Senator Investment Group LP Takes Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Senator Investment Group LP acquired a new stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 4,165,000 shares of the company’s stock, valued at approximately $44,024,000. Warner Bros. Discovery accounts for approximately 1.3% of Senator Investment Group LP’s portfolio, making the stock its 29th biggest position.

Several other hedge funds have also recently modified their holdings of the business. Colonial Trust Advisors lifted its position in shares of Warner Bros. Discovery by 71.8% in the fourth quarter. Colonial Trust Advisors now owns 2,383 shares of the company’s stock valued at $25,000 after acquiring an additional 996 shares in the last quarter. Stonebridge Financial Group LLC purchased a new stake in Warner Bros. Discovery during the 4th quarter valued at $26,000. SRS Capital Advisors Inc. boosted its stake in shares of Warner Bros. Discovery by 313.4% during the 4th quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company’s stock worth $27,000 after purchasing an additional 1,940 shares during the period. Graney & King LLC purchased a new position in shares of Warner Bros. Discovery during the fourth quarter valued at approximately $28,000. Finally, Ethos Financial Group LLC purchased a new stake in Warner Bros. Discovery in the fourth quarter worth $29,000. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Performance

WBD opened at $8.11 on Monday. The business has a fifty day simple moving average of $10.01 and a 200-day simple moving average of $9.76. The firm has a market cap of $19.91 billion, a PE ratio of -1.77, a P/E/G ratio of 8.64 and a beta of 1.43. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.64 and a fifty-two week high of $12.70.

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

Analyst Ratings Changes

Several equities research analysts have weighed in on WBD shares. Rosenblatt Securities reiterated a “neutral” rating and issued a $13.00 target price on shares of Warner Bros. Discovery in a report on Friday, March 7th. Benchmark reaffirmed a “buy” rating and set a $18.00 target price on shares of Warner Bros. Discovery in a research report on Wednesday, February 26th. Moffett Nathanson raised Warner Bros. Discovery from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $9.00 to $13.00 in a report on Tuesday, January 21st. Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a research report on Friday, February 28th. Finally, KeyCorp lowered their price objective on Warner Bros. Discovery from $14.00 to $13.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $11.76.

Insider Transactions at Warner Bros. Discovery

In related news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was bought at an average cost of $11.41 per share, with a total value of $197,917.86. Following the completion of the acquisition, the director now owns 159,932 shares in the company, valued at $1,824,824.12. The trade was a 12.17 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.80% of the stock is currently owned by corporate insiders.

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.