Lorne Steinberg Wealth Management Inc. Has $2.41 Million Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Lorne Steinberg Wealth Management Inc. increased its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 1.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 227,662 shares of the company’s stock after acquiring an additional 2,960 shares during the period. Lorne Steinberg Wealth Management Inc.’s holdings in Warner Bros. Discovery were worth $2,406,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. CIBC Asset Management Inc boosted its position in shares of Warner Bros. Discovery by 3.6% during the 4th quarter. CIBC Asset Management Inc now owns 761,209 shares of the company’s stock valued at $8,046,000 after acquiring an additional 26,184 shares in the last quarter. Mathes Company Inc. boosted its position in shares of Warner Bros. Discovery by 32.6% during the 4th quarter. Mathes Company Inc. now owns 35,441 shares of the company’s stock valued at $375,000 after acquiring an additional 8,713 shares in the last quarter. Everhart Financial Group Inc. boosted its position in shares of Warner Bros. Discovery by 32.3% during the 4th quarter. Everhart Financial Group Inc. now owns 31,378 shares of the company’s stock valued at $332,000 after acquiring an additional 7,663 shares in the last quarter. Valeo Financial Advisors LLC acquired a new stake in shares of Warner Bros. Discovery during the 4th quarter valued at about $239,000. Finally, Asset Management One Co. Ltd. boosted its position in Warner Bros. Discovery by 0.8% in the fourth quarter. Asset Management One Co. Ltd. now owns 927,027 shares of the company’s stock valued at $9,836,000 after buying an additional 7,416 shares in the last quarter. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Warner Bros. Discovery Trading Up 2.7 %

WBD opened at $10.62 on Wednesday. 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 cap of $26.05 billion, a price-to-earnings ratio of -2.32, a price-to-earnings-growth ratio of 7.98 and a beta of 1.49. The firm has a 50 day simple moving average of $10.39 and a 200 day simple moving average of $9.06. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.64 and a fifty-two week high of $12.70.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Rosenblatt Securities boosted their price target on shares of Warner Bros. Discovery from $9.00 to $13.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Guggenheim boosted 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. Barclays boosted 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. Moffett Nathanson upgraded shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and boosted their price target for the company from $9.00 to $13.00 in a research report on Tuesday, January 21st. Finally, The Goldman Sachs Group boosted their price target on shares of Warner Bros. Discovery from $9.50 to $10.75 and gave the company a “neutral” rating in a research report on Thursday, December 19th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Warner Bros. Discovery presently has an average rating of “Moderate Buy” and an average target price of $11.76.

Insider Buying and Selling

In related news, insider Savalle Sims sold 169,436 shares of the business’s 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. The trade was a 22.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.80% of the stock is currently owned by insiders.

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.