Trexquant Investment LP Invests $6.59 Million in Warner Bros. Discovery, Inc. $WBD

Key Points

• Trexquant Investment LP invested approximately $6.59 million in Warner Bros. Discovery by acquiring 614,376 shares during the first quarter of the year.
• Director Anton J. Levy purchased 250,000 shares worth $2.7 million, increasing his ownership stake in the company by 40.06%.
• Warner Bros. Discovery recently reported earnings, beating analysts' estimates with an EPS of $0.63 and revenue of $9.81 billion for the quarter.

Trexquant Investment LP purchased a new position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 614,376 shares of the company's stock, valued at approximately $6,592,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Flagship Harbor Advisors LLC increased its stake in Warner Bros. Discovery by 9.7% during the first quarter. Flagship Harbor Advisors LLC now owns 14,955 shares of the company's stock worth $160,000 after acquiring an additional 1,318 shares during the last quarter. CX Institutional increased its stake in Warner Bros. Discovery by 5.7% during the first quarter. CX Institutional now owns 27,324 shares of the company's stock worth $293,000 after acquiring an additional 1,465 shares during the last quarter. Bartlett & CO. Wealth Management LLC increased its stake in Warner Bros. Discovery by 9.0% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 18,825 shares of the company's stock worth $202,000 after acquiring an additional 1,561 shares during the last quarter. Sequoia Financial Advisors LLC boosted its position in shares of Warner Bros. Discovery by 2.6% in the first quarter. Sequoia Financial Advisors LLC now owns 62,966 shares of the company's stock worth $676,000 after buying an additional 1,588 shares during the period. Finally, Fifth Third Wealth Advisors LLC grew its stake in shares of Warner Bros. Discovery by 8.9% in the first quarter. Fifth Third Wealth Advisors LLC now owns 19,756 shares of the company's stock valued at $212,000 after buying an additional 1,618 shares in the last quarter. Hedge funds and other institutional investors own 59.95% of the company's stock.

Warner Bros. Discovery Stock Performance

NASDAQ:WBD traded down $0.15 during trading hours on Thursday, reaching $11.78. 54,677,133 shares of the stock were exchanged, compared to its average volume of 47,000,328. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.92. The firm has a 50 day simple moving average of $12.04 and a 200-day simple moving average of $10.52. Warner Bros. Discovery, Inc. has a 52 week low of $6.78 and a 52 week high of $13.86. The stock has a market capitalization of $29.15 billion, a P/E ratio of 39.25, a P/E/G ratio of 1.55 and a beta of 1.59.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.63 EPS for the quarter, topping analysts' consensus estimates 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%.Warner Bros. Discovery's quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the business posted ($4.07) EPS. As a group, sell-side analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on WBD shares. Morgan Stanley increased their target price on Warner Bros. Discovery from $10.00 to $13.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 6th. KeyCorp decreased their target price on shares of Warner Bros. Discovery from $18.00 to $16.00 and set an "overweight" rating for the company in a research note on Friday, August 8th. Benchmark restated 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 restated 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, Bank of America upped their target price on shares of Warner Bros. Discovery from $14.00 to $16.00 and gave the company a "buy" rating in a research note on Tuesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eleven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $13.14.

Insider Buying and Selling at Warner Bros. Discovery

In related news, Director Anton J. Levy purchased 75,000 shares of the company's stock in a transaction dated Tuesday, August 12th. The shares were acquired at an average cost of $11.00 per share, for a total transaction of $825,000.00. Following the transaction, the director owned 949,000 shares of the company's stock, valued at $10,439,000. This trade represents a 8.58% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.80% 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.