Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by Wealth Alliance

Wealth Alliance lessened its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 9.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,142 shares of the company’s stock after selling 1,772 shares during the period. Wealth Alliance’s holdings in Warner Bros. Discovery were worth $181,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Good Life Advisors LLC raised its position in Warner Bros. Discovery by 19.3% in the fourth quarter. Good Life Advisors LLC now owns 11,952 shares of the company’s stock valued at $126,000 after purchasing an additional 1,930 shares during the period. Summit Place Financial Advisors LLC raised its holdings in shares of Warner Bros. Discovery by 39.1% during the 4th quarter. Summit Place Financial Advisors LLC now owns 85,153 shares of the company’s stock valued at $900,000 after buying an additional 23,925 shares during the period. Rye Brook Capital LLC acquired a new position in Warner Bros. Discovery during the 4th quarter worth approximately $269,000. Lorne Steinberg Wealth Management Inc. boosted its holdings in Warner Bros. Discovery by 1.3% in the 4th quarter. Lorne Steinberg Wealth Management Inc. now owns 227,662 shares of the company’s stock worth $2,406,000 after acquiring an additional 2,960 shares during the period. Finally, CIBC Asset Management Inc grew its position in Warner Bros. Discovery by 3.6% in the fourth quarter. CIBC Asset Management Inc now owns 761,209 shares of the company’s stock valued at $8,046,000 after acquiring an additional 26,184 shares in the last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Insider Buying and Selling at Warner Bros. Discovery

In related news, insider Savalle Sims sold 169,436 shares of the 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 owns 599,317 shares of the company’s stock, valued at $7,407,558.12. This trade represents a 22.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on WBD shares. Macquarie boosted their target price on shares of Warner Bros. Discovery from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Bank of America reissued a “buy” rating and issued a $14.00 price target on shares of Warner Bros. Discovery in a report on Thursday, December 12th. Guggenheim raised their price objective on Warner Bros. Discovery from $11.00 to $12.50 and gave the company a “buy” rating in a research note on Thursday, December 12th. The Goldman Sachs Group upped their target price on Warner Bros. Discovery from $9.50 to $10.75 and gave the company a “neutral” rating in a research report on Thursday, December 19th. Finally, Wolfe Research raised shares of Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a report on Monday, November 11th. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Warner Bros. Discovery currently has an average rating of “Moderate Buy” and a consensus target price of $11.76.

Warner Bros. Discovery Trading Down 2.4 %

Shares of NASDAQ WBD opened at $10.78 on Friday. 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 8.64 and a beta of 1.49. The stock’s 50 day simple moving average is $10.33 and its 200 day simple moving average is $9.13. 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 12-month low of $6.64 and a 12-month high of $12.70.

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.