Yacktman Asset Management LP Cuts Stock Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Yacktman Asset Management LP lowered its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 0.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,645,678 shares of the company’s stock after selling 35,087 shares during the quarter. Yacktman Asset Management LP’s holdings in Warner Bros. Discovery were worth $80,815,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Stonebridge Financial Group LLC bought a new stake in Warner Bros. Discovery in the fourth quarter worth $26,000. Sugar Maple Asset Management LLC bought a new stake in shares of Warner Bros. Discovery in the 4th quarter worth about $33,000. New Wave Wealth Advisors LLC purchased a new stake in shares of Warner Bros. Discovery during the 4th quarter valued at about $37,000. Larson Financial Group LLC lifted its holdings in shares of Warner Bros. Discovery by 54.1% in the 3rd quarter. Larson Financial Group LLC now owns 4,998 shares of the company’s stock valued at $41,000 after acquiring an additional 1,754 shares during the last quarter. Finally, Rosenberg Matthew Hamilton grew its position in Warner Bros. Discovery by 448.3% in the fourth quarter. Rosenberg Matthew Hamilton now owns 4,578 shares of the company’s stock worth $48,000 after acquiring an additional 3,743 shares in the last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Price Performance

WBD stock opened at $9.98 on Tuesday. Warner Bros. Discovery, Inc. has a 1-year low of $6.64 and a 1-year high of $12.70. The business has a 50-day moving average price of $10.44 and a 200 day moving average price of $9.00. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on WBD. Rosenblatt Securities upped their price objective on Warner Bros. Discovery from $9.00 to $13.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Barrington Research restated an “outperform” rating and set a $16.00 price target on shares of Warner Bros. Discovery in a report on Friday, December 13th. 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. The Goldman Sachs Group increased their target price on shares of Warner Bros. Discovery from $9.50 to $10.75 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Finally, Bank of America reaffirmed a “buy” rating and set a $14.00 price target on shares of Warner Bros. Discovery in a research note on Thursday, December 12th. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the 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.

Insider Buying and Selling at Warner Bros. Discovery

In other news, insider Savalle Sims sold 169,436 shares of the company’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 completion of the sale, the insider now owns 599,317 shares of the company’s stock, valued at approximately $7,407,558.12. This represents a 22.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.80% of the company’s stock.

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.