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

Private Advisor Group LLC reduced its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 37.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,262 shares of the company's stock after selling 26,543 shares during the period. Private Advisor Group LLC's holdings in Warner Bros. Discovery were worth $478,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Stonebridge Financial Group LLC acquired a new stake in Warner Bros. Discovery in the fourth quarter worth about $26,000. Sugar Maple Asset Management LLC purchased a new position in shares of Warner Bros. Discovery in the fourth quarter worth approximately $33,000. New Wave Wealth Advisors LLC acquired a new stake in shares of Warner Bros. Discovery during the fourth quarter valued at approximately $37,000. 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. Finally, Rosenberg Matthew Hamilton boosted its stake in Warner Bros. Discovery by 448.3% in 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 during the period. Institutional investors and hedge funds own 59.95% of the company's stock.

Insider Buying and Selling at Warner Bros. Discovery

In related news, Director Piazza Samuel A. Jr. Di bought 17,346 shares of the business's stock in a transaction on Monday, March 3rd. The shares were purchased at an average price of $11.41 per share, for a total transaction of $197,917.86. Following the completion of the transaction, the director now directly owns 159,932 shares of the company's stock, valued at approximately $1,824,824.12. This represents a 12.17 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, insider Savalle Sims sold 169,436 shares of Warner Bros. Discovery stock in a transaction dated 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.80% of the company's stock.

Warner Bros. Discovery Stock Performance

Shares of Warner Bros. Discovery stock traded up $0.11 on Wednesday, hitting $11.43. The stock had a trading volume of 40,442,219 shares, compared to its average volume of 29,998,680. The stock has a market cap of $28.04 billion, a price-to-earnings ratio of -2.50, a price-to-earnings-growth ratio of 8.64 and a beta of 1.49. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $12.70. The business's 50 day moving average is $10.36 and its two-hundred day moving average is $9.34.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last posted 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 firm had revenue of $10.03 billion for the quarter, compared to analyst estimates of $10.16 billion. Analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Analysts Set New Price Targets

WBD has been the subject of a number of research analyst reports. Benchmark restated a "buy" rating and issued a $18.00 target price on shares of Warner Bros. Discovery in a report on Wednesday, February 26th. Barclays increased their price objective on Warner Bros. Discovery from $10.00 to $12.00 and gave the stock an "equal weight" rating in a research note on Friday, February 28th. Wolfe Research raised Warner Bros. Discovery from an "underperform" rating to a "peer perform" rating in a research note on Monday, November 11th. Guggenheim increased their price objective on Warner Bros. Discovery from $11.00 to $12.50 and gave the stock a "buy" rating in a report on Thursday, December 12th. Finally, Bank of America reiterated a "buy" rating and issued a $14.00 target price on shares of Warner Bros. Discovery in a research note on Thursday, December 12th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $11.91.

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.