Polar Asset Management Partners Inc. Takes $3.02 Million Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Polar Asset Management Partners Inc. acquired a new position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 285,900 shares of the company's stock, valued at approximately $3,022,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Colonial Trust Advisors raised its holdings in Warner Bros. Discovery by 71.8% during the fourth quarter. Colonial Trust Advisors now owns 2,383 shares of the company's stock worth $25,000 after acquiring an additional 996 shares in the last quarter. Stonebridge Financial Group LLC bought a new stake in Warner Bros. Discovery in the fourth quarter valued at approximately $26,000. SRS Capital Advisors Inc. raised its stake in Warner Bros. Discovery by 313.4% in the fourth quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company's stock valued at $27,000 after buying an additional 1,940 shares during the period. Graney & King LLC bought a new stake in Warner Bros. Discovery in the fourth quarter valued at approximately $28,000. Finally, Ethos Financial Group LLC bought a new stake in Warner Bros. Discovery in the fourth quarter valued at approximately $29,000. 59.95% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Morgan Stanley dropped their price objective on Warner Bros. Discovery from $12.00 to $10.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 6th. Moffett Nathanson upgraded Warner Bros. Discovery from a "neutral" rating to a "buy" rating and increased their target price for the stock from $9.00 to $13.00 in a research note on Tuesday, January 21st. Rosenblatt Securities reiterated a "neutral" rating and set a $13.00 target price on shares of Warner Bros. Discovery in a research note on Friday, March 7th. Barrington Research reiterated an "outperform" rating and set a $16.00 target price on shares of Warner Bros. Discovery in a research note on Tuesday, May 13th. Finally, Wells Fargo & Company increased their target price on Warner Bros. Discovery from $9.00 to $10.00 and gave the stock an "equal weight" rating in a research note on Friday, May 9th. Ten 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, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $12.22.

Insider Buying and Selling

In related 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 cost of $11.41 per share, with a total value of $197,917.86. Following the transaction, the director now directly owns 159,932 shares in the company, valued at approximately $1,824,824.12. This trade represents a 12.17% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.90% of the stock is owned by corporate insiders.

Warner Bros. Discovery Price Performance

Shares of WBD traded up $0.18 during trading hours on Tuesday, reaching $9.23. The stock had a trading volume of 38,315,461 shares, compared to its average volume of 33,308,835. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70. The stock has a market capitalization of $22.66 billion, a PE ratio of -2.02, a PEG ratio of 8.64 and a beta of 1.46. 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 company's 50-day moving average is $9.15 and its two-hundred day moving average is $9.91.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last posted 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). The business had revenue of $8.98 billion for the quarter, compared to analyst estimates of $9.66 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The firm's quarterly revenue was down 9.8% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.40) earnings per share. Research analysts expect that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current 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.