Quantbot Technologies LP Takes $448,000 Position in Warner Bros. Discovery, Inc. $WBD

Key Points

• Quantbot Technologies LP acquired 41,738 shares of Warner Bros. Discovery, Inc. ($WBD) for approximately $448,000 in the first quarter.
• Warner Bros. Discovery reported earnings of $0.63 per share, surpassing analysts' expectations of a loss, with revenue totaling $9.81 billion for the quarter.
• Several analysts have upgraded their ratings for Warner Bros. Discovery, with Barclays raising the target price from $9.00 to $13.00 and Benchmark maintaining a "buy" rating with a $18.00 price objective.

Quantbot Technologies LP acquired a new stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm acquired 41,738 shares of the company's stock, valued at approximately $448,000.

Several other institutional investors also recently made changes to their positions in WBD. GF Fund Management CO. LTD. acquired a new position in shares of Warner Bros. Discovery during the 4th quarter worth $4,914,000. Polar Asset Management Partners Inc. acquired a new position in shares of Warner Bros. Discovery during the 4th quarter valued at about $3,022,000. Hi Line Capital Management LLC increased its stake in shares of Warner Bros. Discovery by 17.8% during the 1st quarter. Hi Line Capital Management LLC now owns 597,478 shares of the company's stock valued at $6,411,000 after acquiring an additional 90,462 shares during the last quarter. KBC Group NV grew its holdings in shares of 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 during the period. Finally, Dupree Financial Group LLC purchased a new stake in shares of Warner Bros. Discovery during the 1st quarter worth about $2,884,000. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Warner Bros. Discovery Stock Performance

WBD traded down $0.42 on Friday, hitting $11.64. The company had a trading volume of 60,181,031 shares, compared to its average volume of 46,981,516. 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 company's fifty day moving average price is $11.99 and its 200 day moving average price is $10.48. The stock has a market cap of $28.82 billion, a price-to-earnings ratio of 40.18, a price-to-earnings-growth ratio of 1.61 and a beta of 1.57. Warner Bros. Discovery, Inc. has a 1-year low of $6.78 and a 1-year high of $13.86.

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

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on WBD. Huber Research upgraded Warner Bros. Discovery from a "strong sell" rating to a "strong-buy" rating in a report on Monday, June 9th. KeyCorp cut their target price on Warner Bros. Discovery from $18.00 to $16.00 and set an "overweight" rating on the stock in a research note on Friday, August 8th. Wells Fargo & Company raised their target price on Warner Bros. Discovery from $11.00 to $13.00 and gave the company an "equal weight" rating in a research note on Friday, August 8th. Barrington Research restated an "outperform" rating and set a $16.00 price objective on shares of Warner Bros. Discovery in a research note on Wednesday, July 30th. Finally, 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 report on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $13.14.

Insider Buying and Selling

In other Warner Bros. Discovery news, Director Anton J. Levy purchased 250,000 shares of the company's stock in a transaction on Monday, August 11th. The shares were bought at an average cost of $10.90 per share, with a total value of $2,725,000.00. Following the transaction, the director directly owned 874,000 shares in the company, valued at approximately $9,526,600. This represents a 40.06% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.90% of the stock is currently owned by corporate insiders.

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.