Kestra Private Wealth Services LLC Increases Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Kestra Private Wealth Services LLC boosted its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 101.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 49,024 shares of the company's stock after purchasing an additional 24,692 shares during the period. Kestra Private Wealth Services LLC's holdings in Warner Bros. Discovery were worth $518,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in WBD. Sugar Maple Asset Management LLC acquired a new stake in shares of Warner Bros. Discovery during the fourth quarter worth about $33,000. New Wave Wealth Advisors LLC acquired a new stake in Warner Bros. Discovery during the 4th quarter worth approximately $37,000. Larson Financial Group LLC boosted its position in 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 buying an additional 1,754 shares during the period. Rosenberg Matthew Hamilton grew its stake in shares of Warner Bros. Discovery by 448.3% in the fourth quarter. Rosenberg Matthew Hamilton now owns 4,578 shares of the company's stock worth $48,000 after acquiring an additional 3,743 shares in the last quarter. Finally, Brooklyn Investment Group purchased a new stake in shares of Warner Bros. Discovery during the third quarter worth $51,000. Institutional investors and hedge funds own 59.95% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Moffett Nathanson raised Warner Bros. Discovery from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $9.00 to $13.00 in a research note on Tuesday, January 21st. Guggenheim boosted their price objective on Warner Bros. Discovery from $11.00 to $12.50 and gave the stock a "buy" rating in a research report on Thursday, December 12th. Barclays raised their target price on shares of Warner Bros. Discovery from $8.00 to $10.00 and gave the company an "equal weight" rating in a report on Friday, November 8th. KeyCorp increased their price objective on shares of Warner Bros. Discovery from $11.00 to $14.00 and gave the company an "overweight" rating in a research report on Tuesday, December 10th. Finally, The Goldman Sachs Group raised their price objective on shares of Warner Bros. Discovery from $9.50 to $10.75 and gave the company a "neutral" rating in a report on Thursday, December 19th. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $11.76.

Warner Bros. Discovery Stock Performance

Shares of WBD traded up $0.27 during mid-day trading on Wednesday, reaching $10.89. 32,387,210 shares of the company's stock were exchanged, compared to its average volume of 25,974,299. The business's fifty day simple moving average is $10.39 and its 200-day simple moving average is $9.06. The stock has a market capitalization of $26.70 billion, a PE ratio of -2.38, a price-to-earnings-growth ratio of 8.09 and a beta of 1.49. Warner Bros. Discovery, Inc. has a 52-week low of $6.64 and a 52-week high of $12.70. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80.

Insiders Place Their Bets

In other Warner Bros. Discovery news, insider Savalle Sims sold 169,436 shares of the company's stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $12.36, for a total transaction of $2,094,228.96. Following the completion of the sale, the insider now directly owns 599,317 shares of the company's stock, valued at $7,407,558.12. This represents a 22.04 % decrease in their position. The transaction 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 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.