AQR Capital Management LLC Has $8.20 Million Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

AQR Capital Management LLC trimmed its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 31.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 775,725 shares of the company's stock after selling 354,766 shares during the period. AQR Capital Management LLC's holdings in Warner Bros. Discovery were worth $8,199,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of WBD. Vanguard Group Inc. boosted its position in shares of Warner Bros. Discovery by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 252,650,791 shares of the company's stock worth $2,670,519,000 after purchasing an additional 1,658,415 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Warner Bros. Discovery by 3.6% during the fourth quarter. Geode Capital Management LLC now owns 57,441,931 shares of the company's stock worth $605,633,000 after acquiring an additional 1,991,441 shares in the last quarter. Norges Bank acquired a new position in Warner Bros. Discovery in the fourth quarter valued at about $362,210,000. Slate Path Capital LP increased its holdings in shares of Warner Bros. Discovery by 36.6% in the fourth quarter. Slate Path Capital LP now owns 23,801,000 shares of the company's stock worth $251,577,000 after acquiring an additional 6,381,000 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of Warner Bros. Discovery by 7.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 23,608,829 shares of the company's stock worth $249,545,000 after purchasing an additional 1,725,775 shares during the period. Institutional investors own 59.95% of the company's stock.

Wall Street Analyst Weigh In

WBD has been the subject of a number of research reports. Moffett Nathanson raised Warner Bros. Discovery from a "neutral" rating to a "buy" rating and increased their target price for the stock from $9.00 to $13.00 in a research note on Tuesday, January 21st. Rosenblatt Securities restated a "neutral" rating and set a $13.00 price objective on shares of Warner Bros. Discovery in a report on Friday, March 7th. Benchmark reaffirmed a "buy" rating and issued a $18.00 target price on shares of Warner Bros. Discovery in a research note on Wednesday, February 26th. Wells Fargo & Company dropped their price target on Warner Bros. Discovery from $11.00 to $9.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 17th. Finally, JPMorgan Chase & Co. upped their price objective on Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 14th. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Warner Bros. Discovery currently has an average rating of "Moderate Buy" and an average target price of $12.07.

Insider Transactions at Warner Bros. Discovery

In other Warner Bros. Discovery news, Director Piazza Samuel A. Jr. Di bought 17,346 shares of the stock in a transaction dated Monday, March 3rd. The shares were bought at an average cost of $11.41 per share, with a total value of $197,917.86. Following the completion of the acquisition, the director now owns 159,932 shares of the company's stock, valued at $1,824,824.12. This trade represents a 12.17 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.80% of the company's stock.

Warner Bros. Discovery Stock Performance

Shares of WBD stock opened at $8.43 on Wednesday. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $12.70. The company has a market capitalization of $20.69 billion, a price-to-earnings ratio of -1.84, a PEG ratio of 8.64 and a beta of 1.46. The company has a 50-day simple moving average of $9.49 and a 200 day simple moving average of $9.81. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last posted its earnings results on Thursday, February 27th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of $0.10 by ($0.30). The firm had revenue of $10.03 billion during 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%. On average, sell-side analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share 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.

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