Magnetar Financial LLC Invests $91.74 Million in Warner Bros. Discovery, Inc. $WBD

Magnetar Financial LLC bought a new position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 3,183,153 shares of the company’s stock, valued at approximately $91,738,000. Warner Bros. Discovery accounts for approximately 0.9% of Magnetar Financial LLC’s portfolio, making the stock its 8th biggest holding.

Other institutional investors have also modified their holdings of the company. Swiss RE Ltd. purchased a new position in shares of Warner Bros. Discovery during the fourth quarter worth approximately $26,000. Fideuram Asset Management Ireland dac purchased a new position in Warner Bros. Discovery during the fourth quarter valued at approximately $29,000. Rakuten Securities Inc. increased its holdings in Warner Bros. Discovery by 81.5% during the fourth quarter. Rakuten Securities Inc. now owns 1,160 shares of the company’s stock valued at $33,000 after buying an additional 521 shares during the period. TOWER TRUST & INVESTMENT Co increased its holdings in Warner Bros. Discovery by 4,730.8% during the fourth quarter. TOWER TRUST & INVESTMENT Co now owns 1,256 shares of the company’s stock valued at $36,000 after buying an additional 1,230 shares during the period. Finally, Elyxium Wealth LLC purchased a new position in Warner Bros. Discovery during the fourth quarter valued at approximately $44,000. 59.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WBD has been the topic of several research reports. KeyCorp reissued an “overweight” rating on shares of Warner Bros. Discovery in a report on Friday, April 24th. TD Cowen lifted their price objective on shares of Warner Bros. Discovery from $22.00 to $26.00 and gave the company a “hold” rating in a report on Friday, February 27th. Guggenheim reissued a “neutral” rating on shares of Warner Bros. Discovery in a report on Thursday, May 7th. Raymond James Financial reissued an “underperform” rating on shares of Warner Bros. Discovery in a report on Friday, February 27th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Warner Bros. Discovery from a “buy” rating to a “hold” rating and lifted their price objective for the company from $29.50 to $31.00 in a report on Friday, February 27th. One investment 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 issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $27.04.

Warner Bros. Discovery Price Performance

Shares of WBD opened at $26.60 on Wednesday. The company has a market cap of $66.69 billion, a price-to-earnings ratio of -38.00 and a beta of 1.54. Warner Bros. Discovery, Inc. has a twelve month low of $10.27 and a twelve month high of $30.00. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.92. The company has a 50 day moving average of $27.09 and a two-hundred day moving average of $27.60.

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

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.