Crestline Management LP Invests $853,000 in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Crestline Management LP bought a new stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 80,699 shares of the company's stock, valued at approximately $853,000.

A number of other hedge funds have also made changes to their positions in WBD. Colonial Trust Advisors increased its stake in shares of Warner Bros. Discovery by 71.8% in the 4th quarter. Colonial Trust Advisors now owns 2,383 shares of the company's stock worth $25,000 after acquiring an additional 996 shares during the last quarter. Stonebridge Financial Group LLC acquired a new stake in shares of Warner Bros. Discovery in the 4th quarter worth $26,000. SRS Capital Advisors Inc. increased its stake in shares of Warner Bros. Discovery by 313.4% in the 4th quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company's stock worth $27,000 after acquiring an additional 1,940 shares during the last quarter. Graney & King LLC acquired a new stake in shares of Warner Bros. Discovery in the 4th quarter worth $28,000. Finally, Ethos Financial Group LLC acquired a new stake in Warner Bros. Discovery during the fourth quarter worth $29,000. Institutional investors and hedge funds own 59.95% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on WBD shares. Moffett Nathanson raised Warner Bros. Discovery from a "neutral" rating to a "buy" rating and raised their target price for the stock from $9.00 to $13.00 in a research note on Tuesday, January 21st. Rosenblatt Securities reissued a "neutral" rating and set a $13.00 target price on shares of Warner Bros. Discovery in a research note on Friday, March 7th. JPMorgan Chase & Co. raised their target price on Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 14th. Raymond James cut their target price 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, Morgan Stanley cut their target price on Warner Bros. Discovery from $12.00 to $10.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 6th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $12.22.

Insider Activity at Warner Bros. Discovery

In other Warner Bros. Discovery news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of the stock in a transaction dated Monday, March 3rd. The stock was acquired at an average cost of $11.41 per share, with a total value of $197,917.86. Following the transaction, the director now owns 159,932 shares in the company, valued at $1,824,824.12. The trade was a 12.17% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.90% of the stock is currently owned by company insiders.

Warner Bros. Discovery Stock Up 1.8%

NASDAQ:WBD traded up $0.16 during midday trading on Monday, reaching $9.23. The company had a trading volume of 47,007,283 shares, compared to its average volume of 33,150,263. The firm has a market capitalization of $22.66 billion, a price-to-earnings ratio of -2.02, a PEG ratio of 8.64 and a beta of 1.46. The stock's fifty day simple moving average is $9.30 and its 200-day simple moving average is $9.87. Warner Bros. Discovery, Inc. has a 12-month low of $6.64 and a 12-month high of $12.70. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.06). The company had revenue of $8.98 billion during the quarter, compared to analysts' expectations 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 company's revenue for the quarter was down 9.8% on a year-over-year basis. During the same quarter last year, the business posted ($0.40) earnings per share. On average, sell-side analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 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.