Warner Bros. Discovery, Inc. (NASDAQ:WBD) Holdings Cut by Private Management Group Inc.

Private Management Group Inc. reduced its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 18.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,640,650 shares of the company's stock after selling 1,245,493 shares during the quarter. Warner Bros. Discovery comprises about 2.2% of Private Management Group Inc.'s investment portfolio, making the stock its 3rd biggest position. Private Management Group Inc. owned 0.23% of Warner Bros. Discovery worth $59,622,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in WBD. Cetera Investment Advisers lifted its stake in Warner Bros. Discovery by 8.3% in the second quarter. Cetera Investment Advisers now owns 540,002 shares of the company's stock worth $4,018,000 after purchasing an additional 41,457 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Warner Bros. Discovery during the 2nd quarter worth approximately $1,297,000. AMF Tjanstepension AB bought a new stake in shares of Warner Bros. Discovery during the 3rd quarter worth approximately $1,031,000. Czech National Bank grew its position in Warner Bros. Discovery by 7.0% in the 3rd quarter. Czech National Bank now owns 454,526 shares of the company's stock valued at $3,750,000 after acquiring an additional 29,620 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in Warner Bros. Discovery by 121.7% in the third quarter. GAMMA Investing LLC now owns 31,501 shares of the company's stock worth $260,000 after purchasing an additional 17,295 shares during the period. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Macquarie boosted 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. Wolfe Research upgraded Warner Bros. Discovery from an "underperform" rating to a "peer perform" rating in a report on Monday, November 11th. Guggenheim increased their price target 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. Barrington Research restated an "outperform" rating and issued a $16.00 price objective on shares of Warner Bros. Discovery in a report on Friday, December 13th. Finally, Barclays increased their target price on shares of Warner Bros. Discovery from $8.00 to $10.00 and gave the stock an "equal weight" rating in a report on Friday, November 8th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, Warner Bros. Discovery presently has a consensus rating of "Moderate Buy" and a consensus target price of $11.76.

Insider Buying and Selling

In other Warner Bros. Discovery news, insider Savalle Sims sold 169,436 shares of the stock in a transaction dated 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 sale, the insider now directly owns 599,317 shares of the company's stock, valued at approximately $7,407,558.12. This trade represents a 22.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.80% of the company's stock.

Warner Bros. Discovery Stock Performance

Shares of NASDAQ:WBD traded down $0.04 on Friday, hitting $10.16. 22,033,577 shares of the company were exchanged, compared to its average volume of 24,469,668. The firm has a market capitalization of $24.92 billion, a P/E ratio of -2.22, a price-to-earnings-growth ratio of 7.98 and a beta of 1.49. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. Warner Bros. Discovery, Inc. has a 1-year low of $6.64 and a 1-year high of $12.70. The stock's 50 day moving average price is $10.45 and its 200 day moving average price is $8.98.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.05 EPS for the quarter, topping analysts' consensus estimates of ($0.07) by $0.12. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The company had revenue of $9.62 billion during the quarter, compared to analysts' expectations of $9.79 billion. During the same quarter in the previous year, the firm posted ($0.17) EPS. The firm's revenue was down 3.6% compared to the same quarter last year. Sell-side analysts predict that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

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.