285,900 Shares in Warner Bros. Discovery, Inc. (NASDAQ:WBD) Purchased by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. acquired a new stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the fourth quarter, Holdings Channel reports. The fund acquired 285,900 shares of the company’s stock, valued at approximately $3,022,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Norges Bank acquired a new stake in Warner Bros. Discovery during the fourth quarter worth about $362,210,000. Contrarius Group Holdings Ltd bought a new stake in shares of Warner Bros. Discovery during the 4th quarter worth approximately $168,930,000. FMR LLC lifted its holdings in shares of Warner Bros. Discovery by 478.5% during the 4th quarter. FMR LLC now owns 14,278,600 shares of the company’s stock worth $150,925,000 after acquiring an additional 11,810,191 shares during the period. Slate Path Capital LP boosted its position in shares of Warner Bros. Discovery by 36.6% during the 4th quarter. Slate Path Capital LP now owns 23,801,000 shares of the company’s stock worth $251,577,000 after acquiring an additional 6,381,000 shares in the last quarter. Finally, Amundi increased its stake in Warner Bros. Discovery by 108.1% in the fourth quarter. Amundi now owns 10,151,114 shares of the company’s stock valued at $102,120,000 after acquiring an additional 5,272,717 shares during the last quarter. Institutional investors and hedge funds own 59.95% of the company’s stock.

Insider Buying and Selling

In other news, 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 acquired at an average price of $11.41 per share, with a total value of $197,917.86. Following the completion of the purchase, 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 acquisition was disclosed in a document filed with the SEC, which is available at this link. 1.90% of the stock is owned by insiders.

Warner Bros. Discovery Price Performance

Shares of NASDAQ:WBD opened at $9.16 on Friday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $12.70. The firm has a market cap of $22.49 billion, a PE ratio of -2.00, a price-to-earnings-growth ratio of 8.64 and a beta of 1.46. The firm’s fifty day moving average is $9.18 and its 200-day moving average is $9.88.

Warner Bros. Discovery (NASDAQ:WBD) last announced its earnings results on Thursday, May 8th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.06). 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 $8.98 billion for the quarter, compared to analyst estimates of $9.66 billion. During the same period in the previous year, the firm posted ($0.40) earnings per share. The firm’s quarterly revenue was down 9.8% compared to the same quarter last year. Sell-side analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on WBD. Barclays upped their target price on Warner Bros. Discovery from $7.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Friday, May 9th. Citigroup upped their price objective on Warner Bros. Discovery from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a research report on Friday, February 28th. KeyCorp dropped their target price on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Finally, Barrington Research restated an “outperform” rating and issued a $16.00 price target on shares of Warner Bros. Discovery in a research note on Tuesday. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Warner Bros. Discovery currently has an average rating of “Moderate Buy” and an average price target of $12.22.

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.