR LLC increased its position in shares of Warner Bros. Discovery by 478.5% during the fourth quarter. FMR LLC now owns 14,278,600 shares of the company's stock worth $150,925,000 after acquiring an additional 11,810,191 shares in the last quarter. Slate Path Capital LP boosted its stake in Warner Bros. Discovery by 36.6% during the 4th quarter. Slate Path Capital LP now owns 23,801,000 shares of the company's stock valued at $251,577,000 after purchasing an additional 6,381,000 shares during the last quarter. KBC Group NV increased its holdings in Warner Bros. Discovery by 682.8% during the 1st quarter. KBC Group NV now owns 7,145,308 shares of the company's stock worth $76,669,000 after purchasing an additional 6,232,561 shares in the last quarter. Sachem Head Capital Management LP purchased a new stake in shares of Warner Bros. Discovery in the fourth quarter worth approximately $64,847,000. Finally, Duquesne Family Office LLC purchased a new stake in shares of Warner Bros. Discovery in the fourth quarter worth approximately $49,231,000. 59.95% of the stock is owned by institutional investors and hedge funds.

Warner Bros. Discovery Price Performance

NASDAQ:WBD traded down $0.93 during mid-day trading on Thursday, hitting $11.86. 57,439,488 shares of the stock traded hands, compared to its average volume of 46,966,250. Warner Bros. Discovery, Inc. has a 12-month low of $6.64 and a 12-month high of $13.86. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.99. The company has a market cap of $29.11 billion, a PE ratio of -2.70 and a beta of 1.57. The business'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 released its quarterly earnings results on Thursday, August 7th. The company reported $0.63 EPS for the quarter, beating analysts' consensus estimates of ($0.13) by $0.76. Warner Bros. Discovery had a negative net margin of 28.16% and a negative return on equity of 30.56%. The firm had revenue of $9.81 billion during the quarter, compared to analyst estimates of $9.73 billion. During the same period in the previous year, the business earned ($4.07) EPS. The business's revenue for the quarter was up 1.0% on a year-over-year basis. On average, analysts expect that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on WBD. Guggenheim reiterated a "buy" rating on shares of Warner Bros. Discovery in a report on Tuesday, June 10th. Argus raised Warner Bros. Discovery to a "hold" rating in a report on Tuesday, May 27th. Morgan Stanley lifted their target price on Warner Bros. Discovery from $10.00 to $13.00 and gave the stock an "equal weight" rating in a research note on Wednesday. Citigroup decreased their price objective on shares of Warner Bros. Discovery from $15.00 to $14.00 and set a "buy" rating for the company in a report on Thursday, May 29th. Finally, Barclays boosted their target price 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. Twelve equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Warner Bros. Discovery presently has an average rating of "Moderate Buy" and a consensus target price of $12.81.

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.