Tidal Investments LLC Has $1.18 Million Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Tidal Investments LLC increased its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 89.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 142,649 shares of the company's stock after purchasing an additional 67,355 shares during the period. Tidal Investments LLC's holdings in Warner Bros. Discovery were worth $1,177,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WBD. Raymond James & Associates grew its position in Warner Bros. Discovery by 0.3% in the 2nd quarter. Raymond James & Associates now owns 1,466,922 shares of the company's stock worth $10,914,000 after purchasing an additional 4,554 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in Warner Bros. Discovery by 12.1% during the second quarter. Nisa Investment Advisors LLC now owns 156,820 shares of the company's stock valued at $1,167,000 after acquiring an additional 16,905 shares during the period. Fifth Third Wealth Advisors LLC acquired a new position in Warner Bros. Discovery in the 2nd quarter valued at approximately $140,000. JB Capital LLC bought a new stake in shares of Warner Bros. Discovery in the 2nd quarter worth approximately $99,000. Finally, Premier Path Wealth Partners LLC grew its holdings in shares of Warner Bros. Discovery by 8.7% during the 2nd quarter. Premier Path Wealth Partners LLC now owns 144,970 shares of the company's stock worth $1,079,000 after purchasing an additional 11,631 shares in the last quarter. Institutional investors and hedge funds own 59.95% of the company's stock.

Warner Bros. Discovery Stock Up 1.9 %

NASDAQ WBD traded up $0.20 during trading hours on Friday, hitting $10.69. 52,312,984 shares of the company traded hands, compared to its average volume of 29,780,215. The stock has a market capitalization of $26.22 billion, a price-to-earnings ratio of -2.33 and a beta of 1.52. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $12.70. The business's 50-day moving average is $9.38 and its 200-day moving average is $8.32. 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 (NASDAQ:WBD - Get Free Report) last issued its earnings results on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.07) by $0.12. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The company had revenue of $9.62 billion for the quarter, compared to analysts' expectations of $9.79 billion. During the same period in the prior year, the firm earned ($0.17) EPS. Warner Bros. Discovery's quarterly revenue was down 3.6% compared to the same quarter last year. Sell-side analysts anticipate that Warner Bros. Discovery, Inc. will post -4.37 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Barclays upped their target price on shares of Warner Bros. Discovery from $8.00 to $10.00 and gave the company an "equal weight" rating in a research note on Friday, November 8th. Needham & Company LLC restated a "hold" rating on shares of Warner Bros. Discovery in a research report on Thursday, October 10th. Barrington Research reaffirmed an "outperform" rating and issued a $16.00 price target on shares of Warner Bros. Discovery in a research note on Friday, December 13th. Benchmark reiterated a "buy" rating and set a $18.00 price objective on shares of Warner Bros. Discovery in a research note on Friday, September 13th. Finally, Bank of America restated a "buy" rating and issued a $14.00 target price on shares of Warner Bros. Discovery in a research note on Thursday, December 12th. Twelve equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $11.44.

Insider Buying and Selling at Warner Bros. Discovery

In related news, insider Savalle Sims sold 169,436 shares of Warner Bros. Discovery stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $12.36, for a total value of $2,094,228.96. Following the transaction, the insider now directly owns 599,317 shares of the company's stock, valued at $7,407,558.12. This trade represents a 22.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.80% of the company's stock.

Warner Bros. Discovery 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.