Crestline Management LP Invests $853,000 in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Crestline Management LP purchased a new stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 80,699 shares of the company’s stock, valued at approximately $853,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of WBD. Colonial Trust Advisors lifted its holdings in Warner Bros. Discovery by 71.8% during the 4th quarter. Colonial Trust Advisors now owns 2,383 shares of the company’s stock worth $25,000 after purchasing an additional 996 shares in the last quarter. Stonebridge Financial Group LLC purchased a new stake in shares of Warner Bros. Discovery in the fourth quarter worth about $26,000. SRS Capital Advisors Inc. grew its stake in Warner Bros. Discovery by 313.4% during the fourth quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company’s stock valued at $27,000 after acquiring an additional 1,940 shares in the last quarter. Graney & King LLC bought a new stake in Warner Bros. Discovery during the 4th quarter worth approximately $28,000. Finally, Ethos Financial Group LLC purchased a new stake in Warner Bros. Discovery in the 4th quarter worth approximately $29,000. 59.95% of the stock is owned by institutional investors.

Analyst Ratings Changes

WBD has been the topic of several research analyst reports. Citigroup upped their price target on shares of Warner Bros. Discovery from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. KeyCorp lowered their target price on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an “overweight” rating on the stock in a research note on Monday, April 14th. Barrington Research restated an “outperform” rating and set a $16.00 price objective on shares of Warner Bros. Discovery in a research report on Wednesday, March 5th. Morgan Stanley dropped their price target on Warner Bros. Discovery from $12.00 to $10.00 and set an “equal weight” rating for the company in a research note on Tuesday. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a research report on Friday, February 28th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $12.22.

Warner Bros. Discovery Trading Up 0.3 %

NASDAQ WBD opened at $9.04 on Friday. The stock’s 50 day moving average is $9.35 and its 200 day moving average is $9.82. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $22.19 billion, a PE ratio of -1.97, a P/E/G ratio of 8.64 and a beta of 1.46. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly 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). 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 during the quarter, compared to the consensus estimate of $9.66 billion. During the same quarter in the previous year, the business earned ($0.40) earnings per share. The firm’s revenue was down 9.8% compared to the same quarter last year. Research analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Insider Transactions at Warner Bros. Discovery

In other 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 acquired at an average cost of $11.41 per share, for a total transaction of $197,917.86. Following the purchase, the director now 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.