Corebridge Financial Inc. Buys 36,721 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Corebridge Financial Inc. raised its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 4.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 828,015 shares of the company's stock after acquiring an additional 36,721 shares during the quarter. Corebridge Financial Inc.'s holdings in Warner Bros. Discovery were worth $8,752,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in WBD. Hauser Brothers GmbH raised its holdings in shares of Warner Bros. Discovery by 56.1% during the third quarter. Hauser Brothers GmbH now owns 1,225,000 shares of the company's stock worth $10,106,000 after acquiring an additional 440,000 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Warner Bros. Discovery by 3.1% during the 3rd quarter. Principal Financial Group Inc. now owns 2,579,571 shares of the company's stock worth $21,281,000 after purchasing an additional 78,653 shares in the last quarter. Erste Asset Management GmbH acquired a new stake in shares of Warner Bros. Discovery during the 3rd quarter valued at about $1,474,000. Blueshift Asset Management LLC bought a new stake in shares of Warner Bros. Discovery in the 3rd quarter valued at approximately $588,000. Finally, Coronation Fund Managers Ltd. increased its holdings in Warner Bros. Discovery by 54.1% in the fourth quarter. Coronation Fund Managers Ltd. now owns 5,644,290 shares of the company's stock worth $59,660,000 after buying an additional 1,981,050 shares during the last quarter. Institutional investors and hedge funds own 59.95% of the company's stock.

Remove Ads

Insider Activity at Warner Bros. Discovery

In related news, Director Piazza Samuel A. Jr. Di bought 17,346 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were acquired at an average price of $11.41 per share, with a total value of $197,917.86. Following the completion of the transaction, the director now owns 159,932 shares in the company, valued at $1,824,824.12. The trade was a 12.17 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on WBD shares. KeyCorp boosted their target price on shares of Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 10th. The Goldman Sachs Group raised their target price on Warner Bros. Discovery from $9.50 to $10.75 and gave the company a "neutral" rating in a report on Thursday, December 19th. Bank of America reiterated a "buy" rating and set a $14.00 price target on shares of Warner Bros. Discovery in a research note on Thursday, December 12th. Moffett Nathanson raised Warner Bros. Discovery from a "neutral" rating to a "buy" rating and upped their target price for the stock from $9.00 to $13.00 in a research report on Tuesday, January 21st. Finally, Benchmark restated a "buy" rating and issued a $18.00 price objective on shares of Warner Bros. Discovery in a research note on Wednesday, February 26th. Ten investment 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 currently has an average rating of "Moderate Buy" and a consensus target price of $11.91.

Warner Bros. Discovery Stock Up 3.7 %

Shares of NASDAQ WBD traded up $0.39 during mid-day trading on Monday, reaching $10.76. 25,394,733 shares of the company's stock were exchanged, compared to its average volume of 31,439,852. The business has a fifty day simple moving average of $10.52 and a 200 day simple moving average of $9.72. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $12.70. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $26.40 billion, a price-to-earnings ratio of -2.35, a PEG ratio of 8.64 and a beta of 1.48.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced its earnings results 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). The company had revenue of $10.03 billion during the quarter, compared to analyst estimates 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 expect that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal 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.