Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by Private Management Group Inc.

Private Management Group Inc. cut its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 18.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,640,650 shares of the company’s stock after selling 1,245,493 shares during the period. Warner Bros. Discovery accounts for 2.2% of Private Management Group Inc.’s portfolio, making the stock its 3rd largest position. Private Management Group Inc. owned approximately 0.23% of Warner Bros. Discovery worth $59,622,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Sugar Maple Asset Management LLC acquired a new stake in shares of Warner Bros. Discovery in the 4th quarter valued at about $33,000. New Wave Wealth Advisors LLC bought a new stake in Warner Bros. Discovery in the fourth quarter valued at about $37,000. Rosenberg Matthew Hamilton raised its stake in Warner Bros. Discovery by 448.3% during the fourth quarter. Rosenberg Matthew Hamilton now owns 4,578 shares of the company’s stock valued at $48,000 after buying an additional 3,743 shares in the last quarter. Larson Financial Group LLC lifted its holdings 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. Finally, Future Financial Wealth Managment LLC acquired a new position in shares of Warner Bros. Discovery in the 3rd quarter worth approximately $41,000. 59.95% of the stock is currently owned by institutional investors.

Insider Activity at Warner Bros. Discovery

In related news, insider Savalle Sims sold 169,436 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were 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 directly owns 599,317 shares of the company’s stock, valued at $7,407,558.12. This represents a 22.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Bank of America reissued a “buy” rating and set a $14.00 price target on shares of Warner Bros. Discovery in a research report on Thursday, December 12th. Guggenheim raised their price target on shares of Warner Bros. Discovery from $11.00 to $12.50 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Raymond James boosted their price objective on shares of Warner Bros. Discovery from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Moffett Nathanson raised shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and raised their target price for the stock from $9.00 to $13.00 in a report on Tuesday, January 21st. Finally, Rosenblatt Securities upped their target price on Warner Bros. Discovery from $9.00 to $13.00 and gave the company a “neutral” rating in a report on Friday, December 13th. Ten equities research analysts have rated the stock with a hold rating and eleven have given 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 $11.76.

Warner Bros. Discovery Price Performance

NASDAQ WBD opened at $10.19 on Thursday. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70. The firm has a market capitalization of $25.00 billion, a PE ratio of -2.22, a P/E/G ratio of 6.36 and a beta of 1.49. The company’s 50 day simple moving average is $10.46 and its 200 day simple moving average is $8.96. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.12. The company had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.79 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period last year, the firm earned ($0.17) EPS. As a group, equities research analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

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.