Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Bought by Prudential PLC

Prudential PLC raised its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 31.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 135,163 shares of the company's stock after buying an additional 32,102 shares during the period. Prudential PLC's holdings in Warner Bros. Discovery were worth $1,429,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Townsquare Capital LLC boosted its holdings in Warner Bros. Discovery by 47.9% in the third quarter. Townsquare Capital LLC now owns 27,134 shares of the company's stock valued at $224,000 after acquiring an additional 8,784 shares in the last quarter. Public Sector Pension Investment Board boosted its position in Warner Bros. Discovery by 14.0% during the 3rd quarter. Public Sector Pension Investment Board now owns 84,525 shares of the company's stock valued at $697,000 after acquiring an additional 10,400 shares in the last quarter. Janus Henderson Group PLC boosted its position in Warner Bros. Discovery by 26.5% during the 3rd quarter. Janus Henderson Group PLC now owns 316,460 shares of the company's stock valued at $2,609,000 after acquiring an additional 66,200 shares in the last quarter. IHT Wealth Management LLC grew its holdings in shares of Warner Bros. Discovery by 15.0% during the 3rd quarter. IHT Wealth Management LLC now owns 32,331 shares of the company's stock worth $266,000 after acquiring an additional 4,226 shares during the period. Finally, Royal London Asset Management Ltd. lifted its stake in shares of Warner Bros. Discovery by 4.5% in the 3rd quarter. Royal London Asset Management Ltd. now owns 949,692 shares of the company's stock valued at $7,835,000 after purchasing an additional 40,890 shares during the period. Hedge funds and other institutional investors own 59.95% of the company's stock.

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Insider Buying and Selling

In related news, Director Piazza Samuel A. Jr. Di bought 17,346 shares of the company's stock in a transaction on Monday, March 3rd. The shares were acquired at an average cost of $11.41 per share, for a total transaction of $197,917.86. Following the purchase, the director now directly owns 159,932 shares of the company's stock, valued at approximately $1,824,824.12. The trade was a 12.17 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

WBD has been the subject of several recent research reports. Raymond James lowered their price objective on Warner Bros. Discovery from $14.00 to $13.00 and set an "outperform" rating for the company in a research report on Friday, April 4th. Bank of America reissued a "buy" rating and set a $14.00 price objective on shares of Warner Bros. Discovery in a research note on Thursday, December 12th. Moffett Nathanson raised shares of Warner Bros. Discovery from a "neutral" rating to a "buy" rating and raised their target price for the company from $9.00 to $13.00 in a research note on Tuesday, January 21st. Guggenheim boosted their price target on Warner Bros. Discovery from $11.00 to $12.50 and gave the stock a "buy" rating in a research report on Thursday, December 12th. Finally, JPMorgan Chase & Co. raised their price target on Warner Bros. Discovery from $9.00 to $10.00 and gave the company a "neutral" rating in a report on Tuesday, January 14th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, Warner Bros. Discovery has a consensus rating of "Moderate Buy" and a consensus price target of $11.71.

Warner Bros. Discovery Price Performance

Shares of Warner Bros. Discovery stock traded down $0.37 during trading hours on Friday, reaching $7.74. The company's stock had a trading volume of 11,551,349 shares, compared to its average volume of 32,341,691. The stock has a market cap of $18.99 billion, a P/E ratio of -1.68, a P/E/G ratio of 8.64 and a beta of 1.43. Warner Bros. Discovery, Inc. has a one year low of $6.64 and a one year high of $12.70. The firm has a 50 day moving average price of $10.25 and a 200-day moving average price of $9.76. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80.

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 net margin of 28.34% and a negative return on equity of 27.56%. The company had revenue of $10.03 billion for the quarter, compared to analysts' expectations of $10.16 billion. On average, analysts predict that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

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.