Warner Bros. Discovery, Inc. $WBD Shares Purchased by Prudential Financial Inc.

Prudential Financial Inc. boosted its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 5.9% during the 2nd quarter, HoldingsChannel reports. The firm owned 1,359,552 shares of the company’s stock after purchasing an additional 76,032 shares during the period. Prudential Financial Inc.’s holdings in Warner Bros. Discovery were worth $15,579,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in WBD. Charles Schwab Investment Management Inc. grew its holdings in shares of Warner Bros. Discovery by 7.4% during the second quarter. Charles Schwab Investment Management Inc. now owns 19,463,234 shares of the company’s stock worth $223,049,000 after buying an additional 1,333,005 shares during the last quarter. Soundwatch Capital LLC purchased a new stake in Warner Bros. Discovery during the 2nd quarter valued at approximately $452,000. Rhumbline Advisers lifted its position in Warner Bros. Discovery by 21.1% during the 2nd quarter. Rhumbline Advisers now owns 5,700,829 shares of the company’s stock worth $65,331,000 after acquiring an additional 993,536 shares during the period. AlphaCore Capital LLC purchased a new position in shares of Warner Bros. Discovery in the 2nd quarter valued at approximately $482,000. Finally, Mufg Securities Americas Inc. increased its holdings in shares of Warner Bros. Discovery by 26.3% in the second quarter. Mufg Securities Americas Inc. now owns 49,898 shares of the company’s stock valued at $572,000 after purchasing an additional 10,381 shares during the period. 59.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on WBD shares. Sanford C. Bernstein increased their price target on Warner Bros. Discovery from $16.00 to $23.50 in a report on Friday, November 7th. UBS Group raised their target price on shares of Warner Bros. Discovery from $10.00 to $20.00 and gave the stock a “neutral” rating in a research note on Monday, October 6th. Rothschild & Co Redburn raised shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and set a $28.00 target price on the stock in a report on Thursday, October 30th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Warner Bros. Discovery from $23.00 to $26.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. Finally, Argus set a $27.00 price objective on shares of Warner Bros. Discovery in a research report on Tuesday, October 28th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $21.92.

Insider Buying and Selling

In other Warner Bros. Discovery news, CFO Gunnar Wiedenfels sold 530,793 shares of the firm’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $19.50, for a total transaction of $10,350,463.50. Following the completion of the transaction, the chief financial officer owned 1,141,150 shares of the company’s stock, valued at approximately $22,252,425. This trade represents a 31.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Bruce Campbell sold 289,322 shares of the business’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $16.48, for a total value of $4,768,026.56. Following the completion of the transaction, the insider directly owned 402,464 shares of the company’s stock, valued at approximately $6,632,606.72. This trade represents a 41.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 1,192,325 shares of company stock valued at $22,818,215. Corporate insiders own 1.80% of the company’s stock.

Warner Bros. Discovery Stock Up 4.0%

WBD opened at $23.88 on Thursday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market cap of $59.17 billion, a price-to-earnings ratio of 79.60, a PEG ratio of 2.56 and a beta of 1.74. Warner Bros. Discovery, Inc. has a one year low of $7.52 and a one year high of $24.19. The business’s fifty day moving average is $20.68 and its two-hundred day moving average is $14.77.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.02). Warner Bros. Discovery had a return on equity of 2.14% and a net margin of 2.00%.The firm had revenue of $9.05 billion for the quarter, compared to analyst estimates of $9.17 billion. During the same period last year, the firm earned $0.05 EPS. The company’s quarterly revenue was down 6.0% compared to the same quarter last year. Analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal 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.