Hotchkis & Wiley Capital Management LLC Has $219.17 Million Stock Position in Warner Bros. Discovery, Inc. $WBD

Key Points

• Hotchkis & Wiley Capital Management LLC reduced its holdings in Warner Bros. Discovery by 0.3%, selling 61,636 shares, which left them with approximately 20.4 million shares valued at $219.2 million.
• Warner Bros. Discovery reported a net income of $0.63 EPS for the last quarter, significantly exceeding analysts' expectations of ($0.16) EPS.
• The stock has recently gained 4.0% and analysts have varying price targets, with the average target at $13.14, indicating a generally positive outlook.

Hotchkis & Wiley Capital Management LLC lowered its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 0.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,425,442 shares of the company's stock after selling 61,636 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned approximately 0.83% of Warner Bros. Discovery worth $219,165,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GF Fund Management CO. LTD. acquired a new position in shares of Warner Bros. Discovery during the 4th quarter worth about $4,914,000. Polar Asset Management Partners Inc. acquired a new position in shares of Warner Bros. Discovery during the 4th quarter worth about $3,022,000. Hi Line Capital Management LLC lifted its position in shares of Warner Bros. Discovery by 17.8% during the 1st quarter. Hi Line Capital Management LLC now owns 597,478 shares of the company's stock worth $6,411,000 after purchasing an additional 90,462 shares during the last quarter. KBC Group NV lifted its position in shares of Warner Bros. Discovery by 682.8% during the 1st 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. Finally, Dupree Financial Group LLC acquired a new position in shares of Warner Bros. Discovery during the 1st quarter worth about $2,884,000. Institutional investors and hedge funds own 59.95% of the company's stock.

Warner Bros. Discovery Trading Down 2.0%

NASDAQ:WBD traded down $0.24 during trading hours on Tuesday, hitting $11.80. 57,911,792 shares of the stock were exchanged, compared to its average volume of 49,056,952. The company's 50 day moving average is $11.90 and its two-hundred day moving average is $10.44. Warner Bros. Discovery, Inc. has a twelve month low of $6.78 and a twelve month high of $13.86. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.92. The company has a market capitalization of $29.21 billion, a P/E ratio of 40.13, a price-to-earnings-growth ratio of 1.60 and a beta of 1.57.

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 (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $9.81 billion for the quarter, compared to the consensus estimate of $9.73 billion. During the same quarter in the prior year, the business earned ($4.07) EPS. The business's revenue for the quarter was up 1.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Argus upgraded Warner Bros. Discovery to a "hold" rating in a research note on Tuesday, May 27th. Benchmark restated a "buy" rating and set a $18.00 price target on shares of Warner Bros. Discovery in a research note on Monday, July 14th. Huber Research upgraded Warner Bros. Discovery from a "strong sell" rating to a "strong-buy" rating in a research note on Monday, June 9th. Needham & Company LLC restated a "hold" rating on shares of Warner Bros. Discovery in a research note on Tuesday, June 10th. Finally, KeyCorp lowered their price target on Warner Bros. Discovery from $18.00 to $16.00 and set an "overweight" rating on the stock in a research note on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $13.14.

Insider Transactions at Warner Bros. Discovery

In other news, Director Anton J. Levy acquired 250,000 shares of Warner Bros. Discovery stock in a transaction on Monday, August 11th. The shares were purchased at an average price of $10.90 per share, with a total value of $2,725,000.00. Following the acquisition, the director owned 874,000 shares in the company, valued at $9,526,600. This represents a 40.06% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.80% of the company's stock.

About Warner Bros. Discovery

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.