Vivaldi Capital Management LP Acquires New Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Vivaldi Capital Management LP bought a new position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 285,299 shares of the company's stock, valued at approximately $2,993,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of WBD. Colonial Trust Advisors raised its holdings 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 valued at $25,000 after purchasing an additional 996 shares in the last quarter. Stonebridge Financial Group LLC purchased a new position in Warner Bros. Discovery in the fourth quarter valued at $26,000. SRS Capital Advisors Inc. increased its holdings in Warner Bros. Discovery by 313.4% in the fourth quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company's stock valued at $27,000 after buying an additional 1,940 shares during the last quarter. Graney & King LLC acquired a new stake in Warner Bros. Discovery in the fourth quarter valued at $28,000. Finally, Ethos Financial Group LLC purchased a new stake in Warner Bros. Discovery during the 4th quarter worth about $29,000. 59.95% of the stock is owned by institutional investors and hedge funds.

Warner Bros. Discovery Price Performance

Shares of WBD traded up $0.07 during mid-day trading on Thursday, hitting $9.02. The company's stock had a trading volume of 28,774,640 shares, compared to its average volume of 33,315,797. 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, Inc. has a 1-year low of $6.64 and a 1-year high of $12.70. The firm has a market capitalization of $22.14 billion, a P/E ratio of -1.97, a P/E/G ratio of 8.64 and a beta of 1.46. The firm has a 50-day simple moving average of $9.12 and a 200 day simple moving average of $9.90.

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

Analyst Ratings Changes

A number of research analysts have recently commented on WBD shares. Wells Fargo & Company increased their price objective on Warner Bros. Discovery from $9.00 to $10.00 and gave the company an "equal weight" rating in a report on Friday, May 9th. Barrington Research reaffirmed an "outperform" rating and issued a $16.00 price target on shares of Warner Bros. Discovery in a report on Tuesday, May 13th. Citigroup increased their price target on shares of Warner Bros. Discovery from $13.00 to $15.00 and gave the company a "buy" rating in a research note on Wednesday, March 5th. Needham & Company LLC restated a "hold" rating on shares of Warner Bros. Discovery in a research report on Friday, February 28th. Finally, Benchmark restated a "buy" rating and issued a $18.00 target price on shares of Warner Bros. Discovery in a report on Wednesday, February 26th. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $12.22.

Insider Activity at Warner Bros. Discovery

In other news, Director Piazza Samuel A. Jr. Di purchased 17,346 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were acquired at an average price of $11.41 per share, for a total transaction of $197,917.86. Following the acquisition, the director now directly owns 159,932 shares in the company, valued at approximately $1,824,824.12. The trade was a 12.17% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.80% of the company's stock.

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.