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

Corebridge Financial Inc. grew its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 4.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 828,015 shares of the company’s stock after purchasing an additional 36,721 shares during the period. Corebridge Financial Inc.’s holdings in Warner Bros. Discovery were worth $8,752,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of WBD. Stonebridge Financial Group LLC purchased a new stake in shares of Warner Bros. Discovery in the fourth quarter valued at about $26,000. SRS Capital Advisors Inc. increased its stake in Warner Bros. Discovery by 313.4% in the 4th quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company’s stock valued at $27,000 after buying an additional 1,940 shares during the last quarter. Ethos Financial Group LLC bought a new position in shares of Warner Bros. Discovery during the 4th quarter worth approximately $29,000. Briaud Financial Planning Inc lifted its position in shares of Warner Bros. Discovery by 258.1% during the 4th quarter. Briaud Financial Planning Inc now owns 2,775 shares of the company’s stock worth $29,000 after buying an additional 2,000 shares in the last quarter. Finally, Sugar Maple Asset Management LLC purchased a new position in shares of Warner Bros. Discovery in the 4th quarter worth approximately $33,000. 59.95% of the stock is owned by hedge funds and other institutional investors.

Warner Bros. Discovery Price Performance

Shares of NASDAQ:WBD opened at $11.01 on Friday. The stock has a market cap of $27.03 billion, a P/E ratio of -2.40, a P/E/G ratio of 8.64 and a beta of 1.48. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70. The company has a 50 day moving average of $10.50 and a 200 day moving average of $9.66. 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) 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). 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 during the quarter, compared to analysts’ expectations of $10.16 billion. As a group, sell-side analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of Warner Bros. Discovery stock in a transaction dated Monday, March 3rd. The shares were purchased at an average cost of $11.41 per share, with a total value of $197,917.86. Following the completion of the purchase, the director now owns 159,932 shares of the company’s stock, valued at $1,824,824.12. This represents a 12.17 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. JPMorgan Chase & Co. lifted their price target on Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Tuesday, January 14th. Barclays lifted their target price on Warner Bros. Discovery from $10.00 to $12.00 and gave the stock an “equal weight” rating in a research note on Friday, February 28th. Moffett Nathanson upgraded shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and increased their price target for the company from $9.00 to $13.00 in a research report on Tuesday, January 21st. Guggenheim lifted their price objective on shares of 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, KeyCorp boosted their target price on shares of Warner Bros. Discovery from $11.00 to $14.00 and gave the company an “overweight” rating in a research note on Tuesday, December 10th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $11.91.

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.