Brookstone Capital Management Sells 7,851 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Brookstone Capital Management lessened its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 26.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,195 shares of the company’s stock after selling 7,851 shares during the period. Brookstone Capital Management’s holdings in Warner Bros. Discovery were worth $235,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. State Street Corp raised its stake in shares of Warner Bros. Discovery by 4.1% during the third 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 position 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 purchasing an additional 5,625,545 shares during the last quarter. EdgePoint Investment Group Inc. lifted its holdings in Warner Bros. Discovery by 2.6% in the 3rd 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 period. Hotchkis & Wiley Capital Management LLC grew its position in shares of Warner Bros. Discovery by 1.6% in the 3rd 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 last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of 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 buying an additional 687,612 shares during the period. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on WBD. Needham & Company LLC reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a research report on Thursday, October 10th. JPMorgan Chase & Co. lifted their price target on Warner Bros. Discovery from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Tuesday, January 14th. Guggenheim upped their price target on Warner Bros. Discovery from $11.00 to $12.50 and gave the stock a “buy” rating in a research note on Thursday, December 12th. KeyCorp raised their price objective on Warner Bros. Discovery from $11.00 to $14.00 and gave the company an “overweight” rating in a research report on Tuesday, December 10th. Finally, The Goldman Sachs Group upped their target price on shares of Warner Bros. Discovery from $9.50 to $10.75 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Eleven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $11.56.

Insider Buying and Selling at Warner Bros. Discovery

In related news, insider Savalle Sims sold 169,436 shares of Warner Bros. Discovery stock in a transaction dated 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 completion of the transaction, the insider now directly owns 599,317 shares of the company’s stock, valued at approximately $7,407,558.12. The trade was a 22.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.80% of the company’s stock.

Warner Bros. Discovery Trading Up 0.5 %

WBD stock opened at $9.52 on Monday. The company has a market capitalization of $23.35 billion, a price-to-earnings ratio of -2.08, a PEG ratio of 9.12 and a beta of 1.50. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. 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 simple moving average of $10.37 and a two-hundred day simple moving average of $8.74.

Warner Bros. Discovery (NASDAQ:WBD) last issued its earnings results on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.12. The firm had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.79 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The business’s revenue was down 3.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.17) earnings per share. Research analysts anticipate that Warner Bros. Discovery, Inc. will post -4.36 EPS for the current fiscal year.

Warner Bros. Discovery 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.