Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by OLD National Bancorp IN

OLD National Bancorp IN lessened its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 9.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 508,791 shares of the company’s stock after selling 54,255 shares during the quarter. OLD National Bancorp IN’s holdings in Warner Bros. Discovery were worth $5,378,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Sugar Maple Asset Management LLC purchased a new position in shares of Warner Bros. Discovery during the 4th quarter worth $33,000. Future Financial Wealth Managment LLC acquired a new stake in Warner Bros. Discovery during the third quarter worth about $41,000. Larson Financial Group LLC raised its stake in 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 boosted its holdings in Warner Bros. Discovery by 2,185.1% in the 2nd quarter. Quarry LP now owns 6,307 shares of the company’s stock valued at $47,000 after purchasing an additional 6,031 shares during the last quarter. Finally, Rosenberg Matthew Hamilton grew its stake in shares of Warner Bros. Discovery by 448.3% in the 4th quarter. Rosenberg Matthew Hamilton now owns 4,578 shares of the company’s stock valued at $48,000 after buying an additional 3,743 shares during the period. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Trading Up 1.8 %

NASDAQ:WBD opened at $10.62 on Friday. Warner Bros. Discovery, Inc. has a 12-month low of $6.64 and a 12-month high of $12.70. The firm has a market cap of $26.05 billion, a PE ratio of -2.32, a price-to-earnings-growth ratio of 6.12 and a beta of 1.50. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. The stock has a fifty day moving average price of $10.47 and a 200 day moving average price of $8.90.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings data 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. 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 analysts’ expectations of $9.79 billion. During the same quarter last year, the business posted ($0.17) EPS. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. Sell-side analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Warner Bros. Discovery news, insider Savalle Sims sold 169,436 shares of Warner Bros. Discovery stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $12.36, for a total transaction of $2,094,228.96. Following the completion of the sale, the insider now directly owns 599,317 shares of the company’s stock, valued at $7,407,558.12. The trade was a 22.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Moffett Nathanson raised shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and lifted their price target for the company from $9.00 to $13.00 in a research report on Tuesday, January 21st. Raymond James lifted their target price on Warner Bros. Discovery from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Barclays upped their price target on Warner Bros. Discovery from $8.00 to $10.00 and gave the company an “equal weight” rating in a research note on Friday, November 8th. Guggenheim raised their price objective on Warner Bros. Discovery from $11.00 to $12.50 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Finally, Macquarie upped their target price on shares of Warner Bros. Discovery from $8.00 to $9.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Warner Bros. Discovery currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.76.

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.