Collar Capital Management LLC Takes Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Collar Capital Management LLC purchased a new position in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 83,547 shares of the company's stock, valued at approximately $883,000.

Several other institutional investors have also bought and sold shares of WBD. Norges Bank bought a new position in shares of Warner Bros. Discovery in the fourth quarter worth about $362,210,000. Contrarius Group Holdings Ltd bought a new position in Warner Bros. Discovery in the 4th quarter valued at $168,930,000. FMR LLC raised its position in shares of Warner Bros. Discovery by 478.5% during the fourth quarter. FMR LLC now owns 14,278,600 shares of the company's stock worth $150,925,000 after acquiring an additional 11,810,191 shares during the last quarter. Slate Path Capital LP increased its position in Warner Bros. Discovery by 36.6% in the fourth quarter. Slate Path Capital LP now owns 23,801,000 shares of the company's stock worth $251,577,000 after purchasing an additional 6,381,000 shares during the period. Finally, Amundi raised its stake in shares of Warner Bros. Discovery by 108.1% during the fourth quarter. Amundi now owns 10,151,114 shares of the company's stock worth $102,120,000 after buying an additional 5,272,717 shares during the last quarter. Institutional investors and hedge funds own 59.95% of the company's stock.

Warner Bros. Discovery Stock Up 0.3 %

WBD stock traded up $0.03 during midday trading on Friday, hitting $9.04. The company's stock had a trading volume of 29,995,614 shares, compared to its average volume of 33,104,550. The company's fifty day moving average price is $9.35 and its 200 day moving average price is $9.82. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $12.70. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a market capitalization of $22.19 billion, a P/E ratio of -1.97, a PEG ratio of 8.64 and a beta of 1.46.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.06). The company had revenue of $8.98 billion for the quarter, compared to analyst estimates of $9.66 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The business's revenue for the quarter was down 9.8% on a year-over-year basis. During the same period last year, the company posted ($0.40) earnings per share. As a group, equities research analysts predict that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have commented on WBD shares. Citigroup lifted their target price on shares of Warner Bros. Discovery from $13.00 to $15.00 and gave the stock a "buy" rating in a report on Wednesday, March 5th. KeyCorp dropped their price objective on Warner Bros. Discovery from $14.00 to $13.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Barrington Research restated an "outperform" rating and set a $16.00 target price on shares of Warner Bros. Discovery in a report on Wednesday, March 5th. Raymond James lowered their price target on Warner Bros. Discovery from $14.00 to $13.00 and set an "outperform" rating for the company in a research note on Friday, April 4th. Finally, Wells Fargo & Company lifted their price objective on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the stock an "equal weight" rating in a research note on Friday. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Warner Bros. Discovery presently has a consensus rating of "Moderate Buy" and an average target price of $12.22.

Insider Buying and Selling

In other Warner Bros. Discovery news, Director Piazza Samuel A. Jr. Di purchased 17,346 shares of the stock in a transaction on Monday, March 3rd. The shares were purchased at an average price of $11.41 per share, with a total value of $197,917.86. Following the completion of the transaction, the director now directly owns 159,932 shares in the company, valued at $1,824,824.12. This represents a 12.17 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.80% of the stock is owned by corporate insiders.

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.