Pinebridge Investments L.P. Grows Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Pinebridge Investments L.P. increased its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 3,195.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 703,902 shares of the company's stock after acquiring an additional 682,539 shares during the period. Pinebridge Investments L.P.'s holdings in Warner Bros. Discovery were worth $7,440,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Warner Bros. Discovery by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 252,650,791 shares of the company's stock valued at $2,670,519,000 after acquiring an additional 1,658,415 shares during the period. Geode Capital Management LLC grew its stake in Warner Bros. Discovery by 3.6% in the fourth quarter. Geode Capital Management LLC now owns 57,441,931 shares of the company's stock valued at $605,633,000 after purchasing an additional 1,991,441 shares during the last quarter. Norges Bank purchased a new stake in shares of Warner Bros. Discovery during the fourth quarter valued at about $362,210,000. Slate Path Capital LP boosted its holdings in shares of Warner Bros. Discovery by 36.6% in the 4th quarter. Slate Path Capital LP now owns 23,801,000 shares of the company's stock valued at $251,577,000 after buying an additional 6,381,000 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Warner Bros. Discovery by 5.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 16,547,162 shares of the company's stock worth $174,904,000 after buying an additional 861,656 shares during the last quarter. Hedge funds and other institutional investors own 59.95% of the company's stock.

Insiders Place Their Bets

In related news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were acquired 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 directly owns 159,932 shares in the company, valued at approximately $1,824,824.12. This trade represents a 12.17 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.80% of the stock is currently owned by company insiders.

Warner Bros. Discovery Stock Performance

Shares of NASDAQ WBD traded down $0.23 during midday trading on Wednesday, reaching $8.54. 12,928,084 shares of the stock were exchanged, compared to its average volume of 32,971,521. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. The firm has a 50-day simple moving average of $9.72 and a two-hundred day simple moving average of $9.79. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $12.70. The firm has a market cap of $20.96 billion, a price-to-earnings ratio of -1.86, a PEG ratio of 8.64 and a beta of 1.43.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $10.03 billion during the quarter, compared to analysts' expectations of $10.16 billion. As a group, analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on WBD shares. Raymond James lowered their target price on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an "outperform" rating for the company in a research note on Friday, April 4th. Benchmark restated a "buy" rating and set a $18.00 target price on shares of Warner Bros. Discovery in a research note on Wednesday, February 26th. Citigroup increased their price target on Warner Bros. Discovery from $13.00 to $15.00 and gave the company a "buy" rating in a research note on Wednesday, March 5th. JPMorgan Chase & Co. boosted their price target on Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 14th. Finally, Rosenblatt Securities reissued a "neutral" rating and set a $13.00 target price on shares of Warner Bros. Discovery in a research report on Friday, March 7th. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $12.01.

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.