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

Warner Bros. Discovery, Inc. (NASDAQ:WBD) Director Piazza Samuel A. Jr. Di acquired 17,346 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was purchased at an average price of $11.41 per share, with a total value of $197,917.86. Following the transaction, the director now owns 159,932 shares of the company’s stock, valued at approximately $1,824,824.12. This trade represents a 12.17 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

Warner Bros. Discovery Stock Performance

NASDAQ WBD opened at $11.32 on Wednesday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. The stock’s fifty day moving average is $10.34 and its two-hundred day moving average is $9.31. The firm has a market capitalization of $27.77 billion, a P/E ratio of -2.47, a price-to-earnings-growth ratio of 8.64 and a beta of 1.49. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.64 and a fifty-two week high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last announced 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). 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 analyst estimates of $10.16 billion. On average, research analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Rosenblatt Securities upped their price target on Warner Bros. Discovery from $9.00 to $13.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. KeyCorp upped their target price on Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 10th. Bank of America reissued a “buy” rating and issued a $14.00 price target on shares of Warner Bros. Discovery in a research note on Thursday, December 12th. Raymond James upped their price objective on shares of Warner Bros. Discovery from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Finally, Benchmark reiterated a “buy” rating and issued a $18.00 target price on shares of Warner Bros. Discovery in a research report on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Warner Bros. Discovery presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.75.

Institutional Trading of Warner Bros. Discovery

Hedge funds have recently made changes to their positions in the company. International Assets Investment Management LLC lifted its holdings in Warner Bros. Discovery by 629.4% in the third quarter. International Assets Investment Management LLC now owns 189,239 shares of the company’s stock valued at $1,561,000 after acquiring an additional 163,295 shares during the last quarter. First Trust Direct Indexing L.P. raised its position in Warner Bros. Discovery by 17.4% in the third quarter. First Trust Direct Indexing L.P. now owns 46,058 shares of the company’s stock valued at $380,000 after purchasing an additional 6,826 shares during the period. Robeco Institutional Asset Management B.V. lifted its stake in shares of Warner Bros. Discovery by 26.2% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,826,492 shares of the company’s stock valued at $23,319,000 after purchasing an additional 586,198 shares during the last quarter. Asset Management One Co. Ltd. grew its holdings in shares of Warner Bros. Discovery by 5.5% during the 3rd quarter. Asset Management One Co. Ltd. now owns 919,611 shares of the company’s stock worth $7,587,000 after purchasing an additional 47,542 shares during the period. Finally, Quintet Private Bank Europe S.A. increased its position in shares of Warner Bros. Discovery by 8.1% during the 3rd quarter. Quintet Private Bank Europe S.A. now owns 254,321 shares of the company’s stock worth $2,098,000 after purchasing an additional 19,012 shares during the last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.

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.