Warner Bros. Discovery, Inc. (NASDAQ:WBD) Stake Lessened by Credit Capital Investments LLC

Key Points

• Credit Capital Investments LLC reduced its stake in Warner Bros. Discovery by 10.7% in Q1, now holding 499,713 shares worth $5,362,000.
• Warner Bros. Discovery reported a quarterly loss of ($0.18) earnings per share, missing analyst expectations and reflecting a revenue decrease of 9.8% year-over-year.
• Despite recent difficulties, analysts have given mixed ratings, with several raising their price targets; the average target now stands at $12.66.

Credit Capital Investments LLC decreased its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 10.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 499,713 shares of the company's stock after selling 60,000 shares during the quarter. Warner Bros. Discovery makes up 9.2% of Credit Capital Investments LLC's portfolio, making the stock its 3rd biggest holding. Credit Capital Investments LLC's holdings in Warner Bros. Discovery were worth $5,362,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC grew its holdings in Warner Bros. Discovery by 478.5% during the 4th quarter. FMR LLC now owns 14,278,600 shares of the company's stock valued at $150,925,000 after buying an additional 11,810,191 shares in the last quarter. Slate Path Capital LP grew its holdings in shares of Warner Bros. Discovery by 36.6% in the fourth quarter. Slate Path Capital LP now owns 23,801,000 shares of the company's stock valued at $251,577,000 after purchasing an additional 6,381,000 shares in the last quarter. KBC Group NV increased its position in Warner Bros. Discovery by 682.8% in the first quarter. KBC Group NV now owns 7,145,308 shares of the company's stock worth $76,669,000 after purchasing an additional 6,232,561 shares during the last quarter. Sachem Head Capital Management LP purchased a new stake in Warner Bros. Discovery during the fourth quarter valued at $64,847,000. Finally, Duquesne Family Office LLC bought a new position in Warner Bros. Discovery during the fourth quarter valued at $49,231,000. 59.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on WBD. KeyCorp boosted their target price on shares of Warner Bros. Discovery from $13.00 to $18.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Citigroup decreased their price target on Warner Bros. Discovery from $15.00 to $14.00 and set a "buy" rating on the stock in a report on Thursday, May 29th. Bank of America lifted their price objective on shares of Warner Bros. Discovery from $14.00 to $16.00 and gave the stock a "buy" rating in a research note on Tuesday, July 1st. UBS Group boosted their price objective on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the company a "neutral" rating in a research report on Tuesday, July 8th. Finally, Guggenheim reaffirmed a "buy" rating on shares of Warner Bros. Discovery in a research note on Tuesday, June 10th. Twelve equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $12.81.

Warner Bros. Discovery Trading Up 0.6%

Shares of Warner Bros. Discovery stock traded up $0.07 on Wednesday, reaching $12.79. The stock had a trading volume of 48,726,729 shares, compared to its average volume of 78,746,640. Warner Bros. Discovery, Inc. has a 1 year low of $6.64 and a 1 year high of $13.86. The company has a 50 day moving average price of $11.41 and a 200 day moving average price of $10.29. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.99.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.06). Warner Bros. Discovery had a negative net margin of 28.16% and a negative return on equity of 30.56%. The business had revenue of $8.98 billion for the quarter, compared to analysts' expectations of $9.66 billion. During the same quarter in the prior year, the company posted ($0.40) EPS. The business's revenue for the quarter was down 9.8% on a year-over-year basis. On average, research analysts predict that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

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.