Warner Bros. Discovery, Inc. (NASDAQ:WBD) is Coronation Fund Managers Ltd.'s 8th Largest Position

Key Points

• Coronation Fund Managers Ltd. has reduced its stake in Warner Bros. Discovery by 1.8%, making it the firm's 8th largest holding at 3.2% of its portfolio, equivalent to $59.48 million.
• During recent quarters, several institutional investors increased their stakes significantly, including FMR LLC, which grew its holdings by 478.5% to own over 14 million shares.
• Warner Bros. Discovery reported a quarterly earnings per share of $0.63, surpassing analyst estimates, with a reported revenue of $9.81 billion, up 1.0% year-over-year.

Coronation Fund Managers Ltd. decreased its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 1.8% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,543,659 shares of the company's stock after selling 100,631 shares during the period. Warner Bros. Discovery makes up about 3.2% of Coronation Fund Managers Ltd.'s holdings, making the stock its 8th biggest holding. Coronation Fund Managers Ltd. owned approximately 0.23% of Warner Bros. Discovery worth $59,483,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. GF Fund Management CO. LTD. purchased a new position in shares of Warner Bros. Discovery in the fourth quarter worth $4,914,000. Polar Asset Management Partners Inc. bought a new stake in Warner Bros. Discovery in the 4th quarter worth $3,022,000. Hi Line Capital Management LLC increased its position in shares of Warner Bros. Discovery by 17.8% in the first quarter. Hi Line Capital Management LLC now owns 597,478 shares of the company's stock valued at $6,411,000 after acquiring an additional 90,462 shares during the period. KBC Group NV raised its stake in shares of Warner Bros. Discovery by 682.8% during the first quarter. KBC Group NV now owns 7,145,308 shares of the company's stock valued at $76,669,000 after acquiring an additional 6,232,561 shares during the last quarter. Finally, Dupree Financial Group LLC purchased a new stake in shares of Warner Bros. Discovery during the first quarter worth about $2,884,000. Institutional investors own 59.95% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Benchmark restated a "buy" rating and set a $18.00 price target on shares of Warner Bros. Discovery in a report on Monday, July 14th. Citigroup reduced their target price on 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. Morgan Stanley upped their target price on Warner Bros. Discovery from $10.00 to $13.00 and gave the company an "equal weight" rating in a report on Wednesday, August 6th. KeyCorp cut their price target on shares of Warner Bros. Discovery from $18.00 to $16.00 and set an "overweight" rating on the stock in a report on Friday, August 8th. Finally, Argus raised shares of Warner Bros. Discovery to a "hold" rating in a research report on Tuesday, May 27th. Twelve investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Warner Bros. Discovery has an average rating of "Hold" and an average target price of $12.84.

Warner Bros. Discovery Stock Up 7.4%

Shares of NASDAQ WBD traded up $0.83 on Wednesday, reaching $12.05. 60,147,677 shares of the company's stock traded hands, compared to its average volume of 47,115,195. The business's 50 day simple moving average is $11.56 and its two-hundred day simple moving average is $10.34. Warner Bros. Discovery, Inc. has a 12 month low of $6.78 and a 12 month high of $13.86. The company has a market cap of $29.58 billion, a price-to-earnings ratio of 40.17, a price-to-earnings-growth ratio of 2.56 and a beta of 1.57. 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 posted its quarterly earnings data on Thursday, August 7th. The company reported $0.63 earnings per share for the quarter, beating analysts' consensus estimates of ($0.16) by $0.79. The company had revenue of $9.81 billion during the quarter, compared to analyst estimates of $9.73 billion. Warner Bros. Discovery had a return on equity of 2.14% and a net margin of 2.00%. The firm's revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter last year, the company earned ($4.07) EPS. As a group, equities research analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Insider Buying and Selling at Warner Bros. Discovery

In related news, Director Anton J. Levy purchased 250,000 shares of the stock in a transaction dated Monday, August 11th. The stock was purchased at an average price of $10.90 per share, with a total value of $2,725,000.00. Following the transaction, the director directly owned 874,000 shares in the company, valued at $9,526,600. This trade represents a 40.06% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.80% of the stock is 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.