210,000 Shares in Warner Bros. Discovery, Inc. (NASDAQ:WBD) Bought by Quinn Opportunity Partners LLC

Quinn Opportunity Partners LLC 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 13F filing with the Securities and Exchange Commission. The institutional investor purchased 210,000 shares of the company's stock, valued at approximately $2,220,000.

Several other hedge funds have also added to or reduced their stakes in WBD. Norges Bank bought a new position in Warner Bros. Discovery in the 4th quarter valued at about $362,210,000. Contrarius Group Holdings Ltd bought a new position in Warner Bros. Discovery in the fourth quarter valued at approximately $168,930,000. FMR LLC raised its position in Warner Bros. Discovery by 478.5% during the fourth quarter. FMR LLC now owns 14,278,600 shares of the company's stock valued at $150,925,000 after purchasing an additional 11,810,191 shares in the last quarter. Amundi lifted its stake in Warner Bros. Discovery by 108.1% during the fourth quarter. Amundi now owns 10,151,114 shares of the company's stock worth $102,120,000 after purchasing an additional 5,272,717 shares during the last quarter. Finally, Pine Valley Investments Ltd Liability Co acquired a new stake in shares of Warner Bros. Discovery in the 4th quarter valued at $23,825,000. Institutional investors and hedge funds own 59.95% of the company's stock.

Analyst Upgrades and Downgrades

WBD has been the subject of several research analyst reports. The Goldman Sachs Group boosted their target price on Warner Bros. Discovery from $9.50 to $10.75 and gave the stock a "neutral" rating in a research note on Thursday, December 19th. 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. Moffett Nathanson upgraded shares of Warner Bros. Discovery from a "neutral" rating to a "buy" rating and raised their target price for the company from $9.00 to $13.00 in a research report on Tuesday, January 21st. Needham & Company LLC reiterated a "hold" rating on shares of Warner Bros. Discovery in a report on Friday, February 28th. Finally, Benchmark reissued a "buy" rating and set a $18.00 price objective on shares of Warner Bros. Discovery in a report on Wednesday, February 26th. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $11.66.

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Insider Buying and Selling

In related news, Director Piazza Samuel A. Jr. Di purchased 17,346 shares of the firm's stock in a transaction dated 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 completion of the transaction, the director now directly owns 159,932 shares in the company, valued at approximately $1,824,824.12. This represents a 12.17 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 1.80% of the stock is owned by insiders.

Warner Bros. Discovery Stock Performance

Shares of WBD traded up $0.23 during mid-day trading on Tuesday, hitting $8.25. The stock had a trading volume of 38,564,849 shares, compared to its average volume of 32,522,531. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a market cap of $20.25 billion, a P/E ratio of -1.80, a PEG ratio of 8.64 and a beta of 1.43. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $12.70. The business has a fifty day moving average price of $10.13 and a 200-day moving average price of $9.75.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of $0.10 by ($0.30). The business had revenue of $10.03 billion for the quarter, compared to analysts' expectations of $10.16 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. On average, equities research analysts expect that Warner Bros. Discovery, Inc. will post -4.33 EPS 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.