Mint Tower Capital Management B.V. Takes Position in Warner Bros. Discovery, Inc. $WBD

Mint Tower Capital Management B.V. purchased a new stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 50,000 shares of the company’s stock, valued at approximately $1,441,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. JFS Wealth Advisors LLC grew its position in Warner Bros. Discovery by 12.4% during the 4th quarter. JFS Wealth Advisors LLC now owns 3,425 shares of the company’s stock worth $99,000 after purchasing an additional 378 shares during the period. Salomon & Ludwin LLC grew its position in Warner Bros. Discovery by 20.2% during the 4th quarter. Salomon & Ludwin LLC now owns 2,494 shares of the company’s stock worth $71,000 after purchasing an additional 419 shares during the period. CYBER HORNET ETFs LLC grew its position in Warner Bros. Discovery by 7.1% during the 4th quarter. CYBER HORNET ETFs LLC now owns 6,396 shares of the company’s stock worth $184,000 after purchasing an additional 425 shares during the period. Root Financial Partners LLC grew its position in Warner Bros. Discovery by 17.5% during the 4th quarter. Root Financial Partners LLC now owns 2,879 shares of the company’s stock worth $83,000 after purchasing an additional 429 shares during the period. Finally, Optas LLC grew its position in Warner Bros. Discovery by 3.0% during the 4th quarter. Optas LLC now owns 15,120 shares of the company’s stock worth $436,000 after purchasing an additional 435 shares during the period. 59.95% of the stock is currently owned by institutional investors.

Warner Bros. Discovery Price Performance

NASDAQ:WBD opened at $26.86 on Friday. Warner Bros. Discovery, Inc. has a 52 week low of $9.98 and a 52 week 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 stock has a market capitalization of $67.34 billion, a PE ratio of -38.37 and a beta of 1.54. The stock’s 50-day moving average price is $27.13 and its 200-day moving average price is $27.53.

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

Insiders Place Their Bets

In related news, Director Paul A. Gould sold 600,000 shares of Warner Bros. Discovery stock in a transaction on Monday, March 16th. The shares were sold at an average price of $27.35, for a total value of $16,410,000.00. Following the sale, the director owned 244,357 shares of the company’s stock, valued at approximately $6,683,163.95. This trade represents a 71.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Fazal F. Merchant sold 35,000 shares of Warner Bros. Discovery stock in a transaction on Monday, March 16th. The shares were sold at an average price of $27.48, for a total transaction of $961,800.00. Following the completion of the sale, the director directly owned 95,539 shares in the company, valued at $2,625,411.72. This represents a 26.81% decrease in their position. The SEC filing for this sale provides additional information. 1.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

WBD has been the topic of a number of analyst reports. Guggenheim reaffirmed a “neutral” rating on shares of Warner Bros. Discovery in a research note on Thursday, May 7th. Huber Research raised shares of Warner Bros. Discovery from an “underweight” rating to an “overweight” rating in a research note on Monday, June 1st. Raymond James Financial reaffirmed an “underperform” rating on shares of Warner Bros. Discovery in a research note on Friday, February 27th. Benchmark reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a research note on Friday, February 27th. Finally, Wells Fargo & Company initiated coverage on shares of Warner Bros. Discovery in a research note on Monday, March 9th. They set an “equal weight” rating and a $31.00 price objective on the stock. 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 given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $27.04.

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.