Equitable Trust Co. Cuts Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Equitable Trust Co. trimmed its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 19.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,982 shares of the company’s stock after selling 8,428 shares during the period. Equitable Trust Co.’s holdings in Warner Bros. Discovery were worth $370,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Sugar Maple Asset Management LLC purchased a new position in Warner Bros. Discovery in the fourth quarter worth $33,000. New Wave Wealth Advisors LLC acquired a new stake in shares of Warner Bros. Discovery in the 4th quarter worth $37,000. Larson Financial Group LLC grew its stake in Warner Bros. Discovery by 54.1% during the 3rd quarter. Larson Financial Group LLC now owns 4,998 shares of the company’s stock worth $41,000 after buying an additional 1,754 shares during the last quarter. Rosenberg Matthew Hamilton grew its stake in Warner Bros. Discovery by 448.3% during the 4th quarter. Rosenberg Matthew Hamilton now owns 4,578 shares of the company’s stock worth $48,000 after buying an additional 3,743 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new position in Warner Bros. Discovery during the 3rd quarter valued at about $51,000. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Warner Bros. Discovery Stock Performance

WBD opened at $9.85 on Wednesday. The firm has a fifty day moving average price of $10.43 and a 200 day moving average price of $9.01. Warner Bros. Discovery, Inc. has a 1 year low of $6.64 and a 1 year high of $12.70. The stock has a market cap of $24.16 billion, a P/E ratio of -2.15, a P/E/G ratio of 7.98 and a beta of 1.49. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80.

Analysts Set New Price Targets

Several equities research analysts have weighed in on WBD shares. Barrington Research reissued an “outperform” rating and issued a $16.00 price target on shares of Warner Bros. Discovery in a report on Friday, December 13th. JPMorgan Chase & Co. boosted their target price on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 14th. Macquarie upped their price target on shares of Warner Bros. Discovery from $8.00 to $9.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. 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 note on Thursday, December 12th. Finally, The Goldman Sachs Group boosted their price objective on shares of Warner Bros. Discovery from $9.50 to $10.75 and gave the company a “neutral” rating in a report on Thursday, December 19th. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $11.76.

Insider Buying and Selling at Warner Bros. Discovery

In other news, insider Savalle Sims sold 169,436 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 599,317 shares in the company, valued at $7,407,558.12. This trade represents a 22.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.80% of the stock is owned by corporate insiders.

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.