Wellington Management Group LLP Increases Stock Holdings in Warner Bros. Discovery, Inc. $WBD

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 raised its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 55.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 86,071 shares of the company's stock after purchasing an additional 30,854 shares during the quarter. Wellington Management Group LLP's holdings in Warner Bros. Discovery were worth $924,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Warner Bros. Discovery by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 256,820,031 shares of the company's stock valued at $2,755,679,000 after purchasing an additional 4,169,240 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Warner Bros. Discovery by 2.1% in the first quarter. Invesco Ltd. now owns 43,341,297 shares of the company's stock valued at $465,052,000 after buying an additional 873,869 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Warner Bros. Discovery by 1.9% in the first quarter. Northern Trust Corp now owns 23,427,661 shares of the company's stock valued at $251,379,000 after buying an additional 430,787 shares in the last quarter. EdgePoint Investment Group Inc. boosted its stake in shares of Warner Bros. Discovery by 0.7% in the fourth quarter. EdgePoint Investment Group Inc. now owns 21,536,172 shares of the company's stock valued at $227,637,000 after buying an additional 139,453 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Warner Bros. Discovery by 9.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 18,130,229 shares of the company's stock valued at $194,537,000 after buying an additional 1,583,067 shares in the last quarter. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Anton J. Levy bought 250,000 shares of the business's stock in a transaction on Monday, August 11th. The shares were bought at an average cost of $10.90 per share, for a total transaction of $2,725,000.00. Following the completion of the acquisition, the director directly owned 874,000 shares in the company, valued at approximately $9,526,600. This represents a 40.06% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.80% of the stock is currently owned by company insiders.

Warner Bros. Discovery Price Performance

Shares of NASDAQ:WBD opened at $11.64 on Monday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.92. Warner Bros. Discovery, Inc. has a 1 year low of $6.78 and a 1 year high of $13.86. The business has a fifty day simple moving average of $11.99 and a 200 day simple moving average of $10.49. The firm has a market cap of $28.82 billion, a price-to-earnings ratio of 38.80, a P/E/G ratio of 1.55 and a beta of 1.59.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced 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 business had revenue of $9.81 billion during the quarter, compared to analyst estimates of $9.73 billion. During the same period last year, the company earned ($4.07) earnings per share. Warner Bros. Discovery's quarterly revenue was up 1.0% compared to the same quarter last year. As a group, sell-side analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on WBD shares. Raymond James Financial decreased their price target on Warner Bros. Discovery from $14.00 to $13.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. Citigroup reduced their price objective on Warner Bros. Discovery from $15.00 to $14.00 and set a "buy" rating for the company in a report on Thursday, May 29th. Wells Fargo & Company lifted their price objective on Warner Bros. Discovery from $11.00 to $13.00 and gave the stock an "equal weight" rating in a report on Friday, August 8th. Huber Research raised Warner Bros. Discovery from a "strong sell" rating to a "strong-buy" rating in a report on Monday, June 9th. Finally, Barrington Research reissued an "outperform" rating and issued a $16.00 price target on shares of Warner Bros. Discovery in a report on Wednesday, July 30th. One research 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, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $13.14.

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.

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.