Townsquare Capital LLC Purchases 67,580 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Key Points

• Townsquare Capital LLC increased its stake in Warner Bros. Discovery by 279.1% in Q1, acquiring 67,580 additional shares to hold a total of 91,796 shares valued at approximately $985,000.
• Wall Street analysts have an average rating of "Moderate Buy" for Warner Bros. Discovery, with an average price target of $13.14, reflecting optimism about the company's growth potential.
• Warner Bros. Discovery reported a strong quarterly performance, with earnings per share of $0.63 that beat consensus estimates by $0.79, alongside a revenue of $9.81 billion exceeding expectations.

Townsquare Capital LLC boosted its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 279.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 91,796 shares of the company's stock after purchasing an additional 67,580 shares during the quarter. Townsquare Capital LLC's holdings in Warner Bros. Discovery were worth $985,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Brighton Jones LLC lifted its position in shares of Warner Bros. Discovery by 304.9% during the fourth quarter. Brighton Jones LLC now owns 68,950 shares of the company's stock valued at $729,000 after purchasing an additional 51,920 shares in the last quarter. Federated Hermes Inc. lifted its position in shares of Warner Bros. Discovery by 5.2% during the fourth quarter. Federated Hermes Inc. now owns 32,118 shares of the company's stock valued at $339,000 after purchasing an additional 1,598 shares in the last quarter. Bessemer Group Inc. lifted its position in shares of Warner Bros. Discovery by 11.4% during the fourth quarter. Bessemer Group Inc. now owns 13,047 shares of the company's stock valued at $139,000 after purchasing an additional 1,338 shares in the last quarter. Sagespring Wealth Partners LLC bought a new position in shares of Warner Bros. Discovery during the fourth quarter valued at about $168,000. Finally, Summit Investment Advisors Inc. lifted its position in shares of Warner Bros. Discovery by 4.4% during the fourth quarter. Summit Investment Advisors Inc. now owns 100,727 shares of the company's stock valued at $1,065,000 after purchasing an additional 4,270 shares in the last quarter. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on WBD. Barrington Research reaffirmed an "outperform" rating and issued a $16.00 price objective on shares of Warner Bros. Discovery in a research report on Wednesday, July 30th. Bank of America lifted their price objective on shares of Warner Bros. Discovery from $14.00 to $16.00 and gave the stock a "buy" rating in a research report on Tuesday, July 1st. Argus raised shares of Warner Bros. Discovery to a "hold" rating in a research report on Tuesday, May 27th. KeyCorp lowered their price objective on shares of Warner Bros. Discovery from $18.00 to $16.00 and set an "overweight" rating on the stock in a research report on Friday, August 8th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Warner Bros. Discovery in a research report on Tuesday, June 10th. Eleven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Warner Bros. Discovery has an average rating of "Moderate Buy" and an average price target of $13.14.

Warner Bros. Discovery Price Performance

NASDAQ:WBD traded up $0.07 during mid-day trading on Friday, hitting $11.85. 40,652,332 shares of the stock traded hands, compared to its average volume of 69,557,104. The business's 50-day moving average price is $11.69 and its 200 day moving average price is $10.37. The company has a market cap of $29.09 billion, a PE ratio of 39.50, a price-to-earnings-growth ratio of 1.58 and a beta of 1.57. Warner Bros. Discovery, Inc. has a 12-month low of $6.78 and a 12-month high of $13.86. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.92.

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

Insider Buying and Selling

In related news, Director Anton J. Levy purchased 250,000 shares of the business's stock in a transaction on Monday, August 11th. The stock was acquired at an average price of $10.90 per share, with a total value of $2,725,000.00. Following the purchase, the director directly owned 874,000 shares in the company, valued at approximately $9,526,600. This represents a 40.06% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.90% of the company's stock.

About Warner Bros. Discovery

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.