Neo Ivy Capital Management Invests $3.70 Million in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Neo Ivy Capital Management purchased a new position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 350,115 shares of the company’s stock, valued at approximately $3,700,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Coronation Fund Managers Ltd. raised its position in Warner Bros. Discovery by 54.1% in the fourth quarter. Coronation Fund Managers Ltd. now owns 5,644,290 shares of the company’s stock valued at $59,660,000 after purchasing an additional 1,981,050 shares during the period. Prudential PLC increased its holdings in Warner Bros. Discovery by 31.1% during the 4th quarter. Prudential PLC now owns 135,163 shares of the company’s stock worth $1,429,000 after purchasing an additional 32,102 shares during the period. SVB Wealth LLC purchased a new position in shares of Warner Bros. Discovery in the 4th quarter valued at about $168,000. Natixis Advisors LLC increased its holdings in shares of Warner Bros. Discovery by 3.6% in the 4th quarter. Natixis Advisors LLC now owns 291,006 shares of the company’s stock valued at $3,076,000 after acquiring an additional 10,024 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Warner Bros. Discovery in the 4th quarter valued at about $362,210,000. Institutional investors and hedge funds own 59.95% of the company’s stock.

Insider Buying and Selling

In other Warner Bros. Discovery news, Director Piazza Samuel A. Jr. Di bought 17,346 shares of the stock in a transaction on Monday, March 3rd. The stock was purchased at an average price of $11.41 per share, with a total value of $197,917.86. Following the acquisition, the director now owns 159,932 shares of the company’s stock, valued at approximately $1,824,824.12. The trade was a 12.17% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on WBD. Barclays increased their price objective on Warner Bros. Discovery from $7.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Friday, May 9th. Barrington Research reaffirmed an “outperform” rating and set a $16.00 price objective on shares of Warner Bros. Discovery in a report on Tuesday, May 13th. Raymond James reduced their price objective on Warner Bros. Discovery from $14.00 to $13.00 and set an “outperform” rating for the company in a report on Friday, April 4th. Morgan Stanley cut their price target on Warner Bros. Discovery from $12.00 to $10.00 and set an “equal weight” rating for the company in a report on Tuesday, May 6th. Finally, Benchmark reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Warner Bros. Discovery in a research report on Wednesday, February 26th. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.22.

Warner Bros. Discovery Stock Up 0.8%

NASDAQ WBD opened at $9.02 on Friday. Warner Bros. Discovery, Inc. has a 1-year low of $6.64 and a 1-year high of $12.70. The stock’s 50 day moving average is $9.09 and its two-hundred day moving average is $9.91. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. The company has a market capitalization of $22.14 billion, a price-to-earnings ratio of -1.97, a PEG ratio of 8.64 and a beta of 1.46.

Warner Bros. Discovery (NASDAQ:WBD) last posted its earnings results on Thursday, May 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.06). Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The firm had revenue of $8.98 billion during the quarter, compared to the consensus estimate of $9.66 billion. During the same quarter last year, the firm posted ($0.40) EPS. The business’s revenue was down 9.8% on a year-over-year basis. Equities analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

About Warner Bros. Discovery

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.