Staley Capital Advisers Inc. increased its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 23.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 949,561 shares of the company's stock after buying an additional 178,386 shares during the quarter. Staley Capital Advisers Inc.'s holdings in Warner Bros. Discovery were worth $10,189,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in WBD. Financial Gravity Asset Management Inc. purchased a new position in Warner Bros. Discovery during the 1st quarter valued at $27,000. North Capital Inc. purchased a new position in Warner Bros. Discovery during the 1st quarter valued at $28,000. Smallwood Wealth Investment Management LLC purchased a new position in Warner Bros. Discovery during the 1st quarter valued at $29,000. Ameriflex Group Inc. purchased a new stake in shares of Warner Bros. Discovery in the 4th quarter worth about $30,000. Finally, Golden State Wealth Management LLC grew its position in shares of Warner Bros. Discovery by 448.0% in the 1st quarter. Golden State Wealth Management LLC now owns 2,877 shares of the company's stock worth $31,000 after buying an additional 2,352 shares during the period. 59.95% of the stock is owned by hedge funds and other institutional investors.
Warner Bros. Discovery Stock Down 2.2%
WBD stock traded down $0.27 during trading on Thursday, hitting $11.78. 53,353,467 shares of the stock traded hands, compared to its average volume of 47,152,520. Warner Bros. Discovery, Inc. has a 1 year low of $6.78 and a 1 year high of $13.86. The firm's 50 day moving average is $11.60 and its two-hundred day moving average is $10.35. The stock has a market cap of $28.92 billion, a price-to-earnings ratio of 39.27, a price-to-earnings-growth ratio of 2.66 and a beta of 1.57. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.04 and a quick ratio of 1.04.
Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced its quarterly earnings results 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. The firm had revenue of $9.81 billion for the quarter, compared to the consensus estimate of $9.73 billion. Warner Bros. Discovery had a net margin of 2.00% and a return on equity of 2.14%. The business's quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($4.07) EPS. On average, sell-side analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on WBD shares. Wells Fargo & Company upped their target price on shares of Warner Bros. Discovery from $11.00 to $13.00 and gave the stock an "equal weight" rating in a research report on Friday, August 8th. Needham & Company LLC reaffirmed a "hold" rating on shares of Warner Bros. Discovery in a research report on Tuesday, June 10th. KeyCorp reduced their target price 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. Citigroup reduced their target price on shares of Warner Bros. Discovery from $15.00 to $14.00 and set a "buy" rating on the stock in a research report on Thursday, May 29th. Finally, Benchmark reaffirmed a "buy" rating and issued a $18.00 target price on shares of Warner Bros. Discovery in a research report on Monday, July 14th. Eleven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Warner Bros. Discovery currently has a consensus rating of "Moderate Buy" and a consensus target price of $13.14.
Read Our Latest Stock Report on Warner Bros. Discovery
Insider Activity
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 purchased at an average price of $11.00 per share, with a total value of $825,000.00. Following the acquisition, the director directly owned 949,000 shares in the company, valued at $10,439,000. The trade was a 8.58% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.90% of the stock is currently owned by insiders.
Warner Bros. Discovery Profile
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Free Report)
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.
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