CenterBook Partners LP Makes New $4.54 Million Investment in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

CenterBook Partners LP purchased a new stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 429,254 shares of the company’s stock, valued at approximately $4,537,000.

Several other institutional investors and hedge funds also recently made changes to their positions in WBD. Stonebridge Financial Group LLC bought a new stake in Warner Bros. Discovery in the 4th quarter worth about $26,000. SRS Capital Advisors Inc. boosted its holdings 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 last quarter. Graney & King LLC bought a new stake in shares of Warner Bros. Discovery in the fourth quarter worth approximately $28,000. Ethos Financial Group LLC purchased a new position in shares of Warner Bros. Discovery during the fourth quarter valued at approximately $29,000. Finally, Briaud Financial Planning Inc lifted its position in Warner Bros. Discovery by 258.1% during the fourth quarter. Briaud Financial Planning Inc now owns 2,775 shares of the company’s stock valued at $29,000 after purchasing an additional 2,000 shares during the period. Institutional investors own 59.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on WBD shares. Guggenheim raised their price target on Warner Bros. Discovery from $11.00 to $12.50 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Barclays cut their price target on Warner Bros. Discovery from $12.00 to $7.00 and set an “equal weight” rating for the company in a research note on Tuesday. Raymond James lowered their price objective 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, April 4th. JPMorgan Chase & Co. raised their price objective on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Tuesday, January 14th. Finally, Bank of America reaffirmed a “buy” rating and set a $14.00 target price on shares of Warner Bros. Discovery in a report on Thursday, December 12th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $11.71.

Warner Bros. Discovery Stock Up 20.4 %

Shares of WBD opened at $9.26 on Thursday. Warner Bros. Discovery, Inc. has a 52-week low of $6.64 and a 52-week high of $12.70. The company has a market cap of $22.73 billion, a PE ratio of -2.02, a P/E/G ratio of 8.64 and a beta of 1.43. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. The business has a fifty day moving average of $10.29 and a 200 day moving average of $9.76.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.30). Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The firm had revenue of $10.03 billion during the quarter, compared to analysts’ expectations of $10.16 billion. On average, sell-side analysts expect that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Insider Transactions at Warner Bros. Discovery

In related news, Director Piazza Samuel A. Jr. Di purchased 17,346 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were purchased at an average cost of $11.41 per share, for a total transaction of $197,917.86. Following the completion of the acquisition, the director now owns 159,932 shares in the company, valued at approximately $1,824,824.12. This trade represents a 12.17 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.80% of the company’s stock.

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.