Sessa Capital IM L.P. Has $317.13 Million Stock Holdings in Warner Bros. Discovery, Inc. $WBD

Key Points

• Sessa Capital IM L.P. increased its stake in Warner Bros. Discovery by 4.0%, now holding approximately $317.13 million worth of shares, making it the second largest position in their portfolio.
• Warner Bros. Discovery reported earnings of $0.63 per share for the last quarter, significantly outperforming expectations, while also achieving a 1.0% year-over-year revenue increase totaling $9.81 billion.
• Institutional investors control nearly 60% of Warner Bros. Discovery's shares, signaling strong confidence from large-scale investors in the company’s prospects.

Sessa Capital IM L.P. lifted its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 4.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,555,277 shares of the company's stock after acquiring an additional 1,144,849 shares during the quarter. Warner Bros. Discovery accounts for about 12.4% of Sessa Capital IM L.P.'s holdings, making the stock its 2nd biggest position. Sessa Capital IM L.P. owned about 1.20% of Warner Bros. Discovery worth $317,128,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of WBD. WPG Advisers LLC acquired a new stake in Warner Bros. Discovery in the first quarter valued at $26,000. Financial Gravity Asset Management Inc. purchased a new stake in shares of Warner Bros. Discovery in the 1st quarter worth about $27,000. North Capital Inc. acquired a new stake in Warner Bros. Discovery in the 1st quarter valued at about $28,000. Smallwood Wealth Investment Management LLC purchased a new position in Warner Bros. Discovery during the 1st quarter valued at about $29,000. Finally, Ameriflex Group Inc. acquired a new position in Warner Bros. Discovery during the fourth quarter worth about $30,000. 59.95% of the stock is owned by hedge funds and other institutional investors.

Warner Bros. Discovery Stock Up 2.3%

Shares of WBD traded up $0.28 during midday trading on Wednesday, reaching $12.54. 59,340,696 shares of the company were exchanged, compared to its average volume of 47,311,109. Warner Bros. Discovery, Inc. has a 1-year low of $6.78 and a 1-year high of $13.86. The stock has a 50-day moving average price of $12.12 and a 200-day moving average price of $10.55. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.92. The company has a market cap of $31.05 billion, a price-to-earnings ratio of 41.80, a P/E/G ratio of 1.65 and a beta of 1.59.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced its 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 business had revenue of $9.81 billion for the quarter, compared to the consensus estimate of $9.73 billion. During the same period last year, the business posted ($4.07) EPS. The company's revenue was up 1.0% on a year-over-year basis. Research analysts expect that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Benchmark reiterated a "buy" rating and issued a $18.00 price target on shares of Warner Bros. Discovery in a research report on Monday, July 14th. Bank of America raised their price target on Warner Bros. Discovery from $14.00 to $16.00 and gave the stock a "buy" rating in a research report on Tuesday, July 1st. Raymond James Financial dropped their price target on Warner Bros. Discovery from $14.00 to $13.00 and set an "outperform" rating for the company in a research report on Friday, August 8th. Citigroup reduced their price objective on shares of 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. Finally, Barclays lifted their price target on Warner Bros. Discovery from $9.00 to $13.00 and gave the company an "equal weight" rating in a report on Wednesday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, Warner Bros. Discovery presently has a consensus rating of "Moderate Buy" and a consensus price target of $13.14.

Insiders Place Their Bets

In other Warner Bros. Discovery news, Director Anton J. Levy bought 250,000 shares of the stock in a transaction dated Monday, August 11th. The stock was bought at an average cost of $10.90 per share, for a total transaction of $2,725,000.00. Following the completion of the purchase, the director directly owned 874,000 shares of the company's stock, valued at approximately $9,526,600. The trade was a 40.06% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.80% of the stock is currently owned by insiders.

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.