43,612 Shares in Warner Bros. Discovery, Inc. (NASDAQ:WBD) Purchased by Stevens Capital Management LP

Stevens Capital Management LP purchased a new position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 43,612 shares of the company’s stock, valued at approximately $496,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WBD. Tokio Marine Asset Management Co. Ltd. lifted its stake in Warner Bros. Discovery by 9.0% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 61,762 shares of the company’s stock worth $703,000 after purchasing an additional 5,074 shares during the last quarter. Harvest Fund Management Co. Ltd lifted its stake in Warner Bros. Discovery by 8.7% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 21,429 shares of the company’s stock worth $243,000 after purchasing an additional 1,720 shares during the last quarter. GAMMA Investing LLC bought a new stake in Warner Bros. Discovery in the fourth quarter worth about $145,000. Lorne Steinberg Wealth Management Inc. lifted its stake in Warner Bros. Discovery by 2.5% in the fourth quarter. Lorne Steinberg Wealth Management Inc. now owns 222,527 shares of the company’s stock worth $2,532,000 after purchasing an additional 5,493 shares during the last quarter. Finally, Illinois Municipal Retirement Fund lifted its stake in Warner Bros. Discovery by 34.7% in the fourth quarter. Illinois Municipal Retirement Fund now owns 204,356 shares of the company’s stock worth $2,326,000 after purchasing an additional 52,632 shares during the last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Analyst Upgrades and Downgrades

WBD has been the subject of several research analyst reports. Morgan Stanley decreased their price target on shares of Warner Bros. Discovery from $14.00 to $10.00 and set an “equal weight” rating for the company in a research note on Monday, February 26th. Wolfe Research downgraded shares of Warner Bros. Discovery from a “peer perform” rating to an “underperform” rating and set a $7.00 price target for the company. in a research note on Tuesday. Benchmark reaffirmed a “buy” rating and set a $20.00 price target on shares of Warner Bros. Discovery in a research note on Monday, March 4th. Wells Fargo & Company lowered shares of Warner Bros. Discovery from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $16.00 to $12.00 in a report on Monday, January 29th. Finally, Rosenblatt Securities raised shares of Warner Bros. Discovery from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $7.00 to $10.00 in a report on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $13.83.

Warner Bros. Discovery Stock Performance

NASDAQ WBD traded down $0.09 on Thursday, reaching $8.29. 24,660,655 shares of the company’s stock traded hands, compared to its average volume of 26,472,490. The firm has a market cap of $20.23 billion, a price-to-earnings ratio of -6.47 and a beta of 1.51. The stock has a 50 day moving average price of $8.69 and a 200-day moving average price of $10.01. Warner Bros. Discovery, Inc. has a fifty-two week low of $8.02 and a fifty-two week high of $14.76. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.93 and a current ratio of 0.93.

Warner Bros. Discovery (NASDAQ:WBD) last posted its earnings results on Friday, February 23rd. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.05). The business had revenue of $10.28 billion for the quarter, compared to analyst estimates of $10.34 billion. Warner Bros. Discovery had a negative net margin of 7.57% and a negative return on equity of 3.48%. The company’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.42 earnings per share. Equities research analysts predict that Warner Bros. Discovery, Inc. will post -0.35 EPS for the current fiscal year.

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.