NBT Bank N A NY Reduces Stock Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

NBT Bank N A NY lowered its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 51.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,505 shares of the company’s stock after selling 5,816 shares during the quarter. NBT Bank N A NY’s holdings in Warner Bros. Discovery were worth $58,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Stonebridge Financial Group LLC purchased a new stake in Warner Bros. Discovery in the fourth quarter worth approximately $26,000. SRS Capital Advisors Inc. boosted its holdings in Warner Bros. Discovery by 313.4% in the fourth quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company’s stock worth $27,000 after purchasing an additional 1,940 shares during the last quarter. Ethos Financial Group LLC purchased a new stake in Warner Bros. Discovery in the fourth quarter worth approximately $29,000. Sugar Maple Asset Management LLC purchased a new stake in Warner Bros. Discovery in the fourth quarter worth approximately $33,000. Finally, New Wave Wealth Advisors LLC purchased a new stake in Warner Bros. Discovery in the fourth quarter worth approximately $37,000. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Insider Buying and Selling at Warner Bros. Discovery

In other Warner Bros. Discovery news, Director Piazza Samuel A. Jr. Di bought 17,346 shares of Warner Bros. Discovery stock in a transaction dated Monday, March 3rd. The shares were purchased at an average cost of $11.41 per share, for a total transaction of $197,917.86. Following the acquisition, the director now directly owns 159,932 shares in the company, valued at approximately $1,824,824.12. This represents a 12.17 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, insider Savalle Sims sold 169,436 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider now owns 599,317 shares in the company, valued at approximately $7,407,558.12. This trade represents a 22.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by insiders.

Warner Bros. Discovery Stock Performance

Shares of NASDAQ WBD opened at $10.37 on Wednesday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market cap of $25.46 billion, a P/E ratio of -2.26, a P/E/G ratio of 8.64 and a beta of 1.48. The firm’s fifty day moving average is $10.39 and its two-hundred day moving average is $9.43. Warner Bros. Discovery, Inc. has a 52-week low of $6.64 and a 52-week high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.30). The company had revenue of $10.03 billion during the quarter, compared to the consensus estimate of $10.16 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. As a group, analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently weighed in on WBD. KeyCorp lifted their price target on shares of Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 10th. Moffett Nathanson upgraded shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $9.00 to $13.00 in a research note on Tuesday, January 21st. Barclays lifted their price target on shares of Warner Bros. Discovery from $10.00 to $12.00 and gave the stock an “equal weight” rating in a research note on Friday, February 28th. Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a research note on Friday, February 28th. Finally, The Goldman Sachs Group lifted their price target on shares of Warner Bros. Discovery from $9.50 to $10.75 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $11.91.

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.