50,000 Shares in Warner Bros. Discovery, Inc. $WBD Purchased by Mint Tower Capital Management B.V.

Mint Tower Capital Management B.V. acquired a new position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) during the 4th quarter, HoldingsChannel reports. The fund acquired 50,000 shares of the company’s stock, valued at approximately $1,441,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Aviva PLC boosted its stake in Warner Bros. Discovery by 5.6% during the 4th quarter. Aviva PLC now owns 1,968,488 shares of the company’s stock worth $56,732,000 after purchasing an additional 104,403 shares during the last quarter. Banco BTG Pactual S.A. acquired a new stake in Warner Bros. Discovery during the 4th quarter worth $4,174,000. Kovack Advisors Inc. boosted its stake in Warner Bros. Discovery by 85.3% during the 4th quarter. Kovack Advisors Inc. now owns 19,888 shares of the company’s stock worth $573,000 after purchasing an additional 9,154 shares during the last quarter. ICICI Prudential Asset Management Co Ltd boosted its stake in Warner Bros. Discovery by 4.6% during the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 39,769 shares of the company’s stock worth $1,146,000 after purchasing an additional 1,748 shares during the last quarter. Finally, Xponance LLC boosted its stake in Warner Bros. Discovery by 6.3% during the 4th quarter. Xponance LLC now owns 356,368 shares of the company’s stock worth $10,271,000 after purchasing an additional 20,982 shares during the last quarter. Institutional investors and hedge funds own 59.95% of the company’s stock.

Warner Bros. Discovery Trading Up 2.4%

Shares of WBD stock opened at $26.86 on Friday. The company’s 50-day moving average price is $27.13 and its 200-day moving average price is $27.53. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.92. The stock has a market cap of $67.34 billion, a price-to-earnings ratio of -38.37 and a beta of 1.54. Warner Bros. Discovery, Inc. has a twelve month low of $9.98 and a twelve month high of $30.00.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($1.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($1.07). Warner Bros. Discovery had a negative net margin of 4.67% and a negative return on equity of 4.77%. The business had revenue of $8.89 billion during the quarter, compared to analyst estimates of $8.89 billion. During the same quarter in the prior year, the company posted ($0.18) earnings per share. The company’s revenue was down 1.0% on a year-over-year basis. As a group, equities analysts predict that Warner Bros. Discovery, Inc. will post -1.07 earnings per share for the current year.

Insider Buying and Selling

In other Warner Bros. Discovery news, Director Fazal F. Merchant sold 35,000 shares of the company’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $27.48, for a total value of $961,800.00. Following the transaction, the director owned 95,539 shares of the company’s stock, valued at $2,625,411.72. This represents a 26.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Paul A. Gould sold 600,000 shares of the company’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $27.35, for a total transaction of $16,410,000.00. Following the completion of the transaction, the director directly owned 244,357 shares in the company, valued at $6,683,163.95. The trade was a 71.06% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 1.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Huber Research raised shares of Warner Bros. Discovery from an “underweight” rating to an “overweight” rating in a research note on Monday, June 1st. Wells Fargo & Company assumed coverage on Warner Bros. Discovery in a report on Monday, March 9th. They set an “equal weight” rating and a $31.00 target price on the stock. Arete Research restated a “neutral” rating and set a $31.25 target price on shares of Warner Bros. Discovery in a report on Friday, February 27th. Zacks Research upgraded Warner Bros. Discovery from a “strong sell” rating to a “hold” rating in a report on Monday, June 1st. Finally, Rothschild & Co Redburn set a $31.00 target price on Warner Bros. Discovery and gave the stock a “neutral” rating in a report on Tuesday, February 17th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Warner Bros. Discovery currently has an average rating of “Hold” and a consensus price target of $27.04.

Warner Bros. Discovery Company Profile

Warner Bros. Discovery (NASDAQ: WBD) is a global media and entertainment company formed when WarnerMedia and Discovery, Inc combined their businesses in 2022. Headquartered in New York City, the company assembles a broad portfolio of film and television production, linear and cable networks, streaming services and consumer distribution operations. Its assets span well-known studio brands, premium scripted and unscripted programming, news and factual entertainment, and licensed franchise properties.

The company’s core activities include film and television production and distribution through units such as Warner Bros.