Morgens Waterfall Vintiadis & Co. Inc. Makes New $3.70 Million Investment in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Morgens Waterfall Vintiadis & Co. Inc. bought a new stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 350,000 shares of the company's stock, valued at approximately $3,700,000. Warner Bros. Discovery makes up approximately 2.8% of Morgens Waterfall Vintiadis & Co. Inc.'s investment portfolio, making the stock its 17th biggest position.

A number of other large investors have also modified their holdings of WBD. Principal Financial Group Inc. raised its stake in Warner Bros. Discovery by 3.1% during the third quarter. Principal Financial Group Inc. now owns 2,579,571 shares of the company's stock worth $21,281,000 after acquiring an additional 78,653 shares in the last quarter. Coronation Fund Managers Ltd. raised its stake in Warner Bros. Discovery by 54.1% during the fourth quarter. Coronation Fund Managers Ltd. now owns 5,644,290 shares of the company's stock worth $59,660,000 after acquiring an additional 1,981,050 shares in the last quarter. Prudential PLC raised its stake in Warner Bros. Discovery by 31.1% during the fourth quarter. Prudential PLC now owns 135,163 shares of the company's stock worth $1,429,000 after acquiring an additional 32,102 shares in the last quarter. SVB Wealth LLC acquired a new position in Warner Bros. Discovery during the fourth quarter worth $168,000. Finally, Natixis Advisors LLC raised its stake in Warner Bros. Discovery by 3.6% during the fourth quarter. Natixis Advisors LLC now owns 291,006 shares of the company's stock worth $3,076,000 after acquiring an additional 10,024 shares in the last quarter. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Warner Bros. Discovery

In other news, Director Piazza Samuel A. Jr. Di bought 17,346 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The shares were acquired at an average price 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. This represents a 12.17% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on WBD. Barclays raised their target price on 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. Rosenblatt Securities restated a "neutral" rating and issued a $13.00 target price on shares of Warner Bros. Discovery in a research note on Friday, March 7th. Raymond James lowered 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. Moffett Nathanson upgraded Warner Bros. Discovery from a "neutral" rating to a "buy" rating and raised their target price for the company from $9.00 to $13.00 in a research note on Tuesday, January 21st. Finally, Barrington Research restated an "outperform" rating and issued a $16.00 target price on shares of Warner Bros. Discovery in a research note on Tuesday. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Warner Bros. Discovery has an average rating of "Moderate Buy" and a consensus target price of $12.22.

Warner Bros. Discovery Trading Up 0.2%

WBD traded up $0.02 during midday trading on Friday, reaching $9.16. 32,361,227 shares of the company were exchanged, compared to its average volume of 33,180,126. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. Warner Bros. Discovery, Inc. has a one year low of $6.64 and a one year high of $12.70. The stock has a market capitalization of $22.49 billion, a P/E ratio of -2.00, a PEG ratio of 8.64 and a beta of 1.46. The stock's 50-day simple moving average is $9.18 and its 200 day simple moving average is $9.88.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last released its quarterly 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 for the quarter, compared to analyst estimates of $9.66 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The company's revenue for the quarter was down 9.8% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.40) EPS. As a group, analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

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.