Duquesne Family Office LLC Buys Shares of 4,657,650 Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Duquesne Family Office LLC purchased a new position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 4,657,650 shares of the company’s stock, valued at approximately $49,231,000. Warner Bros. Discovery accounts for approximately 1.3% of Duquesne Family Office LLC’s investment portfolio, making the stock its 19th largest position.

Other institutional investors also recently modified their holdings of the company. Colonial Trust Advisors lifted its stake in Warner Bros. Discovery by 71.8% in the fourth quarter. Colonial Trust Advisors now owns 2,383 shares of the company’s stock valued at $25,000 after buying an additional 996 shares during the period. Stonebridge Financial Group LLC bought a new stake in shares of Warner Bros. Discovery in the 4th quarter valued at $26,000. SRS Capital Advisors Inc. lifted its position in shares of Warner Bros. Discovery by 313.4% during the 4th quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company’s stock valued at $27,000 after acquiring an additional 1,940 shares during the period. Graney & King LLC bought a new position in Warner Bros. Discovery during the fourth quarter worth $28,000. Finally, Ethos Financial Group LLC acquired a new stake in Warner Bros. Discovery in the fourth quarter worth $29,000. 59.95% of the stock is owned by institutional investors.

Insider Activity at Warner Bros. Discovery

In other Warner Bros. Discovery news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of Warner Bros. Discovery stock in a transaction that occurred on Monday, March 3rd. The stock was acquired at an average cost of $11.41 per share, for a total transaction of $197,917.86. Following the purchase, the director now 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.80% of the stock is currently owned by company insiders.

Warner Bros. Discovery Stock Performance

Shares of WBD stock opened at $8.43 on Wednesday. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $12.70. The firm’s 50-day simple moving average is $9.49 and its two-hundred day simple moving average is $9.81. The firm has a market cap of $20.69 billion, a price-to-earnings ratio of -1.84, a P/E/G ratio of 8.64 and a beta of 1.46. 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) last posted 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 during the quarter, compared to analysts’ expectations of $10.16 billion. As a group, equities analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Analyst Upgrades and Downgrades

WBD has been the topic of a number of research analyst reports. Rosenblatt Securities reissued a “neutral” rating and set a $13.00 price objective on shares of Warner Bros. Discovery in a research report on Friday, March 7th. Benchmark reiterated a “buy” rating and issued a $18.00 price target on shares of Warner Bros. Discovery in a report on Wednesday, February 26th. Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a report on Friday, February 28th. Morgan Stanley lowered their target price on Warner Bros. Discovery from $12.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Finally, Wells Fargo & Company reduced their price target on shares of Warner Bros. Discovery from $11.00 to $9.00 and set an “equal weight” rating for the company in a research report on Thursday, April 17th. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $12.07.

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.