Warner Bros. Discovery, Inc. $WBD Shares Sold by Newport Trust Company LLC

Key Points

• Newport Trust Company LLC reduced its stake in Warner Bros. Discovery by 2.5%, selling 234,424 shares to hold approximately 8,980,750 shares, valued at $96,363,000.
• Several institutional investors, including KBC Group NV, have significantly increased their investments in Warner Bros. Discovery, with KBC growing its stake by 682.8%
• Warner Bros. Discovery recently reported an earnings per share of $0.63, exceeding estimates by $0.79, with an overall revenue of $9.81 billion for the quarter.

Newport Trust Company LLC decreased its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 2.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,980,750 shares of the company's stock after selling 234,424 shares during the period. Newport Trust Company LLC owned about 0.37% of Warner Bros. Discovery worth $96,363,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. GF Fund Management CO. LTD. acquired a new position in shares of Warner Bros. Discovery in the fourth quarter worth $4,914,000. Polar Asset Management Partners Inc. acquired a new position in shares of Warner Bros. Discovery during the fourth quarter worth $3,022,000. Hi Line Capital Management LLC grew its stake in shares of Warner Bros. Discovery by 17.8% during the first 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 in the last quarter. KBC Group NV grew its stake in shares of Warner Bros. Discovery by 682.8% during 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 in the last quarter. Finally, Dupree Financial Group LLC acquired a new position in shares of Warner Bros. Discovery during the first quarter worth $2,884,000. Institutional investors and hedge funds own 59.95% of the company's stock.

Insider Transactions at Warner Bros. Discovery

In other news, Director Anton J. Levy bought 75,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The shares were purchased at an average price of $11.00 per share, for a total transaction of $825,000.00. Following the completion of the transaction, the director owned 949,000 shares in the company, valued at $10,439,000. The trade was a 8.58% 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. Company insiders own 1.90% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on WBD shares. Citigroup lowered their target price on shares of Warner Bros. Discovery from $15.00 to $14.00 and set a "buy" rating for the company in a research note on Thursday, May 29th. UBS Group boosted their price target 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. Bank of America boosted their price target on shares of Warner Bros. Discovery from $14.00 to $16.00 and gave the company a "buy" rating in a research report on Tuesday, July 1st. Raymond James Financial reduced their target price on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an "outperform" rating for the company in a report on Friday, August 8th. Finally, Wells Fargo & Company boosted their price target on shares of Warner Bros. Discovery from $11.00 to $13.00 and gave the stock an "equal weight" rating in a research note on Friday, August 8th. 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. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $13.14.

Warner Bros. Discovery Trading Up 0.4%

Shares of Warner Bros. Discovery stock opened at $11.59 on Friday. Warner Bros. Discovery, Inc. has a 12-month low of $6.78 and a 12-month high of $13.86. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.92. The stock has a market cap of $28.69 billion, a PE ratio of 38.63, a price-to-earnings-growth ratio of 1.54 and a beta of 1.57. The company has a 50-day moving average of $11.81 and a two-hundred day moving average of $10.40.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.63 EPS for the quarter, beating the consensus estimate of ($0.16) by $0.79. The business had revenue of $9.81 billion for the quarter, compared to analyst estimates of $9.73 billion. Warner Bros. Discovery had a net margin of 2.00% and a return on equity of 2.14%. The company's quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the business earned ($4.07) earnings per share. On average, research analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

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.

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