Warner Bros. Discovery, Inc. $WBD Shares Purchased by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP increased its stake in Warner Bros. Discovery by 55.9%, raising its holdings to 86,071 shares worth approximately $924,000.
• Other institutional investors, including Vanguard Group and Charles Schwab, have also boosted their investments in Warner Bros. Discovery during the first quarter.
• The company's latest earnings report showed a better-than-expected $0.63 EPS, surpassing analysts' estimates and highlighting a 1.0% year-over-year revenue growth.

Wellington Management Group LLP lifted its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 55.9% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 86,071 shares of the company's stock after buying an additional 30,854 shares during the period. Wellington Management Group LLP's holdings in Warner Bros. Discovery were worth $924,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of WBD. Financial Gravity Asset Management Inc. acquired a new position in Warner Bros. Discovery in the 1st quarter valued at approximately $27,000. North Capital Inc. acquired a new position in shares of Warner Bros. Discovery in the 1st quarter valued at approximately $28,000. Smallwood Wealth Investment Management LLC acquired a new position in Warner Bros. Discovery in the 1st quarter valued at approximately $29,000. Ameriflex Group Inc. bought a new position in Warner Bros. Discovery during the fourth quarter worth $30,000. Finally, Golden State Wealth Management LLC raised its position in Warner Bros. Discovery by 448.0% in the first quarter. Golden State Wealth Management LLC now owns 2,877 shares of the company's stock worth $31,000 after acquiring an additional 2,352 shares during the period. Institutional investors own 59.95% of the company's stock.

Analyst Ratings Changes

WBD has been the subject of a number of recent research reports. Guggenheim reiterated a "buy" rating on shares of Warner Bros. Discovery in a research note on Tuesday, June 10th. Benchmark reissued a "buy" rating and set a $18.00 price target on shares of Warner Bros. Discovery in a research report on Monday, July 14th. Wells Fargo & Company lifted their target price on shares of Warner Bros. Discovery from $11.00 to $13.00 and gave the company an "equal weight" rating in a report on Friday, August 8th. Morgan Stanley increased their price target on shares of Warner Bros. Discovery from $10.00 to $13.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 6th. Finally, UBS Group raised their target price on Warner Bros. Discovery from $9.00 to $10.00 and gave the company a "neutral" rating in a research note on Tuesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat.com, Warner Bros. Discovery currently has an average rating of "Moderate Buy" and a consensus price target of $13.14.

Warner Bros. Discovery Price Performance

Shares of WBD traded up $0.13 during trading hours on Friday, hitting $11.90. 13,636,951 shares of the company were exchanged, compared to its average volume of 46,851,426. 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, Inc. has a fifty-two week low of $6.78 and a fifty-two week high of $13.86. The company has a market cap of $29.45 billion, a price-to-earnings ratio of 39.68, a P/E/G ratio of 1.59 and a beta of 1.59. The firm's fifty day moving average is $12.06 and its 200 day moving average is $10.52.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced its quarterly 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 business had revenue of $9.81 billion during the quarter, compared to the consensus estimate of $9.73 billion. Warner Bros. Discovery had a return on equity of 2.14% and a net margin of 2.00%.Warner Bros. Discovery's revenue was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($4.07) earnings per share. On average, equities analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Insider Activity at Warner Bros. Discovery

In related news, Director Anton J. Levy bought 250,000 shares of the company's stock in a transaction on Monday, August 11th. The shares were acquired at an average price of $10.90 per share, with a total value of $2,725,000.00. Following the transaction, the director owned 874,000 shares of the company's stock, valued at $9,526,600. The trade was a 40.06% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.90% 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.