Avestar Capital LLC Buys 1,228 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Avestar Capital LLC boosted its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 9.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,337 shares of the company’s stock after acquiring an additional 1,228 shares during the period. Avestar Capital LLC’s holdings in Warner Bros. Discovery were worth $152,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of WBD. State Street Corp lifted its holdings in shares of Warner Bros. Discovery by 4.1% in the 3rd quarter. State Street Corp now owns 151,285,963 shares of the company’s stock valued at $1,248,109,000 after acquiring an additional 5,898,611 shares during the last quarter. Sessa Capital IM L.P. raised its holdings in Warner Bros. Discovery by 24.7% during the 3rd quarter. Sessa Capital IM L.P. now owns 28,410,428 shares of the company’s stock valued at $234,386,000 after buying an additional 5,625,545 shares during the period. EdgePoint Investment Group Inc. lifted its position in Warner Bros. Discovery by 2.6% in the third quarter. EdgePoint Investment Group Inc. now owns 21,396,719 shares of the company’s stock worth $176,523,000 after buying an additional 541,192 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its stake in Warner Bros. Discovery by 1.6% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 20,889,437 shares of the company’s stock worth $172,338,000 after buying an additional 329,620 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Warner Bros. Discovery by 4.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 15,685,506 shares of the company’s stock valued at $129,405,000 after acquiring an additional 687,612 shares during the last quarter. 59.95% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Wolfe Research upgraded shares of Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a report on Monday, November 11th. Moffett Nathanson raised shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $9.00 to $13.00 in a research note on Tuesday, January 21st. JPMorgan Chase & Co. upped their target price on Warner Bros. Discovery from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Guggenheim boosted their price objective on Warner Bros. Discovery from $11.00 to $12.50 and gave the company a “buy” rating in a report on Thursday, December 12th. Finally, Bank of America reiterated a “buy” rating and issued a $14.00 target price on shares of Warner Bros. Discovery in a research note on Thursday, December 12th. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Warner Bros. Discovery currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.76.

Warner Bros. Discovery Stock Up 1.4 %

WBD stock opened at $10.34 on Friday. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $12.70. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. The firm has a 50-day simple moving average of $10.40 and a 200-day simple moving average of $9.04. The stock has a market capitalization of $25.37 billion, a P/E ratio of -2.26, a P/E/G ratio of 7.98 and a beta of 1.49.

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 on Friday, December 13th. The shares were sold at an average price of $12.36, for a total transaction of $2,094,228.96. Following the sale, the insider now 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 document filed with the SEC, which is available through this hyperlink. 1.80% of the stock is owned by company insiders.

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.