1,982,574 Shares in Warner Bros. Discovery, Inc. (NASDAQ:WBD) Bought by Voloridge Investment Management LLC

Voloridge Investment Management LLC bought a new position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,982,574 shares of the company's stock, valued at approximately $20,956,000. Voloridge Investment Management LLC owned 0.08% of Warner Bros. Discovery as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Warner Bros. Discovery by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 252,650,791 shares of the company's stock worth $2,670,519,000 after purchasing an additional 1,658,415 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Warner Bros. Discovery by 3.6% during the fourth quarter. Geode Capital Management LLC now owns 57,441,931 shares of the company's stock worth $605,633,000 after purchasing an additional 1,991,441 shares in the last quarter. Norges Bank purchased a new stake in Warner Bros. Discovery during the 4th quarter worth approximately $362,210,000. Slate Path Capital LP lifted its position in shares of Warner Bros. Discovery by 36.6% in the fourth quarter. Slate Path Capital LP now owns 23,801,000 shares of the company's stock valued at $251,577,000 after acquiring an additional 6,381,000 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Warner Bros. Discovery by 7.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 23,608,829 shares of the company's stock valued at $249,545,000 after acquiring an additional 1,725,775 shares in the last quarter. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Warner Bros. Discovery

In other news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were purchased at an average price of $11.41 per share, for a total transaction of $197,917.86. Following the acquisition, the director now owns 159,932 shares of the company's stock, valued at $1,824,824.12. This represents a 12.17% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.80% of the company's stock.

Analyst Upgrades and Downgrades

WBD has been the subject of a number of research reports. Benchmark reaffirmed a "buy" rating and set a $18.00 target price on shares of Warner Bros. Discovery in a report on Wednesday, February 26th. Barclays raised their target price on shares of 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 boosted their target price on Warner Bros. Discovery from $13.00 to $15.00 and gave the stock a "buy" rating in a report on Wednesday, March 5th. Morgan Stanley cut their price target on 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. Finally, Rosenblatt Securities reiterated a "neutral" rating and set a $13.00 price objective on shares of Warner Bros. Discovery in a research report on Friday, March 7th. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, Warner Bros. Discovery presently has an average rating of "Moderate Buy" and an average target price of $12.22.

Warner Bros. Discovery Trading Down 0.2%

Shares of NASDAQ:WBD traded down $0.02 during midday trading on Friday, reaching $9.00. 21,960,345 shares of the company's stock were exchanged, compared to its average volume of 33,291,660. The stock has a market cap of $22.09 billion, a price-to-earnings ratio of -1.97, a P/E/G ratio of 8.64 and a beta of 1.46. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.64 and a fifty-two week high of $12.70. The firm's 50 day simple moving average is $9.06 and its two-hundred day simple moving average is $9.93. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.06). The company had revenue of $8.98 billion for the quarter, compared to analysts' expectations 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 company's quarterly revenue was down 9.8% compared to the same quarter last year. During the same period last year, the business earned ($0.40) EPS. As a group, sell-side analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Warner Bros. Discovery Company 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.