Keystone Financial Planning Inc. Sells 2,946 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Keystone Financial Planning Inc. reduced its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 4.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 64,142 shares of the company’s stock after selling 2,946 shares during the period. Keystone Financial Planning Inc.’s holdings in Warner Bros. Discovery were worth $678,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Future Financial Wealth Managment LLC acquired a new position in Warner Bros. Discovery during the 3rd quarter worth approximately $41,000. Larson Financial Group LLC raised its position in shares of Warner Bros. Discovery by 54.1% during 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 period. Quarry LP lifted its holdings in shares of Warner Bros. Discovery by 2,185.1% in the 2nd quarter. Quarry LP now owns 6,307 shares of the company’s stock worth $47,000 after purchasing an additional 6,031 shares in the last quarter. Brooklyn Investment Group acquired a new stake in Warner Bros. Discovery in the 3rd quarter valued at $51,000. Finally, William B. Walkup & Associates Inc. bought a new stake in Warner Bros. Discovery during the 2nd quarter valued at $59,000. Institutional investors and hedge funds own 59.95% of the company’s stock.

Insider Activity at Warner Bros. Discovery

In related news, insider Savalle Sims sold 169,436 shares of the firm’s 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 sale, the insider now directly owns 599,317 shares of the company’s stock, valued at $7,407,558.12. This trade represents a 22.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.80% of the stock is currently owned by corporate insiders.

Warner Bros. Discovery Stock Performance

Shares of WBD stock traded up $0.11 on Monday, hitting $9.81. 18,441,344 shares of the stock were exchanged, compared to its average volume of 27,215,164. Warner Bros. Discovery, Inc. has a one year low of $6.64 and a one year high of $12.70. The firm’s 50 day moving average is $10.26 and its two-hundred day moving average is $8.65. The firm has a market capitalization of $24.07 billion, a PE ratio of -2.14 and a beta of 1.52. 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 (NASDAQ:WBD) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.12. The company had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.79 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.17) earnings per share. Sell-side analysts expect that Warner Bros. Discovery, Inc. will post -4.37 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on WBD. Macquarie raised their price objective on shares of Warner Bros. Discovery from $8.00 to $9.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. The Goldman Sachs Group lifted their price target on Warner Bros. Discovery from $9.50 to $10.75 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Raymond James increased their price objective on Warner Bros. Discovery from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Wolfe Research raised Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research report on Monday, November 11th. Finally, Barclays increased their price target 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 assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $11.46.

Warner Bros. Discovery Company 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.