Warner Bros. Discovery (NASDAQ:WBD) Sets New 12-Month High - Here's What Happened

Key Points

• Warner Bros. Discovery Inc. (NASDAQ:WBD) reached a new 52-week high at $13.87, with analysts maintaining a consensus price target of $12.41 and primarily rating it as a "Moderate Buy."
• The company's recent earnings report showed a loss of $0.18 per share, missing estimates, and reported revenue of $8.98 billion, which is down 9.8% year-over-year.
• Significant institutional investments were made recently, with KBC Group NV increasing its stake by 682.8%, now holding over 7 million shares, indicating strong interest from large investors.

Warner Bros. Discovery, Inc. (NASDAQ:WBD - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $13.87 and last traded at $13.70, with a volume of 97024778 shares trading hands. The stock had previously closed at $13.49.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Barclays upped their price objective on Warner Bros. Discovery from $9.00 to $13.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 9th. Argus raised shares of Warner Bros. Discovery to a "hold" rating in a report on Tuesday, May 27th. KeyCorp cut their price target on Warner Bros. Discovery from $14.00 to $13.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Barrington Research reissued an "outperform" rating and issued a $16.00 price target on shares of Warner Bros. Discovery in a research note on Monday, June 9th. Finally, Huber Research raised shares of Warner Bros. Discovery from a "strong sell" rating to a "strong-buy" rating in a report on Monday, June 9th. Twelve research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $12.41.

Warner Bros. Discovery Trading Down 4.2%

The company has a market cap of $32.21 billion, a PE ratio of -2.98 and a beta of 1.54. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.84 and a current ratio of 0.84. The company has a 50 day simple moving average of $10.94 and a two-hundred day simple moving average of $10.15.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.18) EPS for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.06). Warner Bros. Discovery had a negative net margin of 28.16% and a negative return on equity of 30.56%. The company had revenue of $8.98 billion for the quarter, compared to analysts' expectations of $9.66 billion. During the same period in the previous year, the firm posted ($0.40) earnings per share. The business's revenue for the quarter was down 9.8% on a year-over-year basis. Sell-side analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of WBD. West Tower Group LLC boosted its position in Warner Bros. Discovery by 7.6% during the second quarter. West Tower Group LLC now owns 275,170 shares of the company's stock worth $3,153,000 after purchasing an additional 19,425 shares during the period. Cidel Asset Management Inc. raised its holdings in Warner Bros. Discovery by 28.5% in the 2nd quarter. Cidel Asset Management Inc. now owns 37,010 shares of the company's stock worth $424,000 after acquiring an additional 8,218 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Warner Bros. Discovery in the 2nd quarter worth $7,340,000. Chevy Chase Trust Holdings LLC lifted its position in Warner Bros. Discovery by 1.6% during the 2nd quarter. Chevy Chase Trust Holdings LLC now owns 1,195,417 shares of the company's stock worth $13,699,000 after acquiring an additional 18,706 shares during the last quarter. Finally, Arista Wealth Management LLC bought a new stake in Warner Bros. Discovery during the second quarter valued at about $115,000. 59.95% of the stock is owned by institutional investors and hedge funds.

Warner Bros. Discovery Company 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.