Stratos Wealth Partners LTD. Decreases Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Stratos Wealth Partners LTD. cut its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 37.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,247 shares of the company’s stock after selling 14,443 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Warner Bros. Discovery were worth $256,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in WBD. State Street Corp raised its position in Warner Bros. Discovery by 4.1% in the third quarter. State Street Corp now owns 151,285,963 shares of the company’s stock worth $1,248,109,000 after acquiring an additional 5,898,611 shares during the period. Sessa Capital IM L.P. increased its stake in shares of Warner Bros. Discovery by 24.7% in the 3rd quarter. Sessa Capital IM L.P. now owns 28,410,428 shares of the company’s stock worth $234,386,000 after purchasing an additional 5,625,545 shares in the last quarter. Drexel Morgan & Co. raised its stake in shares of Warner Bros. Discovery by 43.5% in the third quarter. Drexel Morgan & Co. now owns 6,600,463 shares of the company’s stock worth $54,454,000 after buying an additional 2,000,000 shares during the period. Private Management Group Inc. boosted its holdings in Warner Bros. Discovery by 37.7% in the 3rd quarter. Private Management Group Inc. now owns 6,886,143 shares of the company’s stock worth $56,811,000 after buying an additional 1,886,868 shares during the period. Finally, Worldquant Millennium Advisors LLC raised its stake in Warner Bros. Discovery by 110.1% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 3,422,929 shares of the company’s stock valued at $28,239,000 after purchasing an additional 1,793,404 shares during the period. 59.95% of the stock is owned by hedge funds and other institutional investors.

Warner Bros. Discovery Price Performance

Warner Bros. Discovery stock opened at $10.20 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. The company has a fifty day simple moving average of $10.41 and a 200-day simple moving average of $9.02. The stock has a market cap of $25.02 billion, a P/E ratio of -2.23, a price-to-earnings-growth ratio of 7.98 and a beta of 1.49. Warner Bros. Discovery, Inc. has a 12-month low of $6.64 and a 12-month high of $12.70.

Analysts Set New Price Targets

A number of equities analysts have commented on WBD shares. Barrington Research reissued an “outperform” rating and issued a $16.00 price objective on shares of Warner Bros. Discovery in a research note on Friday, December 13th. JPMorgan Chase & Co. boosted their price objective on Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 14th. KeyCorp raised their target price on shares of Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. Bank of America reiterated a “buy” rating and set a $14.00 price target on shares of Warner Bros. Discovery in a report on Thursday, December 12th. Finally, 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. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $11.76.

Insider Buying and Selling at Warner Bros. Discovery

In other news, insider Savalle Sims sold 169,436 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $12.36, for a total value of $2,094,228.96. Following the transaction, the insider now 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible 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.