Prudential Financial Inc. Has $34.86 Million Stock Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Prudential Financial Inc. boosted its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 30.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 3,297,747 shares of the company's stock after acquiring an additional 766,504 shares during the period. Prudential Financial Inc. owned 0.13% of Warner Bros. Discovery worth $34,857,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Golden State Equity Partners grew its holdings in Warner Bros. Discovery by 6.5% during the fourth quarter. Golden State Equity Partners now owns 16,124 shares of the company's stock valued at $170,000 after purchasing an additional 986 shares during the period. Deseret Mutual Benefit Administrators grew its holdings in shares of Warner Bros. Discovery by 12.0% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 9,925 shares of the company's stock valued at $105,000 after buying an additional 1,066 shares during the period. Cornerstone Wealth Management LLC increased its position in shares of Warner Bros. Discovery by 7.4% in the 4th quarter. Cornerstone Wealth Management LLC now owns 15,995 shares of the company's stock valued at $169,000 after buying an additional 1,101 shares in the last quarter. Personal CFO Solutions LLC lifted its holdings in Warner Bros. Discovery by 2.8% during the fourth quarter. Personal CFO Solutions LLC now owns 42,935 shares of the company's stock worth $454,000 after acquiring an additional 1,174 shares in the last quarter. Finally, Avestar Capital LLC grew its stake in Warner Bros. Discovery by 9.4% in the fourth quarter. Avestar Capital LLC now owns 14,337 shares of the company's stock valued at $152,000 after acquiring an additional 1,228 shares during the period. Institutional investors own 59.95% of the company's stock.

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Warner Bros. Discovery Stock Performance

NASDAQ:WBD traded down $0.64 on Friday, hitting $10.37. The company's stock had a trading volume of 52,595,970 shares, compared to its average volume of 31,457,814. Warner Bros. Discovery, Inc. has a one year low of $6.64 and a one year high of $12.70. The firm has a market capitalization of $25.46 billion, a P/E ratio of -2.26, a price-to-earnings-growth ratio of 8.64 and a beta of 1.48. The stock has a fifty day moving average of $10.52 and a two-hundred day moving average of $9.70. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last posted its quarterly 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). Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The business had revenue of $10.03 billion during the quarter, compared to the consensus estimate of $10.16 billion. Research analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Piazza Samuel A. Jr. Di purchased 17,346 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was acquired at an average cost of $11.41 per share, with a total value of $197,917.86. Following 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 acquisition 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.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Warner Bros. Discovery from $9.00 to $10.00 and gave the company a "neutral" rating in a report on Tuesday, January 14th. The Goldman Sachs Group upped their price target on shares of Warner Bros. Discovery from $9.50 to $10.75 and gave the company a "neutral" rating in a report on Thursday, December 19th. Benchmark restated a "buy" rating and set a $18.00 price objective on shares of Warner Bros. Discovery in a report on Wednesday, February 26th. Citigroup upped their target price on shares of Warner Bros. Discovery from $13.00 to $15.00 and gave the stock a "buy" rating in a research note on Wednesday, March 5th. Finally, Bank of America reissued a "buy" rating and issued a $14.00 price target on shares of Warner Bros. Discovery in a research note on Thursday, December 12th. 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.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $11.91.

About Warner Bros. Discovery

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.