Signal Advisors Wealth LLC Makes New Investment in Warner Bros. Discovery, Inc. $WBD

Key Points

• Signal Advisors Wealth LLC has acquired a new position in Warner Bros. Discovery, purchasing 127,018 shares worth approximately $1.456 million during the second quarter.
• In its latest quarterly earnings report, Warner Bros. Discovery reported earnings of $0.63 per share, significantly exceeding analysts' expectations of ($0.16), with a year-over-year revenue increase of 1.0% to $9.81 billion.
• The stock of Warner Bros. Discovery opened at $18.70, has a market capitalization of $46.30 billion, and analysts maintain a consensus rating of "Hold" with an average price target of $13.25.

Signal Advisors Wealth LLC purchased a new position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 127,018 shares of the company's stock, valued at approximately $1,456,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WBD. WPG Advisers LLC bought a new position in Warner Bros. Discovery during the first quarter worth about $26,000. Financial Gravity Asset Management Inc. bought a new position in Warner Bros. Discovery during the first quarter worth about $27,000. North Capital Inc. bought a new position in shares of Warner Bros. Discovery in the first quarter valued at approximately $28,000. Smallwood Wealth Investment Management LLC bought a new position in shares of Warner Bros. Discovery in the first quarter valued at approximately $29,000. Finally, Ameriflex Group Inc. bought a new position in shares of Warner Bros. Discovery in the fourth quarter valued at approximately $30,000. Institutional investors own 59.95% of the company's stock.

Warner Bros. Discovery Stock Performance

WBD stock opened at $18.70 on Friday. 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 has a 50 day moving average price of $12.97 and a 200 day moving average price of $10.87. Warner Bros. Discovery, Inc. has a fifty-two week low of $7.25 and a fifty-two week high of $19.59. The stock has a market capitalization of $46.30 billion, a PE ratio of 62.34, a price-to-earnings-growth ratio of 2.40 and a beta of 1.59.

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. Warner Bros. Discovery had a net margin of 2.00% and a return on equity of 2.14%. The firm had revenue of $9.81 billion during the quarter, compared to analysts' expectations of $9.73 billion. During the same quarter in the previous year, the company posted ($4.07) EPS. Warner Bros. Discovery's revenue was up 1.0% on a year-over-year basis. Analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Insiders Place Their Bets

In other Warner Bros. Discovery news, Director Anton J. Levy bought 75,000 shares of the stock in a transaction on Tuesday, August 12th. The stock was purchased at an average price of $11.00 per share, with a total value of $825,000.00. Following the acquisition, 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 ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Bruce Campbell sold 150,000 shares of Warner Bros. Discovery stock in a transaction on Friday, September 12th. The stock was sold at an average price of $18.00, for a total transaction of $2,700,000.00. Following the sale, the insider directly owned 252,464 shares of the company's stock, valued at $4,544,352. This represents a 37.27% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 970,115 shares of company stock valued at $17,818,490. Company insiders own 1.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on WBD. UBS Group lifted their target price on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the company a "neutral" rating in a research note on Tuesday, July 8th. Wells Fargo & Company lifted their target price on shares of Warner Bros. Discovery from $13.00 to $14.00 and gave the company an "equal weight" rating in a research note on Thursday, September 11th. Benchmark reiterated a "buy" rating and issued a $18.00 target price on shares of Warner Bros. Discovery in a research note on Monday, July 14th. Barrington Research reiterated an "outperform" rating and issued a $16.00 target price on shares of Warner Bros. Discovery in a research note on Wednesday, July 30th. Finally, Argus upgraded shares of Warner Bros. Discovery to a "hold" rating in a research note on Tuesday, May 27th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and thirteen have given a Hold rating to the company's stock. Based on data from MarketBeat, Warner Bros. Discovery presently has a consensus rating of "Hold" and an average price target of $13.25.

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.

Want to see what other hedge funds are holding WBD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.