Private Advisor Group LLC Trims Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Private Advisor Group LLC lowered its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 37.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 45,262 shares of the company’s stock after selling 26,543 shares during the quarter. Private Advisor Group LLC’s holdings in Warner Bros. Discovery were worth $478,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of WBD. Stonebridge Financial Group LLC purchased a new stake in Warner Bros. Discovery in the fourth quarter worth $26,000. Sugar Maple Asset Management LLC purchased a new stake in Warner Bros. Discovery in the fourth quarter worth $33,000. New Wave Wealth Advisors LLC bought a new position in Warner Bros. Discovery in the fourth quarter worth $37,000. Larson Financial Group LLC raised its holdings 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 worth $41,000 after purchasing an additional 1,754 shares in the last quarter. Finally, Rosenberg Matthew Hamilton lifted its position in Warner Bros. Discovery by 448.3% during the fourth quarter. Rosenberg Matthew Hamilton now owns 4,578 shares of the company’s stock valued at $48,000 after buying an additional 3,743 shares during the period. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Warner Bros. Discovery Trading Down 3.8 %

WBD opened at $11.02 on Tuesday. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70. The stock has a fifty day moving average price of $10.33 and a 200-day moving average price of $9.28. The firm has a market cap of $27.03 billion, a price-to-earnings ratio of -2.41, a PEG ratio of 8.64 and a beta of 1.49. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of $0.10 by ($0.30). Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The company had revenue of $10.03 billion for the quarter, compared to analyst estimates of $10.16 billion. As a group, equities research analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. The Goldman Sachs Group raised their target price on shares of Warner Bros. Discovery from $9.50 to $10.75 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Guggenheim lifted their target price on Warner Bros. Discovery from $11.00 to $12.50 and gave the stock a “buy” rating in a report on Thursday, December 12th. Needham & Company LLC reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a report on Friday. JPMorgan Chase & Co. increased their price objective on Warner Bros. Discovery from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Tuesday, January 14th. Finally, Rosenblatt Securities boosted their target price on Warner Bros. Discovery from $9.00 to $13.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. Ten analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Warner Bros. Discovery has a consensus rating of “Moderate Buy” and an average target price of $11.75.

Insiders Place Their Bets

In related 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 completion of the transaction, the insider now directly owns 599,317 shares in the company, valued at $7,407,558.12. The trade was a 22.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.80% of the stock is currently owned by insiders.

Warner Bros. Discovery 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.