Atria Investments Inc Sells 50,449 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Atria Investments Inc reduced its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 51.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 47,613 shares of the company's stock after selling 50,449 shares during the quarter. Atria Investments Inc's holdings in Warner Bros. Discovery were worth $503,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Golden State Equity Partners lifted its position in shares of Warner Bros. Discovery by 6.5% during the 4th quarter. Golden State Equity Partners now owns 16,124 shares of the company's stock valued at $170,000 after acquiring an additional 986 shares during the period. Deseret Mutual Benefit Administrators boosted its position in shares of Warner Bros. Discovery by 12.0% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 9,925 shares of the company's stock worth $105,000 after purchasing an additional 1,066 shares in the last quarter. Cornerstone Wealth Management LLC grew its stake in shares of Warner Bros. Discovery by 7.4% in the 4th quarter. Cornerstone Wealth Management LLC now owns 15,995 shares of the company's stock valued at $169,000 after buying an additional 1,101 shares during the period. Avestar Capital LLC raised its stake in Warner Bros. Discovery by 9.4% during the 4th quarter. Avestar Capital LLC now owns 14,337 shares of the company's stock worth $152,000 after buying an additional 1,228 shares during the period. Finally, Commerce Bank raised its stake in Warner Bros. Discovery by 2.4% during the 3rd quarter. Commerce Bank now owns 55,963 shares of the company's stock worth $462,000 after buying an additional 1,286 shares during the period. 59.95% of the stock is currently owned by institutional investors and hedge funds.

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Warner Bros. Discovery Price Performance

Shares of Warner Bros. Discovery stock traded up $0.54 during trading on Wednesday, hitting $10.93. The stock had a trading volume of 28,821,512 shares, compared to its average volume of 30,301,279. 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, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70. The firm has a market cap of $26.82 billion, a price-to-earnings ratio of -2.39, a P/E/G ratio of 8.64 and a beta of 1.48. The business's 50-day moving average is $10.35 and its 200 day moving average is $9.53.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced its earnings results on Thursday, February 27th. The company reported ($0.20) earnings per share for the quarter, missing analysts' consensus estimates 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 business had revenue of $10.03 billion during the quarter, compared to the consensus estimate of $10.16 billion. As a group, sell-side analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Analyst Ratings Changes

WBD has been the subject of several recent research reports. The Goldman Sachs Group boosted their price objective on Warner Bros. Discovery from $9.50 to $10.75 and gave the company a "neutral" rating in a report on Thursday, December 19th. 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 note on Tuesday, January 21st. Guggenheim raised their price objective on shares of Warner Bros. Discovery from $11.00 to $12.50 and gave the company a "buy" rating in a research note on Thursday, December 12th. Bank of America reiterated a "buy" rating and set a $14.00 price target on shares of Warner Bros. Discovery in a research note on Thursday, December 12th. Finally, JPMorgan Chase & Co. increased their price objective on Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 14th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $11.91.

Insider Buying and Selling

In related news, Director Piazza Samuel A. Jr. Di bought 17,346 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was bought at an average cost of $11.41 per share, for a total transaction of $197,917.86. Following the acquisition, the director now directly owns 159,932 shares of the company's stock, valued at $1,824,824.12. The trade was a 12.17 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.80% of the stock is currently owned by corporate 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.