ExodusPoint Capital Management LP Increases Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

ExodusPoint Capital Management LP increased its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 169.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm 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 filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in WBD. Golden State Equity Partners increased its holdings in shares of Warner Bros. Discovery by 6.5% in the fourth quarter. Golden State Equity Partners now owns 16,124 shares of the company’s stock worth $170,000 after buying an additional 986 shares during the period. Deseret Mutual Benefit Administrators grew its position in Warner Bros. Discovery by 12.0% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 9,925 shares of the company’s stock worth $105,000 after acquiring an additional 1,066 shares during the last quarter. Cornerstone Wealth Management LLC increased its stake in Warner Bros. Discovery by 7.4% in the 4th quarter. Cornerstone Wealth Management LLC now owns 15,995 shares of the company’s stock worth $169,000 after purchasing an additional 1,101 shares during the period. Personal CFO Solutions LLC lifted its position in Warner Bros. Discovery by 2.8% in the fourth quarter. Personal CFO Solutions LLC now owns 42,935 shares of the company’s stock valued at $454,000 after purchasing an additional 1,174 shares during the last quarter. Finally, Avestar Capital LLC boosted its stake in shares of Warner Bros. Discovery by 9.4% during the fourth quarter. Avestar Capital LLC now owns 14,337 shares of the company’s stock valued at $152,000 after purchasing an additional 1,228 shares during the period. 59.95% of the stock is owned by institutional investors.

Insider Activity

In other Warner Bros. Discovery news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of the stock in a transaction dated Monday, March 3rd. The shares were purchased at an average price of $11.41 per share, for a total transaction of $197,917.86. Following the purchase, the director now directly 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 ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Raymond James decreased their target price on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an “outperform” rating on the stock in a research note on Friday. Barrington Research restated an “outperform” rating and issued a $16.00 price objective on shares of Warner Bros. Discovery in a research report on Wednesday, March 5th. Benchmark reaffirmed a “buy” rating and set a $18.00 price objective on shares of Warner Bros. Discovery in a research note on Wednesday, February 26th. Guggenheim boosted their price target on Warner Bros. Discovery from $11.00 to $12.50 and gave the company a “buy” rating in a report on Thursday, December 12th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a research report on Friday, February 28th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Warner Bros. Discovery currently has an average rating of “Moderate Buy” and an average price target of $11.96.

Warner Bros. Discovery Price Performance

Shares of NASDAQ:WBD opened at $8.07 on Friday. 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 firm has a market cap of $19.81 billion, a price-to-earnings ratio of -1.76, a price-to-earnings-growth ratio of 8.64 and a beta of 1.48. The business has a 50-day simple moving average of $10.50 and a two-hundred day simple moving average of $9.76. 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 released its quarterly earnings data 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 company had revenue of $10.03 billion for the quarter, compared to analysts’ expectations of $10.16 billion. On average, analysts expect that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

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.