Yacktman Asset Management LP Sells 35,087 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Yacktman Asset Management LP trimmed its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 0.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,645,678 shares of the company's stock after selling 35,087 shares during the quarter. Yacktman Asset Management LP owned 0.31% of Warner Bros. Discovery worth $80,815,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Stonebridge Financial Group LLC acquired a new position in shares of Warner Bros. Discovery in the fourth quarter valued at approximately $26,000. Coronation Fund Managers Ltd. increased its stake in shares of Warner Bros. Discovery by 54.1% in the fourth quarter. Coronation Fund Managers Ltd. now owns 5,644,290 shares of the company's stock valued at $59,660,000 after buying an additional 1,981,050 shares during the period. Kestra Private Wealth Services LLC lifted its stake in shares of Warner Bros. Discovery by 101.5% in the fourth quarter. Kestra Private Wealth Services LLC now owns 49,024 shares of the company's stock worth $518,000 after acquiring an additional 24,692 shares during the period. Empowered Funds LLC boosted its holdings in Warner Bros. Discovery by 5.1% in the fourth quarter. Empowered Funds LLC now owns 61,303 shares of the company's stock valued at $648,000 after acquiring an additional 2,949 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB boosted its holdings in Warner Bros. Discovery by 0.8% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 188,850 shares of the company's stock valued at $1,996,000 after acquiring an additional 1,549 shares during the last quarter. Institutional investors own 59.95% of the company's stock.

Analyst Upgrades and Downgrades

WBD has been the subject of a number of analyst reports. The Goldman Sachs Group boosted their target price 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. Barrington Research restated an "outperform" rating and set a $16.00 target price on shares of Warner Bros. Discovery in a research report on Friday, December 13th. 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 report on Thursday, December 12th. Finally, Rosenblatt Securities raised their price objective on shares of Warner Bros. Discovery from $9.00 to $13.00 and gave the stock a "neutral" rating in a research report on Friday, December 13th. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Warner Bros. Discovery currently has a consensus rating of "Moderate Buy" and an average price target of $11.76.

Insider Activity

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

Warner Bros. Discovery Stock Down 0.8 %

NASDAQ:WBD traded down $0.08 on Wednesday, hitting $9.77. The stock had a trading volume of 9,755,106 shares, compared to its average volume of 25,468,068. The firm's fifty day simple moving average is $10.43 and its two-hundred day simple moving average is $9.01. The stock has a market cap of $23.98 billion, a P/E ratio of -2.13, a price-to-earnings-growth ratio of 7.98 and a beta of 1.49. Warner Bros. Discovery, Inc. has a 1 year low of $6.64 and a 1 year high of $12.70. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80.

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.