Pinebridge Investments L.P. Purchases 682,539 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Pinebridge Investments L.P. increased its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 3,195.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 703,902 shares of the company's stock after purchasing an additional 682,539 shares during the quarter. Pinebridge Investments L.P.'s holdings in Warner Bros. Discovery were worth $7,440,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of WBD. Golden State Equity Partners lifted its stake in Warner Bros. Discovery by 6.5% in the 4th quarter. Golden State Equity Partners now owns 16,124 shares of the company's stock valued at $170,000 after acquiring an additional 986 shares in the last quarter. Colonial Trust Advisors lifted its position in shares of Warner Bros. Discovery by 71.8% in the fourth quarter. Colonial Trust Advisors now owns 2,383 shares of the company's stock worth $25,000 after purchasing an additional 996 shares in the last quarter. Deseret Mutual Benefit Administrators boosted its holdings in Warner Bros. Discovery by 12.0% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 9,925 shares of the company's stock worth $105,000 after purchasing an additional 1,066 shares during the last quarter. Cornerstone Wealth Management LLC grew its position in Warner Bros. Discovery by 7.4% in the fourth quarter. Cornerstone Wealth Management LLC now owns 15,995 shares of the company's stock valued at $169,000 after purchasing an additional 1,101 shares in the last quarter. Finally, Personal CFO Solutions LLC increased its stake in Warner Bros. Discovery by 2.8% in the 4th quarter. Personal CFO Solutions LLC now owns 42,935 shares of the company's stock valued at $454,000 after buying an additional 1,174 shares during the last quarter. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. increased 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. Raymond James decreased their price target on Warner Bros. Discovery from $14.00 to $13.00 and set an "outperform" rating for the company in a research note on Friday, April 4th. Citigroup boosted their price target on Warner Bros. Discovery from $13.00 to $15.00 and gave the stock a "buy" rating in a research report on Wednesday, March 5th. Needham & Company LLC reissued a "hold" rating on shares of Warner Bros. Discovery in a research note on Friday, February 28th. Finally, Wells Fargo & Company lowered their target price on shares of Warner Bros. Discovery from $11.00 to $9.00 and set an "equal weight" rating on the stock in a 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 company. Based on data from MarketBeat.com, Warner Bros. Discovery has an average rating of "Moderate Buy" and a consensus price target of $12.01.

Insider Transactions at Warner Bros. Discovery

In other Warner Bros. Discovery news, Director Piazza Samuel A. Jr. Di bought 17,346 shares of the stock in a transaction dated Monday, March 3rd. The shares were bought at an average cost of $11.41 per share, with a total value of $197,917.86. Following the completion of the acquisition, the director now owns 159,932 shares of the company's stock, valued at $1,824,824.12. This trade represents a 12.17 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.80% of the company's stock.

Warner Bros. Discovery Stock Performance

WBD stock traded up $0.09 during mid-day trading on Friday, hitting $8.59. 24,510,405 shares of the company were exchanged, compared to its average volume of 32,999,193. Warner Bros. Discovery, Inc. has a 1-year low of $6.64 and a 1-year high of $12.70. The stock has a market capitalization of $21.09 billion, a PE ratio of -1.88, a price-to-earnings-growth ratio of 8.64 and a beta of 1.43. The business has a 50 day simple moving average of $9.81 and a 200-day simple moving average of $9.78. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last released its quarterly earnings results 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 return on equity of 27.56% and a negative net margin of 28.34%. The firm had revenue of $10.03 billion for the quarter, compared to analyst estimates of $10.16 billion. On average, equities analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current 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.