Alpine Global Management LLC Purchases Shares of 235,000 Warner Bros. Discovery, Inc. $WBD

Alpine Global Management LLC acquired a new position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 235,000 shares of the company’s stock, valued at approximately $6,773,000. Warner Bros. Discovery accounts for 1.2% of Alpine Global Management LLC’s holdings, making the stock its 15th biggest position.

A number of other large investors have also recently made changes to their positions in WBD. Swiss RE Ltd. bought a new position in shares of Warner Bros. Discovery during the fourth quarter valued at approximately $26,000. Fideuram Asset Management Ireland dac bought a new stake in Warner Bros. Discovery in the fourth quarter valued at $29,000. MV Capital Management Inc. bought a new stake in Warner Bros. Discovery in the fourth quarter valued at $30,000. Rakuten Securities Inc. increased its position in Warner Bros. Discovery by 81.5% during the 4th quarter. Rakuten Securities Inc. now owns 1,160 shares of the company’s stock valued at $33,000 after purchasing an additional 521 shares during the period. Finally, JPL Wealth Management LLC bought a new position in Warner Bros. Discovery in the 3rd quarter worth $33,000. 59.95% of the stock is currently owned by institutional investors.

Warner Bros. Discovery Trading Down 0.2%

NASDAQ:WBD opened at $26.20 on Friday. Warner Bros. Discovery, Inc. has a one year low of $10.27 and a one year high of $30.00. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.73 and a quick ratio of 0.73. The company’s 50-day simple moving average is $27.05 and its 200 day simple moving average is $27.64. The firm has a market capitalization of $65.69 billion, a P/E ratio of -37.43 and a beta of 1.54.

Warner Bros. Discovery (NASDAQ:WBD) last released its earnings results on Wednesday, May 6th. The company reported ($1.17) earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $8.89 billion. During the same quarter in the previous year, the business posted ($0.18) earnings per share. Warner Bros. Discovery’s revenue for the quarter was down 1.0% on a year-over-year basis. As a group, analysts forecast that Warner Bros. Discovery, Inc. will post -1.07 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on WBD shares. Raymond James Financial reaffirmed an “underperform” rating on shares of Warner Bros. Discovery in a research report on Friday, February 27th. KeyCorp reiterated an “overweight” rating on shares of Warner Bros. Discovery in a research report on Friday, April 24th. Weiss Ratings lowered shares of Warner Bros. Discovery from a “hold (c-)” rating to a “sell (d-)” rating in a report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft downgraded Warner Bros. Discovery from a “buy” rating to a “hold” rating and upped their target price for the stock from $29.50 to $31.00 in a report on Friday, February 27th. Finally, UBS Group increased their target price on Warner Bros. Discovery from $30.00 to $31.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Warner Bros. Discovery currently has a consensus rating of “Hold” and a consensus price target of $27.04.

Warner Bros. Discovery 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.