Summit Place Financial Advisors LLC Increases Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Summit Place Financial Advisors LLC raised its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 39.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 85,153 shares of the company's stock after acquiring an additional 23,925 shares during the period. Summit Place Financial Advisors LLC's holdings in Warner Bros. Discovery were worth $900,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Rye Brook Capital LLC purchased a new stake in shares of Warner Bros. Discovery during the 4th quarter valued at $269,000. Lorne Steinberg Wealth Management Inc. raised its position in Warner Bros. Discovery by 1.3% during the fourth quarter. Lorne Steinberg Wealth Management Inc. now owns 227,662 shares of the company's stock valued at $2,406,000 after purchasing an additional 2,960 shares in the last quarter. CIBC Asset Management Inc lifted its stake in Warner Bros. Discovery by 3.6% during the fourth quarter. CIBC Asset Management Inc now owns 761,209 shares of the company's stock worth $8,046,000 after purchasing an additional 26,184 shares during the last quarter. Mathes Company Inc. boosted its holdings in shares of Warner Bros. Discovery by 32.6% in the 4th quarter. Mathes Company Inc. now owns 35,441 shares of the company's stock worth $375,000 after purchasing an additional 8,713 shares in the last quarter. Finally, Everhart Financial Group Inc. increased its position in shares of Warner Bros. Discovery by 32.3% during the 4th quarter. Everhart Financial Group Inc. now owns 31,378 shares of the company's stock valued at $332,000 after purchasing an additional 7,663 shares during the last quarter. Institutional investors own 59.95% of the company's stock.

Warner Bros. Discovery Trading Down 2.4 %

NASDAQ WBD traded down $0.26 during trading on Friday, hitting $10.78. The company had a trading volume of 35,562,988 shares, compared to its average volume of 26,438,125. The company's fifty day moving average is $10.36 and its 200-day moving average is $9.10. 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 company has a market cap of $26.45 billion, a price-to-earnings ratio of -2.35, a price-to-earnings-growth ratio of 8.52 and a beta of 1.49. Warner Bros. Discovery, Inc. has a one year low of $6.64 and a one year high of $12.70.

Analyst Ratings Changes

Several analysts have issued reports on the company. Barclays upped their target price on Warner Bros. Discovery from $8.00 to $10.00 and gave the stock an "equal weight" rating in a research note on Friday, November 8th. KeyCorp boosted their price objective on shares of Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an "overweight" rating in a report on Tuesday, December 10th. Wolfe Research raised shares of Warner Bros. Discovery from an "underperform" rating to a "peer perform" rating in a report on Monday, November 11th. Rosenblatt Securities boosted their price target on shares of Warner Bros. Discovery from $9.00 to $13.00 and gave the stock a "neutral" rating in a research note on Friday, December 13th. Finally, Macquarie upped their price target 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. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $11.76.

Insider Transactions at Warner Bros. Discovery

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

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.