Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by Wealth Alliance

Wealth Alliance trimmed its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 9.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,142 shares of the company’s stock after selling 1,772 shares during the quarter. Wealth Alliance’s holdings in Warner Bros. Discovery were worth $181,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Principal Financial Group Inc. increased its stake in Warner Bros. Discovery by 3.1% in the third quarter. Principal Financial Group Inc. now owns 2,579,571 shares of the company’s stock valued at $21,281,000 after purchasing an additional 78,653 shares during the last quarter. Hauser Brothers GmbH grew its position in shares of Warner Bros. Discovery by 56.1% in the 3rd quarter. Hauser Brothers GmbH now owns 1,225,000 shares of the company’s stock valued at $10,106,000 after buying an additional 440,000 shares during the last quarter. Private Management Group Inc. grew its position in shares of Warner Bros. Discovery by 37.7% in the 3rd quarter. Private Management Group Inc. now owns 6,886,143 shares of the company’s stock valued at $56,811,000 after buying an additional 1,886,868 shares during the last quarter. Erste Asset Management GmbH acquired a new stake in Warner Bros. Discovery during the 3rd quarter worth $1,474,000. Finally, Blueshift Asset Management LLC purchased a new stake in Warner Bros. Discovery in the third quarter valued at $588,000. 59.95% of the stock is owned by hedge funds and other institutional investors.

Warner Bros. Discovery Stock Down 2.4 %

WBD opened at $10.78 on Friday. The company has a market cap of $26.45 billion, a price-to-earnings ratio of -2.35, a PEG ratio of 8.64 and a beta of 1.49. Warner Bros. Discovery, Inc. has a one year low of $6.64 and a one year high of $12.70. The business’s fifty day moving average is $10.33 and its two-hundred day moving average 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.

Wall Street Analyst Weigh In

WBD has been the topic of a number of research analyst reports. Moffett Nathanson upgraded Warner Bros. Discovery from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $9.00 to $13.00 in a research report on Tuesday, January 21st. Raymond James lifted their price target on Warner Bros. Discovery from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. KeyCorp increased their price objective on Warner Bros. Discovery from $11.00 to $14.00 and gave the company an “overweight” rating in a report on Tuesday, December 10th. Guggenheim lifted their target price on shares of Warner Bros. Discovery from $11.00 to $12.50 and gave the company a “buy” rating in a report on Thursday, December 12th. Finally, Barclays upped their price objective on Warner Bros. Discovery from $8.00 to $10.00 and gave the company an “equal weight” rating in a research note on Friday, November 8th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $11.76.

Insiders Place Their Bets

In other Warner Bros. Discovery news, insider Savalle Sims sold 169,436 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 599,317 shares of the company’s stock, valued at $7,407,558.12. This trade represents a 22.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.80% of the stock is currently owned by company insiders.

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.