Warner Bros. Discovery, Inc. $WBD Holdings Decreased by ProShare Advisors LLC

ProShare Advisors LLC reduced its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 16.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,131,958 shares of the company’s stock after selling 634,650 shares during the period. ProShare Advisors LLC owned about 0.13% of Warner Bros. Discovery worth $61,167,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in Warner Bros. Discovery during the second quarter worth about $306,848,000. Pacer Advisors Inc. boosted its stake in Warner Bros. Discovery by 4,639.8% in the third quarter. Pacer Advisors Inc. now owns 22,788,847 shares of the company’s stock valued at $445,066,000 after acquiring an additional 22,308,046 shares during the period. Sound Shore Management Inc CT bought a new position in shares of Warner Bros. Discovery during the second quarter valued at approximately $97,951,000. Maverick Capital Ltd. acquired a new stake in shares of Warner Bros. Discovery during the 2nd quarter worth approximately $77,896,000. Finally, Duquesne Family Office LLC bought a new stake in shares of Warner Bros. Discovery in the 2nd quarter worth approximately $74,916,000. Institutional investors and hedge funds own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Down 0.5%

Warner Bros. Discovery stock opened at $27.21 on Tuesday. Warner Bros. Discovery, Inc. has a 52 week low of $7.52 and a 52 week high of $30.00. The stock has a market cap of $67.43 billion, a price-to-earnings ratio of 143.22 and a beta of 1.64. The company’s 50-day moving average price is $28.12 and its two-hundred day moving average price is $21.23. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.90.

Insider Buying and Selling

In other news, CAO Lori C. Locke sold 5,000 shares of Warner Bros. Discovery stock in a transaction on Monday, December 8th. The stock was sold at an average price of $27.62, for a total transaction of $138,100.00. Following the transaction, the chief accounting officer directly owned 110,084 shares in the company, valued at approximately $3,040,520.08. This trade represents a 4.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Gunnar Wiedenfels sold 242,994 shares of the company’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $29.50, for a total value of $7,168,323.00. Following the completion of the sale, the chief financial officer owned 918,940 shares of the company’s stock, valued at approximately $27,108,730. This trade represents a 20.91% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 267,116 shares of company stock worth $7,781,731 in the last quarter. Company insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

WBD has been the subject of a number of recent research reports. Singular Research upgraded Warner Bros. Discovery to a “moderate buy” rating in a research note on Wednesday, October 22nd. TD Cowen boosted their price target on shares of Warner Bros. Discovery from $14.00 to $22.00 in a report on Friday, November 7th. Morgan Stanley set a $29.00 price target on shares of Warner Bros. Discovery in a research report on Thursday, December 18th. Wells Fargo & Company lifted their price objective on shares of Warner Bros. Discovery from $21.00 to $25.00 and gave the company an “equal weight” rating in a research report on Friday, November 7th. Finally, Arete Research boosted their target price on shares of Warner Bros. Discovery from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Warner Bros. Discovery has an average rating of “Moderate Buy” and a consensus target price of $24.94.

About Warner Bros. Discovery

Warner Bros. Discovery (NASDAQ: WBD) is a global media and entertainment company formed when WarnerMedia and Discovery, Inc combined their businesses in 2022. Headquartered in New York City, the company assembles a broad portfolio of film and television production, linear and cable networks, streaming services and consumer distribution operations. Its assets span well-known studio brands, premium scripted and unscripted programming, news and factual entertainment, and licensed franchise properties.

The company’s core activities include film and television production and distribution through units such as Warner Bros.