Byrne Asset Management LLC Invests $877,000 in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Byrne Asset Management LLC acquired a new position in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 83,000 shares of the company's stock, valued at approximately $877,000.

Other institutional investors have also recently made changes to their positions in the company. Sugar Maple Asset Management LLC purchased a new position in shares of Warner Bros. Discovery in the 4th quarter worth approximately $33,000. New Wave Wealth Advisors LLC acquired a new stake in Warner Bros. Discovery during the 4th quarter valued at approximately $37,000. 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 purchasing an additional 3,743 shares during the period. 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 purchasing an additional 1,754 shares during the period. Finally, Future Financial Wealth Managment LLC acquired a new position in shares of Warner Bros. Discovery in the 3rd quarter valued at $41,000. Institutional investors own 59.95% of the company's stock.

Warner Bros. Discovery Trading Down 0.3 %

Shares of WBD traded down $0.03 on Wednesday, reaching $9.82. 17,494,624 shares of the company's stock were exchanged, compared to its average volume of 25,766,928. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $24.09 billion, a P/E ratio of -2.14, a price-to-earnings-growth ratio of 7.98 and a beta of 1.49. The business has a 50 day moving average price of $10.41 and a two-hundred day moving average price of $9.02.

Analyst Ratings Changes

A number of equities analysts have weighed in on WBD shares. Bank of America restated a "buy" rating and set a $14.00 price objective on shares of Warner Bros. Discovery in a research report on Thursday, December 12th. JPMorgan Chase & Co. upped their price objective on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the company a "neutral" rating in a report on Tuesday, January 14th. Moffett Nathanson raised shares of Warner Bros. Discovery from a "neutral" rating to a "buy" rating and upped their target price for the company from $9.00 to $13.00 in a research report on Tuesday, January 21st. Macquarie upped their target price on shares of Warner Bros. Discovery from $8.00 to $9.00 and gave the company a "neutral" rating in a research report on Friday, November 8th. Finally, The Goldman Sachs Group increased their price target on shares of Warner Bros. Discovery from $9.50 to $10.75 and gave the stock 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 issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $11.76.

Insider Buying and Selling at Warner Bros. Discovery

In related news, insider Savalle Sims sold 169,436 shares of the stock in a transaction 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 transaction, the insider now owns 599,317 shares in the company, valued at approximately $7,407,558.12. This represents a 22.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.80% of the company's stock.

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.