CenterBook Partners LP Purchases New Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

CenterBook Partners LP acquired a new position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 429,254 shares of the company's stock, valued at approximately $4,537,000.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in Warner Bros. Discovery by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 252,650,791 shares of the company's stock worth $2,670,519,000 after buying an additional 1,658,415 shares during the last quarter. Geode Capital Management LLC grew its position 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 acquiring an additional 1,991,441 shares during the last quarter. Norges Bank purchased a new position in shares of Warner Bros. Discovery during the fourth quarter worth approximately $362,210,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Warner Bros. Discovery by 5.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 16,547,162 shares of the company's stock valued at $174,904,000 after acquiring an additional 861,656 shares during the period. Finally, Contrarius Group Holdings Ltd purchased a new stake in Warner Bros. Discovery in the 4th quarter valued at $168,930,000. Hedge funds and other institutional investors own 59.95% of the company's stock.

Warner Bros. Discovery Price Performance

Warner Bros. Discovery stock traded up $0.21 during mid-day trading on Tuesday, hitting $8.23. 12,573,919 shares of the company were exchanged, compared to its average volume of 32,401,879. 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, Inc. has a 12-month low of $6.64 and a 12-month high of $12.70. The business's 50 day simple moving average is $10.17 and its two-hundred day simple moving average is $9.76. The company has a market capitalization of $20.20 billion, a P/E ratio of -1.80, a PEG ratio of 8.64 and a beta of 1.43.

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Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced its earnings results on Thursday, February 27th. The company reported ($0.20) earnings per share 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 firm had revenue of $10.03 billion during the quarter, compared to analyst estimates of $10.16 billion. Analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Insider Buying and Selling at Warner Bros. Discovery

In other news, Director Piazza Samuel A. Jr. Di bought 17,346 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was acquired 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 trade represents a 12.17 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on WBD shares. Rosenblatt Securities restated a "neutral" rating and issued a $13.00 price target on shares of Warner Bros. Discovery in a research report on Friday, March 7th. The Goldman Sachs Group upped their price target 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. Raymond James lowered their price objective on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an "outperform" rating on the stock in a research report on Friday, April 4th. Barclays dropped their target price 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. 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. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $11.66.

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.