Waldron Private Wealth LLC Sells 1,246 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Waldron Private Wealth LLC reduced its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 4.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 27,102 shares of the company’s stock after selling 1,246 shares during the quarter. Waldron Private Wealth LLC’s holdings in Warner Bros. Discovery were worth $286,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Creative Planning increased its position in shares of Warner Bros. Discovery by 4.3% during the 2nd quarter. Creative Planning now owns 313,570 shares of the company’s stock valued at $2,333,000 after purchasing an additional 13,000 shares during the last quarter. Quarry LP lifted its position in 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 buying an additional 6,031 shares during the last quarter. Cetera Investment Advisers lifted its position in Warner Bros. Discovery by 8.3% in the 2nd quarter. Cetera Investment Advisers now owns 540,002 shares of the company’s stock worth $4,018,000 after buying an additional 41,457 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in Warner Bros. Discovery in the 2nd quarter worth approximately $1,297,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Warner Bros. Discovery in the 2nd quarter worth approximately $1,674,000. 59.95% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on WBD. Wolfe Research upgraded Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research report on Monday, November 11th. Bank of America reaffirmed a “buy” rating and issued a $14.00 price target on shares of Warner Bros. Discovery in a research note on Thursday, December 12th. KeyCorp boosted their target price on Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. Rosenblatt Securities upped their price target on Warner Bros. Discovery from $9.00 to $13.00 and gave the company a “neutral” rating in a report on Friday, December 13th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Warner Bros. Discovery in a report on Thursday, October 10th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.76.

Insider Buying and Selling

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

Warner Bros. Discovery Stock Performance

NASDAQ WBD opened at $10.44 on Monday. Warner Bros. Discovery, Inc. has a 1-year low of $6.64 and a 1-year high of $12.70. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a market capitalization of $25.61 billion, a PE ratio of -2.28, a P/E/G ratio of 6.36 and a beta of 1.50. The business has a 50 day simple moving average of $10.47 and a two-hundred day simple moving average of $8.93.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.79 billion. During the same period last year, the company earned ($0.17) EPS. Warner Bros. Discovery’s quarterly revenue was down 3.6% compared to the same quarter last year. On average, research analysts predict that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

About Warner Bros. Discovery

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.