Hartford Investment Management Co. Trims Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Hartford Investment Management Co. lowered its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 1.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 137,657 shares of the company’s stock after selling 2,663 shares during the quarter. Hartford Investment Management Co.’s holdings in Warner Bros. Discovery were worth $1,455,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. AMF Tjanstepension AB bought a new stake in Warner Bros. Discovery during the third quarter worth about $1,031,000. Exchange Traded Concepts LLC boosted its stake in Warner Bros. Discovery by 342.9% during the third quarter. Exchange Traded Concepts LLC now owns 28,542 shares of the company’s stock worth $235,000 after acquiring an additional 22,098 shares in the last quarter. CX Institutional bought a new stake in Warner Bros. Discovery during the third quarter worth about $183,000. Creative Planning boosted its stake in Warner Bros. Discovery by 14.1% during the third quarter. Creative Planning now owns 357,699 shares of the company’s stock worth $2,951,000 after acquiring an additional 44,129 shares in the last quarter. Finally, Good Life Advisors LLC bought a new stake in Warner Bros. Discovery during the third quarter worth about $83,000. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on WBD shares. Wolfe Research raised shares of Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research note on Monday, November 11th. Guggenheim boosted their price objective on shares of Warner Bros. Discovery from $11.00 to $12.50 and gave the stock a “buy” rating in a research note on Thursday, December 12th. JPMorgan Chase & Co. upped their target price 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 upped 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 note on Friday, November 8th. Finally, KeyCorp upped their target price on shares of Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 10th. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $11.76.

Insiders Place Their Bets

In other Warner Bros. Discovery news, insider Savalle Sims sold 169,436 shares of the stock in a transaction that occurred on 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 transaction, the insider now directly owns 599,317 shares in the company, valued at approximately $7,407,558.12. This trade represents a 22.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.80% of the company’s stock.

Warner Bros. Discovery Stock Up 1.4 %

WBD opened at $10.34 on Friday. 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 company has a market capitalization of $25.37 billion, a PE ratio of -2.26, a PEG ratio of 7.98 and a beta of 1.49. The firm’s 50 day simple moving average is $10.40 and its two-hundred day simple moving average is $9.04.

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.