Principal Financial Group Inc. Sells 46,122 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Principal Financial Group Inc. lowered its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 1.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,533,449 shares of the company’s stock after selling 46,122 shares during the period. Principal Financial Group Inc. owned about 0.10% of Warner Bros. Discovery worth $26,779,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Stonebridge Financial Group LLC bought a new stake in Warner Bros. Discovery during the fourth quarter worth about $26,000. Sugar Maple Asset Management LLC bought 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 shares of Warner Bros. Discovery in the 4th quarter valued at about $37,000. Larson Financial Group LLC lifted its stake in shares of 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 lifted its stake in shares of 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. Institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Down 2.4 %

WBD stock opened at $10.78 on Friday. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.64 and a fifty-two week high of $12.70. The business’s 50 day moving average price is $10.33 and its two-hundred day moving average price is $9.13. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market capitalization of $26.45 billion, a price-to-earnings ratio of -2.35, a price-to-earnings-growth ratio of 8.64 and a beta of 1.49.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Macquarie boosted their target price on Warner Bros. Discovery from $8.00 to $9.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Moffett Nathanson raised Warner Bros. Discovery from a “neutral” rating to a “buy” rating and boosted their target price for the company from $9.00 to $13.00 in a research note on Tuesday, January 21st. Wolfe Research raised Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research note on Monday, November 11th. Bank of America reaffirmed a “buy” rating and set a $14.00 price target on shares of Warner Bros. Discovery in a research report on Thursday, December 12th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $16.00 price target on shares of Warner Bros. Discovery in a research report on Friday, December 13th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Warner Bros. Discovery has an average rating of “Moderate Buy” and an average price target of $11.76.

Insider Buying and Selling

In related news, insider Savalle Sims sold 169,436 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $12.36, for a total value of $2,094,228.96. Following the sale, the insider now owns 599,317 shares in the company, valued at $7,407,558.12. This represents a 22.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.80% of the stock is currently owned by company 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.