Tidal Investments LLC Reduces Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Tidal Investments LLC reduced its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 63.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,102 shares of the company's stock after selling 90,547 shares during the quarter. Tidal Investments LLC's holdings in Warner Bros. Discovery were worth $551,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Colonial Trust Advisors increased its position in Warner Bros. Discovery by 71.8% in the fourth quarter. Colonial Trust Advisors now owns 2,383 shares of the company's stock worth $25,000 after purchasing an additional 996 shares during the period. Stonebridge Financial Group LLC bought a new stake in shares of Warner Bros. Discovery in the fourth quarter valued at about $26,000. SRS Capital Advisors Inc. lifted its position in shares of Warner Bros. Discovery by 313.4% in the fourth quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company's stock worth $27,000 after purchasing an additional 1,940 shares in the last quarter. Graney & King LLC bought a new position in shares of Warner Bros. Discovery in the 4th quarter valued at about $28,000. Finally, Ethos Financial Group LLC acquired a new position in shares of Warner Bros. Discovery during the 4th quarter worth approximately $29,000. 59.95% of the stock is owned by institutional investors.

Warner Bros. Discovery Stock Down 1.9%

Shares of WBD traded down $0.19 during trading hours on Friday, hitting $9.85. The stock had a trading volume of 52,968,974 shares, compared to its average volume of 33,543,275. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. Warner Bros. Discovery, Inc. has a 1-year low of $6.64 and a 1-year high of $12.70. The firm has a 50 day simple moving average of $8.94 and a 200-day simple moving average of $9.93. The firm has a market capitalization of $24.18 billion, a P/E ratio of -2.15, a price-to-earnings-growth ratio of 8.64 and a beta of 1.46.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last posted its 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). Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The business had revenue of $8.98 billion for the quarter, compared to the consensus estimate of $9.66 billion. During the same period in the previous year, the firm earned ($0.40) earnings per share. The company's revenue was down 9.8% on a year-over-year basis. Sell-side analysts predict that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley dropped their target price on shares of Warner Bros. Discovery from $12.00 to $10.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 6th. Citigroup decreased their price target on shares of Warner Bros. Discovery from $15.00 to $14.00 and set a "buy" rating on the stock in a research note on Thursday. Benchmark reiterated a "buy" rating and set a $18.00 target price on shares of Warner Bros. Discovery in a research report on Wednesday, February 26th. Wells Fargo & Company upped their price objective on Warner Bros. Discovery from $9.00 to $10.00 and gave the stock an "equal weight" rating in a research report on Friday, May 9th. Finally, Rosenblatt Securities restated a "neutral" rating and issued a $13.00 target price on shares of Warner Bros. Discovery in a research report on Friday, March 7th. Eleven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $12.17.

Insiders Place Their Bets

In other Warner Bros. Discovery news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of Warner Bros. Discovery stock in a transaction on Monday, March 3rd. The stock was purchased at an average price of $11.41 per share, for a total transaction of $197,917.86. Following the purchase, the director now directly owns 159,932 shares of the company's stock, valued at $1,824,824.12. This trade represents a 12.17% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.90% of the company's stock.

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.