Chevy Chase Trust Holdings LLC Reduces Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Chevy Chase Trust Holdings LLC decreased its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 2.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,172,768 shares of the company’s stock after selling 29,641 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Warner Bros. Discovery were worth $12,396,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in WBD. Stonebridge Financial Group LLC acquired a new stake in Warner Bros. Discovery in the fourth quarter valued at about $26,000. Sugar Maple Asset Management LLC acquired a new stake in Warner Bros. Discovery in the fourth quarter valued at about $33,000. New Wave Wealth Advisors LLC acquired a new stake in Warner Bros. Discovery in the fourth quarter valued at about $37,000. Larson Financial Group LLC lifted its position in Warner Bros. Discovery by 54.1% in the third quarter. Larson Financial Group LLC now owns 4,998 shares of the company’s stock valued at $41,000 after purchasing an additional 1,754 shares during the period. Finally, Rosenberg Matthew Hamilton lifted its position in Warner Bros. Discovery by 448.3% in the fourth quarter. Rosenberg Matthew Hamilton now owns 4,578 shares of the company’s stock valued at $48,000 after purchasing an additional 3,743 shares during the period. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Insider Activity at Warner Bros. Discovery

In other Warner Bros. Discovery news, insider Savalle Sims sold 169,436 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $12.36, for a total value of $2,094,228.96. Following the transaction, the insider now owns 599,317 shares in the company, valued at $7,407,558.12. The trade was a 22.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.80% of the company’s stock.

Warner Bros. Discovery Stock Performance

NASDAQ:WBD opened at $10.34 on Monday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $25.37 billion, a price-to-earnings ratio of -2.26, a PEG ratio of 7.98 and a beta of 1.49. The firm’s fifty day simple moving average is $10.40 and its 200 day simple moving average is $9.04. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $12.70.

Wall Street Analysts Forecast Growth

WBD has been the subject of a number of research reports. Barclays lifted their price target on shares of Warner Bros. Discovery from $8.00 to $10.00 and gave the company an “equal weight” rating in a research report on Friday, November 8th. Guggenheim lifted their price target on shares of Warner Bros. Discovery from $11.00 to $12.50 and gave the company a “buy” rating in a research report on Thursday, December 12th. Wolfe Research upgraded shares of Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research report on Monday, November 11th. KeyCorp lifted their price target on shares of Warner Bros. Discovery from $11.00 to $14.00 and gave the company an “overweight” rating in a research report on Tuesday, December 10th. Finally, Barrington Research reissued an “outperform” rating and set a $16.00 price objective on shares of Warner Bros. Discovery in a research note on Friday, December 13th. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Warner Bros. Discovery presently has a consensus rating of “Moderate Buy” and an average target price of $11.76.

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.