Prudential Financial Inc. Purchases 766,504 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Prudential Financial Inc. grew its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 30.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 3,297,747 shares of the company’s stock after buying an additional 766,504 shares during the period. Prudential Financial Inc.’s holdings in Warner Bros. Discovery were worth $34,857,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Pathstone Holdings LLC increased its stake in Warner Bros. Discovery by 11.6% in the third quarter. Pathstone Holdings LLC now owns 171,331 shares of the company’s stock worth $1,413,000 after purchasing an additional 17,869 shares during the period. Caprock Group LLC bought a new stake in Warner Bros. Discovery during the 3rd quarter valued at about $99,000. Commerce Bank grew its stake in Warner Bros. Discovery by 2.4% in the 3rd quarter. Commerce Bank now owns 55,963 shares of the company’s stock worth $462,000 after acquiring an additional 1,286 shares in the last quarter. Intech Investment Management LLC grew its stake in Warner Bros. Discovery by 40.3% in the 3rd quarter. Intech Investment Management LLC now owns 118,531 shares of the company’s stock worth $978,000 after acquiring an additional 34,050 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Warner Bros. Discovery by 4.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 15,685,506 shares of the company’s stock valued at $129,405,000 after acquiring an additional 687,612 shares in the last quarter. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Rosenblatt Securities restated a “neutral” rating and set a $13.00 price objective on shares of Warner Bros. Discovery in a report on Friday, March 7th. KeyCorp raised their price target on Warner Bros. Discovery from $11.00 to $14.00 and gave the company an “overweight” rating in a research note on Tuesday, December 10th. JPMorgan Chase & Co. upped their price objective on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 14th. Barrington Research reissued an “outperform” rating and set a $16.00 target price on shares of Warner Bros. Discovery in a research report on Wednesday, March 5th. Finally, Barclays upped their price target on shares of Warner Bros. Discovery from $10.00 to $12.00 and gave the stock an “equal weight” rating in a research report on Friday, February 28th. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, Warner Bros. Discovery presently has an average rating of “Moderate Buy” and a consensus target price of $11.91.

Insiders Place Their Bets

In other Warner Bros. Discovery news, Director Piazza Samuel A. Jr. Di purchased 17,346 shares of Warner Bros. Discovery stock in a transaction on Monday, March 3rd. The stock was bought at an average cost 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 $1,824,824.12. This represents a 12.17 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.80% of the stock is currently owned by insiders.

Warner Bros. Discovery Stock Performance

WBD opened at $10.98 on Wednesday. The company has a market cap of $26.95 billion, a P/E ratio of -2.40, a price-to-earnings-growth ratio of 8.64 and a beta of 1.48. 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 firm’s 50-day moving average price is $10.45 and its 200-day moving average price is $9.65. Warner Bros. Discovery, Inc. has a 52-week low of $6.64 and a 52-week high of $12.70.

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

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.