QVT Financial LP Acquires Shares of 457,850 Warner Bros. Discovery, Inc. (NASDAQ:WBD)

QVT Financial LP acquired a new stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 457,850 shares of the company's stock, valued at approximately $4,839,000. Warner Bros. Discovery comprises 0.4% of QVT Financial LP's portfolio, making the stock its 23rd largest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in WBD. Coldstream Capital Management Inc. increased its holdings in Warner Bros. Discovery by 14.6% during the 4th quarter. Coldstream Capital Management Inc. now owns 30,155 shares of the company's stock worth $319,000 after purchasing an additional 3,848 shares during the period. Credit Industriel ET Commercial purchased a new stake in Warner Bros. Discovery in the fourth quarter valued at about $1,163,000. Voya Investment Management LLC grew its position in Warner Bros. Discovery by 628.5% during the 4th quarter. Voya Investment Management LLC now owns 5,215,593 shares of the company's stock worth $55,129,000 after purchasing an additional 4,499,697 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Warner Bros. Discovery by 2.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,184,016 shares of the company's stock worth $33,656,000 after acquiring an additional 85,825 shares during the period. Finally, Pinebridge Investments L.P. raised its position in Warner Bros. Discovery by 3,195.0% during the 4th quarter. Pinebridge Investments L.P. now owns 703,902 shares of the company's stock worth $7,440,000 after buying an additional 682,539 shares during the last quarter. Hedge funds and other institutional investors own 59.95% of the company's stock.

Insider Activity at Warner Bros. Discovery

In related news, Director Piazza Samuel A. Jr. Di purchased 17,346 shares of Warner Bros. Discovery stock in a transaction on 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 transaction, the director now directly 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.80% of the company's stock.

Warner Bros. Discovery Stock Up 1.1 %

WBD stock opened at $8.59 on Friday. The firm has a market cap of $21.09 billion, a PE ratio of -1.88, a P/E/G ratio of 8.64 and a beta of 1.43. 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 50 day simple moving average of $9.81 and a 200 day simple moving average of $9.75. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last posted its quarterly 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). The business had revenue of $10.03 billion for the quarter, compared to analyst estimates of $10.16 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. Equities research analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on WBD. Wells Fargo & Company dropped their price objective on shares of Warner Bros. Discovery from $11.00 to $9.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 17th. Needham & Company LLC reaffirmed a "hold" rating on shares of Warner Bros. Discovery in a report on Friday, February 28th. Benchmark restated a "buy" rating and set a $18.00 target price on shares of Warner Bros. Discovery in a research report on Wednesday, February 26th. Rosenblatt Securities reaffirmed a "neutral" rating and issued a $13.00 price target on shares of Warner Bros. Discovery in a report on Friday, March 7th. Finally, Citigroup raised 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 investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Warner Bros. Discovery currently has a consensus rating of "Moderate Buy" and a consensus price target of $12.01.

Warner Bros. Discovery 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.

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