Vontobel Holding Ltd. Trims Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Vontobel Holding Ltd. lowered its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 7.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 549,562 shares of the company’s stock after selling 43,181 shares during the period. Vontobel Holding Ltd.’s holdings in Warner Bros. Discovery were worth $5,809,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Stonebridge Financial Group LLC acquired a new position in Warner Bros. Discovery in the 4th quarter valued at $26,000. Sugar Maple Asset Management LLC acquired a new position in Warner Bros. Discovery in the 4th quarter valued at $33,000. New Wave Wealth Advisors LLC acquired a new position in Warner Bros. Discovery in the 4th quarter valued at $37,000. Larson Financial Group LLC raised its holdings in Warner Bros. Discovery by 54.1% in the 3rd quarter. Larson Financial Group LLC now owns 4,998 shares of the company’s stock valued at $41,000 after acquiring an additional 1,754 shares during the last quarter. Finally, Rosenberg Matthew Hamilton raised its holdings in Warner Bros. Discovery by 448.3% in the 4th quarter. Rosenberg Matthew Hamilton now owns 4,578 shares of the company’s stock valued at $48,000 after acquiring an additional 3,743 shares during the last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on WBD shares. Wolfe Research upgraded Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a report on Monday, November 11th. Barrington Research restated an “outperform” rating and set a $16.00 price objective on shares of Warner Bros. Discovery in a report on Friday, December 13th. KeyCorp upped their price objective on Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. The Goldman Sachs Group upped their price objective on Warner Bros. Discovery from $9.50 to $10.75 and gave the stock a “neutral” rating in a report on Thursday, December 19th. Finally, Rosenblatt Securities upped their price objective on Warner Bros. Discovery from $9.00 to $13.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $11.76.

Insider Activity

In other news, insider Savalle Sims sold 169,436 shares of the firm’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 directly owns 599,317 shares in the company, valued at $7,407,558.12. This trade represents a 22.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.80% of the company’s stock.

Warner Bros. Discovery Stock Up 1.4 %

Shares of Warner Bros. Discovery stock opened at $10.34 on Friday. The business has a 50-day moving average of $10.40 and a 200-day moving average of $9.04. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. The company has a market capitalization of $25.37 billion, a PE ratio of -2.26, a P/E/G ratio of 7.98 and a beta of 1.49. Warner Bros. Discovery, Inc. has a 1-year low of $6.64 and a 1-year high of $12.70.

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.