Vident Advisory LLC Purchases 25,529 Shares of Warner Bros. Discovery, Inc. $WBD

Key Points

• Vident Advisory LLC increased its holdings in Warner Bros. Discovery, Inc. by 121.1% during the 1st quarter, owning 46,617 shares worth approximately $500,000 after purchasing 25,529 additional shares.
• Analysts have recently upgraded Warner Bros. Discovery's ratings, with Wells Fargo raising its target price from $11.00 to $13.00 and others issuing various ratings, resulting in a consensus target price of $13.14.
• Director Anton J. Levy purchased 250,000 shares of Warner Bros. Discovery at an average cost of $10.90 per share, representing a significant 40.06% increase in his ownership position.

Vident Advisory LLC raised its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 121.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 46,617 shares of the company's stock after buying an additional 25,529 shares during the period. Vident Advisory LLC's holdings in Warner Bros. Discovery were worth $500,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. GF Fund Management CO. LTD. acquired a new position in shares of Warner Bros. Discovery in the 4th quarter worth approximately $4,914,000. Polar Asset Management Partners Inc. acquired a new position in shares of Warner Bros. Discovery in the 4th quarter worth approximately $3,022,000. Hi Line Capital Management LLC boosted its holdings in shares of Warner Bros. Discovery by 17.8% in the 1st quarter. Hi Line Capital Management LLC now owns 597,478 shares of the company's stock worth $6,411,000 after acquiring an additional 90,462 shares in the last quarter. KBC Group NV boosted its holdings in shares of Warner Bros. Discovery by 682.8% in the 1st quarter. KBC Group NV now owns 7,145,308 shares of the company's stock worth $76,669,000 after acquiring an additional 6,232,561 shares in the last quarter. Finally, Dupree Financial Group LLC acquired a new position in shares of Warner Bros. Discovery in the 1st quarter worth approximately $2,884,000. 59.95% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Warner Bros. Discovery

In other news, Director Anton J. Levy purchased 75,000 shares of the business's stock in a transaction that occurred on 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 directly owned 949,000 shares of the company's stock, valued at approximately $10,439,000. The trade was a 8.58% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. 1.80% of the stock is currently owned by company insiders.

Warner Bros. Discovery Trading Up 2.3%

WBD stock traded up $0.28 during midday trading on Wednesday, reaching $12.54. The company's stock had a trading volume of 59,340,310 shares, compared to its average volume of 47,311,105. 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 cap of $31.05 billion, a PE ratio of 41.80, a price-to-earnings-growth ratio of 1.65 and a beta of 1.59. 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 business's 50-day simple moving average is $12.12 and its 200-day simple moving average is $10.55.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $9.73 billion. During the same period last year, the firm earned ($4.07) earnings per share. The business's revenue for the quarter was up 1.0% on a year-over-year basis. As a group, sell-side analysts expect that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on WBD shares. Raymond James Financial reduced their target price on Warner Bros. Discovery from $14.00 to $13.00 and set an "outperform" rating on the stock in a report on Friday, August 8th. UBS Group raised their price target on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the company a "neutral" rating in a report on Tuesday, July 8th. Huber Research raised shares of Warner Bros. Discovery from a "strong sell" rating to a "strong-buy" rating in a report on Monday, June 9th. Citigroup lowered their price target on shares of Warner Bros. Discovery from $15.00 to $14.00 and set a "buy" rating for the company in a report on Thursday, May 29th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Warner Bros. Discovery in a report on Tuesday, June 10th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $13.14.

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.