Park Avenue Securities LLC Sells 1,972 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Park Avenue Securities LLC trimmed its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 4.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 45,821 shares of the company’s stock after selling 1,972 shares during the period. Park Avenue Securities LLC’s holdings in Warner Bros. Discovery were worth $484,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. American Century Companies Inc. boosted its position in shares of Warner Bros. Discovery by 4.3% during the second quarter. American Century Companies Inc. now owns 454,013 shares of the company’s stock valued at $3,378,000 after purchasing an additional 18,888 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Warner Bros. Discovery by 18.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 1,818,685 shares of the company’s stock valued at $13,531,000 after buying an additional 286,654 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Warner Bros. Discovery during the 2nd quarter valued at $351,000. AE Wealth Management LLC grew its position in shares of Warner Bros. Discovery by 10.9% in the 2nd quarter. AE Wealth Management LLC now owns 36,968 shares of the company’s stock worth $275,000 after buying an additional 3,642 shares during the period. Finally, Pacer Advisors Inc. increased its stake in shares of Warner Bros. Discovery by 3.5% in the 2nd quarter. Pacer Advisors Inc. now owns 274,963 shares of the company’s stock worth $2,046,000 after acquiring an additional 9,197 shares in the last quarter. Institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Price Performance

WBD stock opened at $10.28 on Friday. The company has a market capitalization of $25.22 billion, a PE ratio of -2.24, a price-to-earnings-growth ratio of 5.95 and a beta of 1.50. The company’s fifty day moving average price is $10.39 and its 200-day moving average price is $8.78. Warner Bros. Discovery, Inc. has a one year low of $6.64 and a one year high of $12.70. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80.

Warner Bros. Discovery (NASDAQ:WBD) last posted its earnings results on Thursday, November 7th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.12. The company had revenue of $9.62 billion for the quarter, compared to the consensus estimate 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 firm’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period in the previous year, the business earned ($0.17) earnings per share. On average, equities analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on WBD shares. Rosenblatt Securities boosted their target price on Warner Bros. Discovery from $9.00 to $13.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Bank of America reiterated a “buy” rating and issued a $14.00 price target on shares of Warner Bros. Discovery in a research note on Thursday, December 12th. Wolfe Research raised shares of Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research report on Monday, November 11th. The Goldman Sachs Group lifted their target price on shares of Warner Bros. Discovery from $9.50 to $10.75 and gave the stock a “neutral” rating in a report on Thursday, December 19th. Finally, Barclays increased their price target on shares of Warner Bros. Discovery from $8.00 to $10.00 and gave the company an “equal weight” rating in a report on Friday, November 8th. Ten 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.76.

Insider Activity at Warner Bros. Discovery

In related news, insider Savalle Sims sold 169,436 shares of the company’s 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 transaction, the insider now directly owns 599,317 shares in the company, 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 SEC, which is accessible through this hyperlink. 1.80% of the stock is owned by insiders.

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.