American Century Companies Inc. Has $23.11 Million Stake in Warner Bros. Discovery, Inc. $WBD

American Century Companies Inc. lifted its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 19.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,153,859 shares of the company’s stock after buying an additional 356,523 shares during the quarter. American Century Companies Inc. owned about 0.09% of Warner Bros. Discovery worth $23,111,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Financial Gravity Asset Management Inc. acquired a new position in shares of Warner Bros. Discovery during the first quarter worth approximately $27,000. North Capital Inc. purchased a new position in Warner Bros. Discovery in the first quarter worth $28,000. Smallwood Wealth Investment Management LLC purchased a new position in Warner Bros. Discovery in the first quarter worth $29,000. Ameriflex Group Inc. purchased a new position in Warner Bros. Discovery in the fourth quarter worth $30,000. Finally, Golden State Wealth Management LLC boosted 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 purchasing an additional 2,352 shares during the last quarter. 59.95% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Warner Bros. Discovery

In other news, Director Anton J. Levy bought 75,000 shares of the stock in a transaction on Tuesday, August 12th. The shares were acquired at an average cost of $11.00 per share, for a total transaction of $825,000.00. Following the purchase, the director directly owned 949,000 shares of the company’s stock, valued at $10,439,000. This trade represents a 8.58% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.90% of the stock is owned by corporate insiders.

Warner Bros. Discovery Stock Up 4.0%

Warner Bros. Discovery stock opened at $12.05 on Friday. Warner Bros. Discovery, Inc. has a 1-year low of $6.78 and a 1-year high of $13.86. The firm has a market capitalization of $29.83 billion, a price-to-earnings ratio of 40.17, a P/E/G ratio of 1.61 and a beta of 1.57. 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 firm has a 50 day simple moving average of $11.85 and a 200 day simple moving average of $10.42.

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

Analyst Upgrades and Downgrades

WBD has been the topic of several research analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Warner Bros. Discovery in a research report on Tuesday, June 10th. Benchmark reissued a “buy” rating and issued a $18.00 price objective on shares of Warner Bros. Discovery in a research report on Monday, July 14th. Bank of America boosted their price objective on Warner Bros. Discovery from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday, July 1st. Argus upgraded Warner Bros. Discovery to a “hold” rating in a research note on Tuesday, May 27th. Finally, Wells Fargo & Company upped their price objective on Warner Bros. Discovery from $11.00 to $13.00 and gave the company 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 given a Hold rating to the company. Based on data from MarketBeat.com, Warner Bros. Discovery currently has an average rating of “Moderate Buy” and a consensus target price 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.