Neo Ivy Capital Management Buys Shares of 350,115 Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Neo Ivy Capital Management acquired a new position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 350,115 shares of the company's stock, valued at approximately $3,700,000.

A number of other hedge funds have also recently bought and sold shares of WBD. Coronation Fund Managers Ltd. boosted its stake in Warner Bros. Discovery by 54.1% during the 4th quarter. Coronation Fund Managers Ltd. now owns 5,644,290 shares of the company's stock valued at $59,660,000 after purchasing an additional 1,981,050 shares during the period. Prudential PLC increased its stake in Warner Bros. Discovery by 31.1% in the 4th quarter. Prudential PLC now owns 135,163 shares of the company's stock valued at $1,429,000 after buying an additional 32,102 shares during the period. SVB Wealth LLC acquired a new position in shares of Warner Bros. Discovery during the 4th quarter worth $168,000. Natixis Advisors LLC boosted its holdings in shares of Warner Bros. Discovery by 3.6% during the 4th quarter. Natixis Advisors LLC now owns 291,006 shares of the company's stock worth $3,076,000 after buying an additional 10,024 shares during the period. Finally, Norges Bank bought a new stake in Warner Bros. Discovery in the 4th quarter valued at $362,210,000. Institutional investors and hedge funds own 59.95% of the company's stock.

Insider Activity at Warner Bros. Discovery

In related news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The shares were bought 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 trade represents a 12.17% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

WBD has been the subject of a number of recent analyst reports. KeyCorp dropped their target price on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Morgan Stanley lowered their price target on shares of Warner Bros. Discovery from $12.00 to $10.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 6th. Barrington Research reissued an "outperform" rating and set a $16.00 price objective on shares of Warner Bros. Discovery in a research note on Tuesday, May 13th. Barclays lifted their price target on shares of Warner Bros. Discovery from $7.00 to $9.00 and gave the company an "equal weight" rating in a research note on Friday, May 9th. Finally, Raymond James cut their price objective on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an "outperform" rating on the stock in a research report on Friday, April 4th. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $12.22.

Warner Bros. Discovery Trading Up 0.8%

Shares of NASDAQ:WBD opened at $9.02 on Friday. The stock has a market capitalization of $22.14 billion, a price-to-earnings ratio of -1.97, a PEG ratio of 8.64 and a beta of 1.46. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. The stock's 50-day simple moving average is $9.09 and its two-hundred day simple moving average is $9.91. Warner Bros. Discovery, Inc. has a 52-week low of $6.64 and a 52-week high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.06). The business had revenue of $8.98 billion for the quarter, compared to the consensus estimate 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 firm's revenue for the quarter was down 9.8% compared to the same quarter last year. During the same period last year, the business posted ($0.40) EPS. Analysts expect that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

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.

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