Occudo Quantitative Strategies LP Purchases Shares of 85,388 Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Occudo Quantitative Strategies LP purchased a new stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 85,388 shares of the company's stock, valued at approximately $903,000.

A number of other hedge funds also recently bought and sold shares of WBD. Norges Bank acquired a new stake in Warner Bros. Discovery in the 4th quarter valued at about $362,210,000. Contrarius Group Holdings Ltd acquired a new stake in Warner Bros. Discovery in the 4th quarter valued at about $168,930,000. FMR LLC lifted its stake in Warner Bros. Discovery by 478.5% during the fourth quarter. FMR LLC now owns 14,278,600 shares of the company's stock worth $150,925,000 after purchasing an additional 11,810,191 shares during the last quarter. Slate Path Capital LP boosted its holdings in 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 purchasing an additional 6,381,000 shares in the last quarter. Finally, Amundi boosted its holdings 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 purchasing an additional 5,272,717 shares in 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 acquired 17,346 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were purchased at an average cost of $11.41 per share, for a total transaction of $197,917.86. Following the transaction, the director now 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.90% of the stock is owned by corporate insiders.

Warner Bros. Discovery Stock Performance

Warner Bros. Discovery stock traded up $0.02 during trading hours on Friday, hitting $9.16. The stock had a trading volume of 32,361,227 shares, compared to its average volume of 33,180,126. The company has a 50-day moving average of $9.18 and a two-hundred day moving average of $9.88. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. The company 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. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.64 and a fifty-two week high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $9.66 billion. During the same period in the previous year, the company posted ($0.40) earnings per share. The company's quarterly revenue was down 9.8% on a year-over-year basis. On average, equities research analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Benchmark reaffirmed a "buy" rating and issued a $18.00 price target on shares of Warner Bros. Discovery in a report on Wednesday, February 26th. Barclays increased their price objective on Warner Bros. Discovery from $7.00 to $9.00 and gave the company an "equal weight" rating in a report on Friday, May 9th. Rosenblatt Securities reissued a "neutral" rating and issued a $13.00 price objective on shares of Warner Bros. Discovery in a report on Friday, March 7th. Morgan Stanley decreased their price objective 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, Citigroup increased their price objective on Warner Bros. Discovery from $13.00 to $15.00 and gave the company a "buy" rating in a report on Wednesday, March 5th. Ten 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, the company has an average rating of "Moderate Buy" and an average target price 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.