Paloma Partners Management Co Takes $317,000 Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Paloma Partners Management Co purchased a new stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 30,000 shares of the company's stock, valued at approximately $317,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Northern Trust Corp lifted its holdings in shares of Warner Bros. Discovery by 13.5% during the 4th quarter. Northern Trust Corp now owns 22,996,874 shares of the company's stock worth $243,077,000 after acquiring an additional 2,735,196 shares during the period. The Manufacturers Life Insurance Company lifted its stake in Warner Bros. Discovery by 7.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 23,608,829 shares of the company's stock worth $249,545,000 after purchasing an additional 1,725,775 shares during the period. Optiver Holding B.V. acquired a new stake in Warner Bros. Discovery during the fourth quarter valued at approximately $97,000. Quarry LP grew its stake in shares of Warner Bros. Discovery by 2,281.5% in the 4th quarter. Quarry LP now owns 3,096 shares of the company's stock valued at $33,000 after purchasing an additional 2,966 shares during the period. Finally, QVT Financial LP acquired a new position in shares of Warner Bros. Discovery in the 4th quarter worth approximately $4,839,000. 59.95% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on WBD. Barclays lowered their price target on Warner Bros. Discovery from $12.00 to $7.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. JPMorgan Chase & Co. increased their target price on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 14th. Benchmark restated a "buy" rating and issued a $18.00 price target on shares of Warner Bros. Discovery in a research report on Wednesday, February 26th. Raymond James dropped their price objective 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. Finally, Moffett Nathanson raised Warner Bros. Discovery from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $9.00 to $13.00 in a report on Tuesday, January 21st. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $12.01.

Insider Activity at Warner Bros. Discovery

In other news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of the firm'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 completion of the acquisition, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.80% of the stock is currently owned by corporate insiders.

Warner Bros. Discovery Trading Down 2.8 %

Shares of WBD traded down $0.24 on Thursday, reaching $8.43. 45,411,038 shares of the company's stock were exchanged, compared to its average volume of 32,886,188. The business has a 50 day moving average price of $9.63 and a two-hundred day moving average price of $9.78. 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 $20.69 billion, a P/E ratio of -1.84, a price-to-earnings-growth ratio of 8.64 and a beta of 1.43. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued its earnings results on Thursday, February 27th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of $0.10 by ($0.30). Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The business had revenue of $10.03 billion for the quarter, compared to the consensus estimate of $10.16 billion. Research analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current 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.