Warner Bros. Discovery, Inc. $WBD Shares Purchased by Northern Trust Corp

Key Points

• Northern Trust Corp increased its stake in Warner Bros. Discovery by 1.9%, owning 23,427,661 shares worth approximately $251.4 million.
• Warner Bros. Discovery reported an impressive earnings per share (EPS) of $0.63 for the last quarter, exceeding expectations by $0.79, along with a revenue of $9.81 billion.
• Several analysts have set new price targets for Warner Bros. Discovery, with the consensus target now at $13.14, reflecting a "Moderate Buy" rating from investment analysts.

Northern Trust Corp boosted its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 1.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,427,661 shares of the company's stock after buying an additional 430,787 shares during the quarter. Northern Trust Corp owned approximately 0.95% of Warner Bros. Discovery worth $251,379,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Raymond James Financial Inc. boosted its position in shares of Warner Bros. Discovery by 5.1% during the 1st quarter. Raymond James Financial Inc. now owns 2,041,662 shares of the company's stock worth $21,907,000 after acquiring an additional 98,296 shares in the last quarter. American Century Companies Inc. lifted its stake in Warner Bros. Discovery by 19.8% during the first quarter. American Century Companies Inc. now owns 2,153,859 shares of the company's stock worth $23,111,000 after purchasing an additional 356,523 shares during the last quarter. Ethic Inc. boosted its holdings in Warner Bros. Discovery by 22.3% in the first quarter. Ethic Inc. now owns 244,873 shares of the company's stock valued at $2,500,000 after purchasing an additional 44,674 shares in the last quarter. Aberdeen Group plc increased its stake in Warner Bros. Discovery by 121.4% in the first quarter. Aberdeen Group plc now owns 1,523,407 shares of the company's stock valued at $16,003,000 after purchasing an additional 835,222 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Warner Bros. Discovery by 63.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 12,839,389 shares of the company's stock worth $137,700,000 after acquiring an additional 4,994,894 shares in the last quarter. 59.95% of the stock is owned by hedge funds and other institutional investors.

Warner Bros. Discovery Price Performance

Shares of NASDAQ:WBD opened at $11.54 on Thursday. Warner Bros. Discovery, Inc. has a 52 week low of $6.78 and a 52 week high of $13.86. The company has a 50-day moving average price of $11.79 and a 200 day moving average price of $10.39. The company has a market cap of $28.57 billion, a P/E ratio of 38.47, a PEG ratio of 1.54 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 released its earnings results on Thursday, August 7th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.79. The company had revenue of $9.81 billion for the quarter, compared to analysts' expectations 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 quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($4.07) EPS. Research analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on WBD shares. Needham & Company LLC reissued a "hold" rating on shares of Warner Bros. Discovery in a report on Tuesday, June 10th. Guggenheim reiterated a "buy" rating on shares of Warner Bros. Discovery in a research note on Tuesday, June 10th. Wells Fargo & Company raised their price objective 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. Morgan Stanley upped their target price on shares of Warner Bros. Discovery from $10.00 to $13.00 and gave the company an "equal weight" rating in a report on Wednesday, August 6th. Finally, Barclays increased their target price on shares of Warner Bros. Discovery from $9.00 to $13.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $13.14.

Insider Transactions at Warner Bros. Discovery

In other Warner Bros. Discovery news, Director Anton J. Levy bought 250,000 shares of Warner Bros. Discovery stock in a transaction on Monday, August 11th. The stock was bought at an average price of $10.90 per share, with a total value of $2,725,000.00. Following the completion of the acquisition, the director owned 874,000 shares in the company, valued at $9,526,600. The trade was a 40.06% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.90% of the company's stock.

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.

Want to see what other hedge funds are holding WBD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.