Sessa Capital IM L.P. Acquires 5,100,000 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Sessa Capital IM L.P. grew its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 28.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,784,883 shares of the company's stock after buying an additional 5,100,000 shares during the period. Warner Bros. Discovery accounts for about 5.1% of Sessa Capital IM L.P.'s holdings, making the stock its 7th biggest holding. Sessa Capital IM L.P. owned 0.93% of Warner Bros. Discovery worth $169,520,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of WBD. Advisory Services Network LLC grew its holdings in shares of Warner Bros. Discovery by 10.2% in the fourth quarter. Advisory Services Network LLC now owns 60,121 shares of the company's stock valued at $684,000 after purchasing an additional 5,541 shares during the period. Hsbc Holdings PLC increased its holdings in shares of Warner Bros. Discovery by 25.9% during the 4th quarter. Hsbc Holdings PLC now owns 4,057,170 shares of the company's stock worth $46,272,000 after buying an additional 834,016 shares during the last quarter. United Services Automobile Association raised its position in shares of Warner Bros. Discovery by 6.1% during the 4th quarter. United Services Automobile Association now owns 66,742 shares of the company's stock valued at $760,000 after buying an additional 3,817 shares during the period. TD Asset Management Inc lifted its holdings in Warner Bros. Discovery by 5.5% in the fourth quarter. TD Asset Management Inc now owns 940,552 shares of the company's stock valued at $10,703,000 after acquiring an additional 48,951 shares during the last quarter. Finally, Treasurer of the State of North Carolina grew its position in Warner Bros. Discovery by 4.4% in the fourth quarter. Treasurer of the State of North Carolina now owns 1,294,815 shares of the company's stock worth $14,735,000 after acquiring an additional 54,232 shares during the period. 59.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on WBD shares. Deutsche Bank Aktiengesellschaft decreased their price target on Warner Bros. Discovery from $16.00 to $15.00 and set a "buy" rating on the stock in a research note on Thursday, August 8th. Morgan Stanley lowered their target price on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an "equal weight" rating for the company in a research note on Monday, July 29th. Barclays reduced their price target on shares of Warner Bros. Discovery from $9.00 to $8.00 and set an "equal weight" rating on the stock in a research note on Thursday, August 8th. TD Cowen lowered their price objective on shares of Warner Bros. Discovery from $15.00 to $14.00 and set a "buy" rating for the company in a research report on Thursday, August 8th. Finally, Barrington Research restated an "outperform" rating and set a $12.00 price target on shares of Warner Bros. Discovery in a research note on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $10.93.

Warner Bros. Discovery Stock Up 1.3 %

Shares of NASDAQ:WBD opened at $8.30 on Friday. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.64 and a fifty-two week high of $12.70. The firm's 50 day moving average price is $7.88 and its 200 day moving average price is $7.97. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.06. The stock has a market cap of $20.34 billion, a price-to-earnings ratio of -6.69 and a beta of 1.48.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($4.07) earnings per share for the quarter, missing analysts' consensus estimates of ($0.18) by ($3.89). The firm had revenue of $9.71 billion during the quarter, compared to analyst estimates of $10.07 billion. Warner Bros. Discovery had a negative net margin of 29.47% and a negative return on equity of 27.28%. Warner Bros. Discovery's revenue for the quarter was down 6.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.51) earnings per share. As a group, equities research analysts predict that Warner Bros. Discovery, Inc. will post -4.17 earnings per share for the current fiscal year.

Warner Bros. Discovery 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.

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