Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by ACT Wealth Management LLC

ACT Wealth Management LLC decreased its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 6.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,223 shares of the company’s stock after selling 2,992 shares during the quarter. Warner Bros. Discovery accounts for about 0.2% of ACT Wealth Management LLC’s investment portfolio, making the stock its 27th largest holding. ACT Wealth Management LLC’s holdings in Warner Bros. Discovery were worth $436,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in WBD. Sugar Maple Asset Management LLC acquired a new position in shares of Warner Bros. Discovery in the fourth quarter worth about $33,000. MassMutual Private Wealth & Trust FSB increased its holdings in Warner Bros. Discovery by 2,914.1% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 113,723 shares of the company’s stock worth $1,202,000 after purchasing an additional 109,950 shares during the last quarter. HB Wealth Management LLC raised its position in shares of Warner Bros. Discovery by 5.3% in the 4th quarter. HB Wealth Management LLC now owns 240,550 shares of the company’s stock valued at $2,543,000 after purchasing an additional 12,154 shares in the last quarter. Integrated Investment Consultants LLC raised its position in shares of Warner Bros. Discovery by 26.9% in the 4th quarter. Integrated Investment Consultants LLC now owns 53,964 shares of the company’s stock valued at $552,000 after purchasing an additional 11,426 shares in the last quarter. Finally, Avanza Fonder AB purchased a new position in shares of Warner Bros. Discovery during the 4th quarter valued at approximately $1,671,000. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Insiders Place Their Bets

In other Warner Bros. Discovery news, insider Savalle Sims sold 169,436 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were 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 in the company, valued at approximately $7,407,558.12. The trade was a 22.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.80% of the stock is currently owned by insiders.

Warner Bros. Discovery Trading Up 2.6 %

Warner Bros. Discovery stock opened at $9.77 on Wednesday. Warner Bros. Discovery, Inc. has a 52-week low of $6.64 and a 52-week high of $12.70. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $23.97 billion, a price-to-earnings ratio of -2.13, a PEG ratio of 5.73 and a beta of 1.50. The firm has a 50-day moving average price of $10.37 and a two-hundred day moving average price of $8.75.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.79 billion. During the same period in the previous year, the firm posted ($0.17) earnings per share. The business’s revenue was down 3.6% on a year-over-year basis. Sell-side analysts expect that Warner Bros. Discovery, Inc. will post -4.32 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 14th. Barclays boosted 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 research report on Friday, November 8th. Raymond James increased their price target on shares of Warner Bros. Discovery from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Guggenheim lifted their price target on Warner Bros. Discovery from $11.00 to $12.50 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Finally, Macquarie upped their price objective on Warner Bros. Discovery from $8.00 to $9.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, Warner Bros. Discovery presently has a consensus rating of “Moderate Buy” and an average price target of $11.76.

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.