Rhumbline Advisers Has $44.28 Million Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Rhumbline Advisers trimmed its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 0.8% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 4,189,260 shares of the company's stock after selling 33,314 shares during the quarter. Rhumbline Advisers owned approximately 0.17% of Warner Bros. Discovery worth $44,280,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Golden State Equity Partners raised its stake in 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 in the last quarter. Cornerstone Wealth Management LLC lifted its holdings in Warner Bros. Discovery by 7.4% in the fourth quarter. Cornerstone Wealth Management LLC now owns 15,995 shares of the company's stock worth $169,000 after purchasing an additional 1,101 shares during the period. Avestar Capital LLC increased 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 valued at $152,000 after buying an additional 1,228 shares during the period. Commerce Bank raised its position in shares of 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 in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of Warner Bros. Discovery by 0.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 183,462 shares of the company's stock worth $1,939,000 after buying an additional 1,387 shares in the last quarter. Institutional investors and hedge funds own 59.95% of the company's stock.

Insider Activity

In related news, insider Savalle Sims sold 169,436 shares of the business'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 value of $2,094,228.96. Following the completion of the sale, the insider now owns 599,317 shares of the company's stock, valued at approximately $7,407,558.12. The trade was a 22.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on WBD shares. Barrington Research reiterated an "outperform" rating and set a $16.00 price objective on shares of Warner Bros. Discovery in a research note on Friday, December 13th. 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 note on Thursday, December 12th. Raymond James upped their price objective on Warner Bros. Discovery from $11.00 to $12.00 and gave the company an "outperform" rating in a report on Friday, November 8th. Moffett Nathanson raised Warner Bros. Discovery from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $9.00 to $13.00 in a report on Tuesday, January 21st. Finally, Rosenblatt Securities upped their price target on shares of Warner Bros. Discovery from $9.00 to $13.00 and gave the company a "neutral" rating in a report on Friday, December 13th. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $11.76.

Warner Bros. Discovery Stock Up 0.2 %

WBD traded up $0.03 on Thursday, reaching $10.92. 15,870,135 shares of the company traded hands, compared to its average volume of 25,950,209. The company has a market cap of $26.78 billion, a price-to-earnings ratio of -2.39, a PEG ratio of 8.31 and a beta of 1.49. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. The stock's 50 day moving average price is $10.39 and its 200-day moving average price is $9.09. Warner Bros. Discovery, Inc. has a 52-week low of $6.64 and a 52-week high of $12.70.

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.