Public Sector Pension Investment Board Grows Stock Holdings in Warner Bros. Discovery, Inc. $WBD

Key Points

• The Public Sector Pension Investment Board increased its stake in Warner Bros. Discovery, Inc. by 7.5%, owning 335,046 shares valued at approximately $3.6 million after purchasing an additional 23,274 shares.
• Analysts have a consensus rating of "Moderate Buy" for Warner Bros. Discovery, with an average target price of $13.14, reflecting a shift from recent upgrades and adjustments by various firms.
• Warner Bros. Discovery reported $0.63 earnings per share for the last quarter, exceeding projections, with revenue totaling $9.81 billion and a year-over-year increase of 1.0%.

Public Sector Pension Investment Board increased its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 7.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 335,046 shares of the company's stock after buying an additional 23,274 shares during the quarter. Public Sector Pension Investment Board's holdings in Warner Bros. Discovery were worth $3,595,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in the company. Financial Gravity Asset Management Inc. purchased a new stake in shares of Warner Bros. Discovery in the first quarter worth about $27,000. North Capital Inc. purchased a new stake in shares of Warner Bros. Discovery in the first quarter worth about $28,000. Smallwood Wealth Investment Management LLC purchased a new stake in shares of Warner Bros. Discovery in the first quarter worth about $29,000. Ameriflex Group Inc. purchased a new stake in shares of Warner Bros. Discovery in the fourth quarter worth about $30,000. Finally, Golden State Wealth Management LLC boosted its stake in shares of Warner Bros. Discovery by 448.0% in the first quarter. Golden State Wealth Management LLC now owns 2,877 shares of the company's stock worth $31,000 after buying an additional 2,352 shares during the last quarter. Hedge funds and other institutional investors own 59.95% of the company's stock.

Analysts Set New Price Targets

WBD has been the topic of a number of recent research reports. Citigroup lowered their target price on Warner Bros. Discovery from $15.00 to $14.00 and set a "buy" rating on the stock in a research note on Thursday, May 29th. Barrington Research reaffirmed an "outperform" rating and issued a $16.00 price target on shares of Warner Bros. Discovery in a report on Wednesday, July 30th. Barclays upped their price target 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. Huber Research raised Warner Bros. Discovery from a "strong sell" rating to a "strong-buy" rating in a report on Monday, June 9th. Finally, KeyCorp reduced their price target on Warner Bros. Discovery from $18.00 to $16.00 and set an "overweight" rating for the company in a report on Friday, August 8th. One investment 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 stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $13.14.

Insider Activity at Warner Bros. Discovery

In other Warner Bros. Discovery news, Director Anton J. Levy acquired 75,000 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was bought 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 of the company's stock, valued at approximately $10,439,000. The trade was a 8.58% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.90% of the company's stock.

Warner Bros. Discovery Price Performance

Shares of NASDAQ:WBD traded up $0.05 during midday trading on Thursday, hitting $11.59. The company had a trading volume of 38,559,513 shares, compared to its average volume of 57,993,016. Warner Bros. Discovery, Inc. has a twelve month low of $6.78 and a twelve month high of $13.86. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a market cap of $28.69 billion, a price-to-earnings ratio of 38.47, a price-to-earnings-growth ratio of 1.54 and a beta of 1.57. The business's 50-day simple moving average is $11.81 and its 200-day simple moving average is $10.40.

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

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.