Janney Montgomery Scott LLC Sells 39,874 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Janney Montgomery Scott LLC trimmed its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 35.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 71,951 shares of the company's stock after selling 39,874 shares during the period. Janney Montgomery Scott LLC's holdings in Warner Bros. Discovery were worth $761,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sugar Maple Asset Management LLC bought a new position in Warner Bros. Discovery during the fourth quarter worth $33,000. Future Financial Wealth Managment LLC acquired a new stake in Warner Bros. Discovery in the 3rd quarter valued at about $41,000. Larson Financial Group LLC lifted its position 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 in the last quarter. Rosenberg Matthew Hamilton grew its position in Warner Bros. Discovery by 448.3% during the 4th quarter. Rosenberg Matthew Hamilton now owns 4,578 shares of the company's stock worth $48,000 after purchasing an additional 3,743 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new stake in Warner Bros. Discovery during the 3rd quarter valued at $51,000. 59.95% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Warner Bros. Discovery

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 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 in the company, valued at approximately $7,407,558.12. This represents a 22.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.80% of the stock is currently owned by company insiders.

Warner Bros. Discovery Trading Down 1.3 %

Shares of NASDAQ WBD traded down $0.13 during midday trading on Tuesday, reaching $9.85. The stock had a trading volume of 27,456,604 shares, compared to its average volume of 26,028,492. 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 firm has a market cap of $24.16 billion, a price-to-earnings ratio of -2.15, a price-to-earnings-growth ratio of 7.98 and a beta of 1.49. The company's 50 day moving average price is $10.43 and its 200 day moving average price is $9.01. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $12.70.

Analyst Upgrades and Downgrades

WBD has been the subject of a number of analyst reports. KeyCorp boosted their target price on shares of Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 10th. Moffett Nathanson upgraded shares of Warner Bros. Discovery from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $9.00 to $13.00 in a report on Tuesday, January 21st. Barclays raised their price objective on Warner Bros. Discovery from $8.00 to $10.00 and gave the stock an "equal weight" rating in a research report on Friday, November 8th. Bank of America restated a "buy" rating and issued a $14.00 price objective on shares of Warner Bros. Discovery in a research note on Thursday, December 12th. Finally, 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 note on Friday, November 8th. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $11.76.

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.