Piazza Samuel A. Jr. Di Purchases 17,346 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) Stock

Warner Bros. Discovery, Inc. (NASDAQ:WBD) Director Piazza Samuel A. Jr. Di bought 17,346 shares of Warner Bros. Discovery stock in a transaction dated Monday, March 3rd. The stock was acquired at an average price of $11.41 per share, with a total value of $197,917.86. Following the acquisition, 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Warner Bros. Discovery Trading Up 1.0 %

Shares of NASDAQ:WBD traded up $0.12 during midday trading on Tuesday, hitting $11.14. The company had a trading volume of 16,936,442 shares, compared to its average volume of 29,956,440. The firm has a fifty day simple moving average of $10.34 and a 200 day simple moving average of $9.31. 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 cap of $27.32 billion, a price-to-earnings ratio of -2.42, a PEG ratio of 8.64 and a beta of 1.49. 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) last issued its earnings results on Thursday, February 27th. The company reported ($0.20) earnings per share (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 during the quarter, compared to analyst estimates of $10.16 billion. On average, analysts predict that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on WBD. Barrington Research reiterated an “outperform” rating and set a $16.00 target price on shares of Warner Bros. Discovery in a research note on Thursday, February 27th. Raymond James lifted their price objective on Warner Bros. Discovery from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Friday, November 8th. 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. Wolfe Research upgraded shares of Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research report on Monday, November 11th. Finally, Barclays boosted their price target on shares of Warner Bros. Discovery from $10.00 to $12.00 and gave the company an “equal weight” rating in a research report on Friday. Ten analysts have rated the stock with a hold rating and ten 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 $11.75.

Hedge Funds Weigh In On Warner Bros. Discovery

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in Warner Bros. Discovery during the fourth quarter worth $362,210,000. Contrarius Group Holdings Ltd bought a new position in Warner Bros. Discovery in the fourth quarter valued at about $168,930,000. FMR LLC raised its stake in Warner Bros. Discovery by 478.5% during the fourth quarter. FMR LLC now owns 14,278,600 shares of the company’s stock worth $150,925,000 after acquiring an additional 11,810,191 shares in the last quarter. Slate Path Capital LP lifted its holdings in shares of Warner Bros. Discovery by 36.6% in the fourth quarter. Slate Path Capital LP now owns 23,801,000 shares of the company’s stock worth $251,577,000 after acquiring an additional 6,381,000 shares during the last quarter. Finally, Sachem Head Capital Management LP acquired a new stake in shares of Warner Bros. Discovery in the 4th quarter valued at approximately $64,847,000. 59.95% of the stock is owned by institutional investors and hedge funds.

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.