Mane Global Capital Management LP Invests $10.31 Million in Warner Bros. Discovery, Inc. $WBD

Mane Global Capital Management LP purchased a new stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 900,000 shares of the company’s stock, valued at approximately $10,314,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WBD. Rokos Capital Management LLP acquired a new position in Warner Bros. Discovery during the 2nd quarter valued at about $11,465,000. Investment House LLC bought a new stake in shares of Warner Bros. Discovery during the second quarter worth approximately $2,504,000. Sei Investments Co. lifted its holdings in Warner Bros. Discovery by 60.9% in the second quarter. Sei Investments Co. now owns 1,220,486 shares of the company’s stock valued at $13,987,000 after buying an additional 461,849 shares during the period. NewEdge Advisors LLC boosted its stake in Warner Bros. Discovery by 32.9% in the second quarter. NewEdge Advisors LLC now owns 84,090 shares of the company’s stock valued at $964,000 after acquiring an additional 20,836 shares during the last quarter. Finally, iSAM Funds UK Ltd grew its holdings in Warner Bros. Discovery by 28.5% during the 2nd quarter. iSAM Funds UK Ltd now owns 21,941 shares of the company’s stock worth $251,000 after acquiring an additional 4,872 shares during the period. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Warner Bros. Discovery Trading Up 4.5%

NASDAQ:WBD opened at $29.53 on Thursday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.07 and a quick ratio of 1.07. The business’s 50-day simple moving average is $21.92 and its 200-day simple moving average is $15.93. Warner Bros. Discovery, Inc. has a fifty-two week low of $7.52 and a fifty-two week high of $29.81. The stock has a market capitalization of $73.17 billion, a PE ratio of 155.43, a price-to-earnings-growth ratio of 1.08 and a beta of 1.60.

Warner Bros. Discovery (NASDAQ:WBD) last announced its earnings results on Thursday, November 6th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.02). The company had revenue of $9.05 billion for the quarter, compared to analyst estimates of $9.17 billion. Warner Bros. Discovery had a return on equity of 1.34% and a net margin of 1.28%.The business’s quarterly revenue was down 6.0% on a year-over-year basis. During the same quarter last year, the business posted $0.05 earnings per share. Sell-side analysts expect that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

WBD has been the topic of a number of analyst reports. Cowen downgraded Warner Bros. Discovery from a “buy” rating to a “hold” rating in a research note on Tuesday, September 16th. Barrington Research lowered Warner Bros. Discovery from an “outperform” rating to a “hold” rating in a research note on Friday, December 5th. Rothschild Redb upgraded Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 30th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $29.50 price target on shares of Warner Bros. Discovery in a research note on Monday. Finally, Seaport Global Securities increased their price target on shares of Warner Bros. Discovery from $15.00 to $24.00 and gave the company a “buy” rating in a research report on Friday, October 3rd. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $22.35.

Insider Buying and Selling

In other Warner Bros. Discovery news, CFO Gunnar Wiedenfels sold 222,210 shares of the stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $22.50, for a total transaction of $4,999,725.00. Following the completion of the transaction, the chief financial officer owned 918,940 shares in the company, valued at approximately $20,676,150. This represents a 19.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Lori C. Locke sold 4,122 shares of Warner Bros. Discovery stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $28.92, for a total value of $119,208.24. Following the completion of the sale, the chief accounting officer directly owned 100,962 shares in the company, valued at $2,919,821.04. This represents a 3.92% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 927,125 shares of company stock worth $18,663,597 over the last ninety days. Company insiders own 1.90% 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.