Piazza Samuel A. Jr. Di Purchases 17,346 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) Stock

Warner Bros. Discovery, Inc. (NASDAQ:WBD) Director Piazza Samuel A. Jr. Di bought 17,346 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was purchased at an average price of $11.41 per share, for a total transaction of $197,917.86. Following the completion of the purchase, the director now directly owns 159,932 shares in the company, valued at $1,824,824.12. The trade was a 12.17 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Warner Bros. Discovery Price Performance

Warner Bros. Discovery stock opened at $11.43 on Thursday. The business has a 50 day simple moving average of $10.36 and a 200 day simple moving average of $9.34. Warner Bros. Discovery, Inc. has a one year low of $6.64 and a one year high of $12.70. The company has a market capitalization of $28.04 billion, a PE ratio of -2.50, a price-to-earnings-growth ratio of 8.64 and a beta of 1.49. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80.

Warner Bros. Discovery (NASDAQ:WBD) last issued its earnings results on Thursday, February 27th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of $0.10 by ($0.30). The firm had revenue of $10.03 billion during the quarter, compared to analyst estimates of $10.16 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. On average, sell-side analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Institutional Trading of Warner Bros. Discovery

Hedge funds have recently modified their holdings of the company. Norges Bank acquired a new position in shares of Warner Bros. Discovery in the 4th quarter worth approximately $362,210,000. Contrarius Group Holdings Ltd acquired a new position in Warner Bros. Discovery in the fourth quarter worth $168,930,000. FMR LLC grew its holdings in shares of Warner Bros. Discovery by 478.5% during the fourth quarter. FMR LLC now owns 14,278,600 shares of the company’s stock worth $150,925,000 after purchasing an additional 11,810,191 shares during the last quarter. Slate Path Capital LP increased its stake in shares of Warner Bros. Discovery by 36.6% in the fourth quarter. Slate Path Capital LP now owns 23,801,000 shares of the company’s stock valued at $251,577,000 after buying an additional 6,381,000 shares in the last quarter. Finally, Sachem Head Capital Management LP bought a new position in shares of Warner Bros. Discovery in the fourth quarter valued at about $64,847,000. Institutional investors and hedge funds own 59.95% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on WBD shares. Rosenblatt Securities upped their price target on shares of Warner Bros. Discovery from $9.00 to $13.00 and gave the company a “neutral” rating in a report on Friday, December 13th. Wolfe Research raised Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research report on Monday, November 11th. Benchmark reiterated a “buy” rating and set a $18.00 price target on shares of Warner Bros. Discovery in a report on Wednesday, February 26th. KeyCorp raised their price objective on shares of Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 10th. Finally, Barclays upped their target price on shares of Warner Bros. Discovery from $10.00 to $12.00 and gave the company an “equal weight” rating in a research note on Friday, February 28th. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Warner Bros. Discovery currently has a consensus rating of “Moderate Buy” and an average price target of $11.91.

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.