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 shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. 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 bought and sold shares of the company. Colonial Trust Advisors lifted its stake in Warner Bros. Discovery by 71.8% during the 4th quarter. Colonial Trust Advisors now owns 2,383 shares of the company's stock valued at $25,000 after acquiring an additional 996 shares during the period. Stonebridge Financial Group LLC purchased a new position in shares of Warner Bros. Discovery during the 4th quarter valued at approximately $26,000. SRS Capital Advisors Inc. increased its holdings 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 valued at $27,000 after purchasing an additional 1,940 shares in the last quarter. Graney & King LLC purchased a new position in shares of Warner Bros. Discovery during the 4th quarter valued at approximately $28,000. Finally, Ethos Financial Group LLC purchased a new position in shares of Warner Bros. Discovery during the 4th quarter valued at approximately $29,000. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WBD has been the subject of several recent research reports. KeyCorp cut 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. Raymond James cut their target price on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an "outperform" rating for the company in a report on Friday, April 4th. Morgan Stanley cut their target price on shares of Warner Bros. Discovery from $12.00 to $10.00 and set an "equal weight" rating for the company in a report on Tuesday, May 6th. Citigroup cut their price target on shares of Warner Bros. Discovery from $15.00 to $14.00 and set a "buy" rating for the company in a report on Thursday. Finally, Benchmark reissued a "buy" rating and issued a $18.00 price target on shares of Warner Bros. Discovery in a report on Wednesday, February 26th. Eleven 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, the company presently has an average rating of "Moderate Buy" and a consensus target price of $12.17.

Insider Activity

In related news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was purchased at an average price of $11.41 per share, for a total transaction of $197,917.86. Following the transaction, the director now owns 159,932 shares in the company, valued at $1,824,824.12. This trade represents a 12.17% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.90% of the company's stock.

Warner Bros. Discovery Price Performance

Warner Bros. Discovery stock traded down $0.19 during midday trading on Friday, reaching $9.85. The company's stock had a trading volume of 52,968,974 shares, compared to its average volume of 33,435,681. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.64 and a fifty-two week high of $12.70. 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 stock's 50 day simple moving average is $8.94 and its 200 day simple moving average is $9.94. The firm has a market capitalization of $24.18 billion, a PE ratio of -2.15, a P/E/G ratio of 8.64 and a beta of 1.46.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.18) earnings per share for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.06). Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The firm had revenue of $8.98 billion during the quarter, compared to analysts' expectations of $9.66 billion. During the same quarter in the prior year, the business earned ($0.40) EPS. The company's quarterly revenue was down 9.8% compared to the same quarter last year. On average, equities research analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current 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.