ExodusPoint Capital Management LP Purchases 567,770 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

ExodusPoint Capital Management LP grew its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 169.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 903,506 shares of the company's stock after purchasing an additional 567,770 shares during the quarter. ExodusPoint Capital Management LP's holdings in Warner Bros. Discovery were worth $9,550,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Warner Bros. Discovery by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 252,650,791 shares of the company's stock valued at $2,670,519,000 after acquiring an additional 1,658,415 shares during the last quarter. State Street Corp lifted its stake in shares of Warner Bros. Discovery by 4.1% in the 3rd quarter. State Street Corp now owns 151,285,963 shares of the company's stock valued at $1,248,109,000 after purchasing an additional 5,898,611 shares during the period. Geode Capital Management LLC boosted its position in shares of Warner Bros. Discovery by 3.6% during the 4th quarter. Geode Capital Management LLC now owns 57,441,931 shares of the company's stock valued at $605,633,000 after purchasing an additional 1,991,441 shares in the last quarter. Norges Bank acquired a new stake in Warner Bros. Discovery during the fourth quarter worth approximately $362,210,000. Finally, EdgePoint Investment Group Inc. increased its holdings in Warner Bros. Discovery by 2.6% in the third quarter. EdgePoint Investment Group Inc. now owns 21,396,719 shares of the company's stock worth $176,523,000 after purchasing an additional 541,192 shares in the last quarter. Institutional investors and hedge funds own 59.95% of the company's stock.

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Warner Bros. Discovery Stock Performance

Warner Bros. Discovery stock traded down $1.30 during mid-day trading on Thursday, reaching $7.96. The company's stock had a trading volume of 21,299,930 shares, compared to its average volume of 32,281,723. The company has a market capitalization of $19.54 billion, a P/E ratio of -1.74, a PEG ratio of 8.64 and a beta of 1.43. The firm's fifty day moving average price is $10.29 and its two-hundred day moving average price is $9.76. Warner Bros. Discovery, Inc. has a 12-month low of $6.64 and a 12-month high of $12.70. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued 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). 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 for the quarter, compared to analysts' expectations of $10.16 billion. Sell-side analysts predict that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Insider Transactions at Warner Bros. Discovery

In other Warner Bros. Discovery news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was bought at an average price of $11.41 per share, with a total value of $197,917.86. Following the completion of 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 purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 1.80% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on WBD. Barrington Research reiterated an "outperform" rating and issued a $16.00 price objective on shares of Warner Bros. Discovery in a research note on Wednesday, March 5th. Moffett Nathanson upgraded shares of Warner Bros. Discovery from a "neutral" rating to a "buy" rating and boosted their price target for the company from $9.00 to $13.00 in a research note on Tuesday, January 21st. Barclays dropped their price objective on shares of Warner Bros. Discovery from $12.00 to $7.00 and set an "equal weight" rating on the stock in a research note on Tuesday. JPMorgan Chase & Co. upped their target price on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a "neutral" rating in a report on Tuesday, January 14th. Finally, Bank of America reissued a "buy" rating and issued a $14.00 price objective on shares of Warner Bros. Discovery in a research note on Thursday, December 12th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $11.71.

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.