Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Purchased by Diametric Capital LP

Diametric Capital LP boosted its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 24.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,593 shares of the company’s stock after buying an additional 12,442 shares during the period. Diametric Capital LP’s holdings in Warner Bros. Discovery were worth $662,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Cerity Partners LLC raised its position in shares of Warner Bros. Discovery by 81.0% in the 3rd quarter. Cerity Partners LLC now owns 210,104 shares of the company’s stock valued at $1,733,000 after purchasing an additional 94,050 shares during the last quarter. Townsquare Capital LLC raised its holdings in shares of Warner Bros. Discovery by 47.9% in the third quarter. Townsquare Capital LLC now owns 27,134 shares of the company’s stock worth $224,000 after buying an additional 8,784 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Warner Bros. Discovery by 3.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 435,989 shares of the company’s stock worth $3,597,000 after buying an additional 15,414 shares during the period. Public Sector Pension Investment Board grew its holdings in shares of Warner Bros. Discovery by 14.0% during the third quarter. Public Sector Pension Investment Board now owns 84,525 shares of the company’s stock valued at $697,000 after buying an additional 10,400 shares during the last quarter. Finally, Erste Asset Management GmbH acquired a new position in shares of Warner Bros. Discovery in the 3rd quarter valued at $1,474,000. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Warner Bros. Discovery news, Director Piazza Samuel A. Jr. Di bought 17,346 shares of Warner Bros. Discovery stock in a transaction dated Monday, March 3rd. The stock was acquired at an average cost of $11.41 per share, for a total transaction of $197,917.86. Following the completion of the transaction, the director now directly owns 159,932 shares of the company’s stock, valued at approximately $1,824,824.12. This represents a 12.17 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on WBD shares. Moffett Nathanson upgraded Warner Bros. Discovery from a “neutral” rating to a “buy” rating and boosted their price target for the company from $9.00 to $13.00 in a research note on Tuesday, January 21st. The Goldman Sachs Group increased their price target on shares of Warner Bros. Discovery from $9.50 to $10.75 and gave the stock a “neutral” rating in a report on Thursday, December 19th. Rosenblatt Securities restated a “neutral” rating and set a $13.00 price objective on shares of Warner Bros. Discovery in a research note on Friday, March 7th. KeyCorp increased 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, Barrington Research restated an “outperform” rating and set a $16.00 target price on shares of Warner Bros. Discovery in a research report on Wednesday, March 5th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Warner Bros. Discovery presently has a consensus rating of “Moderate Buy” and an average target price of $11.91.

Warner Bros. Discovery Price Performance

Shares of NASDAQ WBD opened at $10.73 on Tuesday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a fifty day moving average of $10.54 and a 200 day moving average of $9.75. The firm has a market cap of $26.34 billion, a PE ratio of -2.34, a PEG ratio of 8.64 and a beta of 1.48. Warner Bros. Discovery, Inc. has a one year low of $6.64 and a one year high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last released its earnings results on Thursday, February 27th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.30). Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The company had revenue of $10.03 billion for the quarter, compared to analysts’ expectations of $10.16 billion. As a group, research analysts predict that Warner Bros. Discovery, Inc. will post -4.33 EPS 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.