Cohanzick Management LLC Acquires Shares of 20,000 Warner Bros. Discovery, Inc. (NASDAQ:WBD) (2024)

Cohanzick Management LLC bought a new position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD – Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 20,000 shares of the company’s stock, valued at approximately $228,000.

Other hedge funds have also recently modified their holdings of the company. Fortis Group Advisors LLC purchased a new position in Warner Bros. Discovery in the 3rd quarter valued at $25,000. Pacifica Partners Inc. raised its position in shares of Warner Bros. Discovery by 118.2% in the fourth quarter. Pacifica Partners Inc. now owns 2,483 shares of the company’s stock valued at $27,000 after buying an additional 1,345 shares during the last quarter. Milestone Investment Advisors LLC purchased a new position in shares of Warner Bros. Discovery in the third quarter worth about $28,000. Headinvest LLC acquired a new position in Warner Bros. Discovery during the third quarter worth about $28,000. Finally, Systematic Alpha Investments LLC purchased a new stake in Warner Bros. Discovery during the 3rd quarter valued at about $31,000. Institutional investors and hedge funds own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Up 2.9 %

Shares of WBD opened at $8.48 on Monday. Warner Bros. Discovery, Inc. has a fifty-two week low of $7.34 and a fifty-two week high of $14.76. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.87. The firm’s 50 day moving average price is $8.21 and its 200 day moving average price is $9.55.

Warner Bros. Discovery (NASDAQ:WBD – Get Free Report) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.16). The business had revenue of $9.96 billion during the quarter, compared to analyst estimates of $10.22 billion. Warner Bros. Discovery had a negative return on equity of 6.58% and a negative net margin of 7.45%. The business’s revenue was down 6.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.18 EPS. As a group, analysts predict that Warner Bros. Discovery, Inc. will post -0.38 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently weighed in on WBD. Morgan Stanley lowered their target price on Warner Bros. Discovery from $14.00 to $10.00 and set an “equal weight” rating on the stock in a report on Monday, February 26th. Rosenblatt Securities upgraded shares of Warner Bros. Discovery from a “sell” rating to a “neutral” rating and boosted their target price for the company from $7.00 to $10.00 in a report on Thursday, March 21st. JPMorgan Chase & Co. cut their price target on shares of Warner Bros. Discovery from $13.00 to $10.00 and set a “neutral” rating for the company in a report on Monday, February 26th. Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a report on Friday, May 10th. Finally, Wolfe Research lowered Warner Bros. Discovery from a “peer perform” rating to an “underperform” rating and set a $7.00 price objective for the company. in a research report on Tuesday, April 23rd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.16.

View Our Latest Analysis on Warner Bros. Discovery

About Warner Bros. Discovery

(Free Report)

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.

Featured Stories

• Five stocks we like better than Warner Bros. Discovery
• Should You Add These Warren Buffett Stocks to Your Portfolio?
• GameStop Roars Near 100% as Roaring Kitty Posts Massive Position
• Breakout Stocks: What They Are and How to Identify Them
• ZIM Shipping Stock Forecast, Earnings Triggers a Buy
• Energy and Oil Stocks Explained
• Hims & Hers Health Soars on Generic GLP-1 Rollout Plans

Want to see what other hedge funds are holding WBD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Warner Bros. Discovery, Inc. (NASDAQ:WBD – Free Report).

Receive News & Ratings for Warner Bros. Discovery Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Warner Bros. Discovery and related companies with MarketBeat.com's FREE daily email newsletter.