Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Acquired by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. increased its stake in Warner Bros. Discovery by 1.7%, owning approximately 10.46% of the company, equating to about $2.76 billion as of the latest SEC filing.
• Warner Bros. Discovery reported earnings of $0.63 per share for its latest quarterly results, significantly outperforming analysts' expectations, and generated $9.81 billion in revenue.
• Investment analysts have mixed ratings for Warner Bros. Discovery, with a consensus average price target of $12.84, reflecting ongoing interest from various hedge funds and institutional investors.

Vanguard Group Inc. raised its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 1.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 256,820,031 shares of the company's stock after acquiring an additional 4,169,240 shares during the quarter. Vanguard Group Inc. owned approximately 10.46% of Warner Bros. Discovery worth $2,755,679,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in WBD. Colonial Trust Advisors increased its holdings in shares of Warner Bros. Discovery by 71.8% in the fourth quarter. Colonial Trust Advisors now owns 2,383 shares of the company's stock valued at $25,000 after purchasing an additional 996 shares during the last quarter. Flagship Harbor Advisors LLC grew its position in Warner Bros. Discovery by 9.7% in 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 period. Bessemer Group Inc. grew its position in Warner Bros. Discovery by 11.4% in the fourth quarter. Bessemer Group Inc. now owns 13,047 shares of the company's stock worth $139,000 after acquiring an additional 1,338 shares during the period. CX Institutional grew its position in Warner Bros. Discovery by 5.7% in 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 period. Finally, Bartlett & CO. Wealth Management LLC grew its position in Warner Bros. Discovery by 9.0% in 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 period. Institutional investors and hedge funds own 59.95% of the company's stock.

Warner Bros. Discovery Stock Performance

NASDAQ WBD opened at $10.91 on Friday. Warner Bros. Discovery, Inc. has a 52-week low of $6.64 and a 52-week high of $13.86. The business's 50-day moving average price is $11.52 and its 200 day moving average price is $10.33. The firm has a market cap of $26.78 billion, a P/E ratio of 36.37 and a beta of 1.57. The company has a quick ratio of 0.84, a current ratio of 1.04 and a debt-to-equity ratio of 0.92.

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 for the quarter, beating analysts' consensus estimates of ($0.16) by $0.79. Warner Bros. Discovery had a return on equity of 2.14% and a net margin of 2.00%. The company had revenue of $9.81 billion for the quarter, compared to analyst estimates of $9.73 billion. During the same quarter in the previous year, the company earned ($4.07) EPS. The firm's revenue for the quarter was up 1.0% compared to the same quarter last year. On average, equities research analysts expect that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Barclays raised their price target on Warner Bros. Discovery from $9.00 to $13.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 9th. Citigroup lowered their price target on Warner Bros. Discovery from $15.00 to $14.00 and set a "buy" rating for the company in a research report on Thursday, May 29th. KeyCorp lowered their price target on Warner Bros. Discovery from $18.00 to $16.00 and set an "overweight" rating for the company in a research report on Friday. Morgan Stanley raised their price target on Warner Bros. Discovery from $10.00 to $13.00 and gave the stock an "equal weight" rating in a research report on Wednesday. Finally, Raymond James Financial lowered their price target on Warner Bros. Discovery from $14.00 to $13.00 and set an "outperform" rating for the company in a research report on Friday. 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 stock. According to data from MarketBeat, Warner Bros. Discovery presently has an average rating of "Hold" and a consensus price target of $12.84.

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.

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