Waldron Private Wealth LLC Reduces Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Waldron Private Wealth LLC lowered its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBDFree Report) by 4.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,102 shares of the company’s stock after selling 1,246 shares during the quarter. Waldron Private Wealth LLC’s holdings in Warner Bros. Discovery were worth $286,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in WBD. Sugar Maple Asset Management LLC acquired a new position in shares of Warner Bros. Discovery during the fourth quarter valued at $33,000. New Wave Wealth Advisors LLC bought a new stake in Warner Bros. Discovery in the fourth quarter worth about $37,000. Future Financial Wealth Managment LLC bought a new stake in Warner Bros. Discovery in the third quarter worth about $41,000. Larson Financial Group LLC lifted its stake in Warner Bros. Discovery by 54.1% during the third quarter. Larson Financial Group LLC now owns 4,998 shares of the company’s stock valued at $41,000 after buying an additional 1,754 shares in the last quarter. Finally, Quarry LP lifted its stake in Warner Bros. Discovery by 2,185.1% during the second quarter. Quarry LP now owns 6,307 shares of the company’s stock valued at $47,000 after buying an additional 6,031 shares in the last quarter. Institutional investors and hedge funds own 59.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on WBD. Bank of America reiterated a “buy” rating and issued a $14.00 target price on shares of Warner Bros. Discovery in a report on Thursday, December 12th. Rosenblatt Securities increased their price target on Warner Bros. Discovery from $9.00 to $13.00 and gave the company a “neutral” rating in a report on Friday, December 13th. Needham & Company LLC reissued a “hold” rating on shares of Warner Bros. Discovery in a research report on Thursday, October 10th. Guggenheim raised their target price on 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, Barclays lifted their price objective on Warner Bros. Discovery from $8.00 to $10.00 and gave the company an “equal weight” rating in a report on Friday, November 8th. Ten equities research 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.76.

Read Our Latest Stock Analysis on Warner Bros. Discovery

Warner Bros. Discovery Stock Performance

Shares of Warner Bros. Discovery stock opened at $10.44 on Monday. The business’s fifty day simple moving average is $10.47 and its 200 day simple moving average is $8.93. The firm has a market capitalization of $25.61 billion, a P/E ratio of -2.28, a price-to-earnings-growth ratio of 6.36 and a beta of 1.50. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70. 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:WBDGet Free Report) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.12. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The business had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.79 billion. During the same period last year, the company posted ($0.17) earnings per share. Warner Bros. Discovery’s quarterly revenue was down 3.6% compared to the same quarter last year. As a group, analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Insider Activity at Warner Bros. Discovery

In related news, insider Savalle Sims sold 169,436 shares of the business’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $12.36, for a total transaction of $2,094,228.96. Following the sale, the insider now directly owns 599,317 shares in the company, valued at approximately $7,407,558.12. The trade was a 22.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.80% of the stock is currently owned by corporate insiders.

About Warner Bros. Discovery

(Free Report)

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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Institutional Ownership by Quarter for Warner Bros. Discovery (NASDAQ:WBD)

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