Eastern Bank lessened its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD – Free Report) by 14.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,101 shares of the company’s stock after selling 1,207 shares during the period. Eastern Bank’s holdings in Warner Bros. Discovery were worth $75,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Future Financial Wealth Managment LLC bought a new position in Warner Bros. Discovery in the 3rd quarter valued at approximately $41,000. Larson Financial Group LLC raised its stake in shares of Warner Bros. Discovery by 54.1% in the third quarter. Larson Financial Group LLC now owns 4,998 shares of the company’s stock worth $41,000 after purchasing an additional 1,754 shares during the last quarter. Quarry LP lifted its holdings in shares of Warner Bros. Discovery by 2,185.1% during the second quarter. Quarry LP now owns 6,307 shares of the company’s stock valued at $47,000 after purchasing an additional 6,031 shares in the last quarter. Brooklyn Investment Group purchased a new stake in shares of Warner Bros. Discovery during the third quarter valued at $51,000. Finally, William B. Walkup & Associates Inc. bought a new stake in Warner Bros. Discovery in the 2nd quarter worth about $59,000. Institutional investors own 59.95% of the company’s stock.
Warner Bros. Discovery Trading Down 1.1 %
Shares of Warner Bros. Discovery stock opened at $9.73 on Wednesday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. The company has a fifty day moving average of $10.33 and a 200 day moving average of $8.69. The company has a market capitalization of $23.87 billion, a P/E ratio of -2.12 and a beta of 1.52. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.64 and a fifty-two week high of $12.70.
Wall Street Analysts Forecast Growth
Several equities analysts have issued reports on the stock. Raymond James upped their target price on shares of Warner Bros. Discovery from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Bank of America restated a “buy” rating and issued a $14.00 target price on shares of Warner Bros. Discovery in a report on Thursday, December 12th. Barrington Research reiterated an “outperform” rating and set a $16.00 target price on shares of Warner Bros. Discovery in a research note on Friday, December 13th. The Goldman Sachs Group raised their price target on Warner Bros. Discovery from $9.50 to $10.75 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Finally, Barclays upped their price objective on Warner Bros. Discovery from $8.00 to $10.00 and gave the company an “equal weight” rating in a research report on Friday, November 8th. Eleven analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $11.56.
Get Our Latest Stock Analysis on Warner Bros. Discovery
Insider Transactions at Warner Bros. Discovery
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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.80% of the company’s stock.
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.
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