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

Corebridge Financial Inc. increased its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 4.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Hauser Brothers GmbH boosted its holdings in shares of Warner Bros. Discovery by 56.1% during the 3rd quarter. Hauser Brothers GmbH now owns 1,225,000 shares of the company’s stock valued at $10,106,000 after buying an additional 440,000 shares in the last quarter. Principal Financial Group Inc. boosted its holdings 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 valued at $21,281,000 after acquiring an additional 78,653 shares during the last quarter. Erste Asset Management GmbH bought a new stake in Warner Bros. Discovery in the 3rd quarter worth approximately $1,474,000. Blueshift Asset Management LLC bought a new stake in shares of Warner Bros. Discovery in the third quarter worth $588,000. Finally, Coronation Fund Managers Ltd. grew its stake in shares of Warner Bros. Discovery by 54.1% during the 4th quarter. Coronation Fund Managers Ltd. now owns 5,644,290 shares of the company’s stock valued at $59,660,000 after purchasing an additional 1,981,050 shares during the period. 59.95% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Warner Bros. Discovery news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was acquired at an average cost of $11.41 per share, for a total transaction of $197,917.86. Following the purchase, the director now owns 159,932 shares in the company, valued at approximately $1,824,824.12. The trade was a 12.17 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.80% of the company’s stock.

Warner Bros. Discovery Price Performance

WBD opened at $11.01 on Friday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a market capitalization of $27.03 billion, a PE ratio of -2.40, a price-to-earnings-growth ratio of 8.64 and a beta of 1.48. The business’s 50-day moving average is $10.50 and its two-hundred day moving average is $9.66. Warner Bros. Discovery, Inc. has a 1 year low of $6.64 and a 1 year high of $12.70.

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

Analysts Set New Price Targets

WBD has been the subject of several analyst reports. KeyCorp upped their price objective on Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 10th. Needham & Company LLC reissued a “hold” rating on shares of Warner Bros. Discovery in a report on Friday, February 28th. The Goldman Sachs Group increased their price target on Warner Bros. Discovery from $9.50 to $10.75 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Moffett Nathanson raised shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $9.00 to $13.00 in a research note on Tuesday, January 21st. Finally, JPMorgan Chase & Co. lifted their target price on Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Tuesday, January 14th. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $11.91.

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.