Stephens Inc. AR Cuts Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Stephens Inc. AR lowered its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 11.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,890 shares of the company’s stock after selling 5,396 shares during the period. Stephens Inc. AR’s holdings in Warner Bros. Discovery were worth $422,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. State Street Corp grew its stake 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 valued at $1,248,109,000 after purchasing an additional 5,898,611 shares during the last quarter. Sessa Capital IM L.P. grew its stake in Warner Bros. Discovery by 24.7% in the third 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. Drexel Morgan & Co. grew its stake in Warner Bros. Discovery by 43.5% in the third quarter. Drexel Morgan & Co. now owns 6,600,463 shares of the company’s stock valued at $54,454,000 after purchasing an additional 2,000,000 shares during the last quarter. Private Management Group Inc. grew its stake in Warner Bros. Discovery by 37.7% in the third quarter. Private Management Group Inc. now owns 6,886,143 shares of the company’s stock valued at $56,811,000 after purchasing an additional 1,886,868 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC grew its stake in Warner Bros. Discovery by 110.1% in the third 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 last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Up 1.4 %

Shares of WBD opened at $10.34 on Friday. 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, Inc. has a one year low of $6.64 and a one year high of $12.70. The stock has a market capitalization of $25.37 billion, a price-to-earnings ratio of -2.26, a PEG ratio of 7.98 and a beta of 1.49. The stock has a 50 day moving average price of $10.40 and a 200 day moving average price of $9.04.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on WBD shares. The Goldman Sachs Group boosted their price target on Warner Bros. Discovery from $9.50 to $10.75 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Bank of America restated a “buy” rating and set a $14.00 price target on shares of Warner Bros. Discovery in a research note on Thursday, December 12th. Barclays boosted their price target on Warner Bros. Discovery from $8.00 to $10.00 and gave the stock an “equal weight” rating in a research note on Friday, November 8th. Macquarie lifted their target price on Warner Bros. Discovery from $8.00 to $9.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $16.00 target price on shares of Warner Bros. Discovery in a report on Friday, December 13th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $11.76.

Insider Buying and Selling

In other Warner Bros. Discovery news, insider Savalle Sims sold 169,436 shares of the company’s stock in a transaction 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 completion of the sale, the insider now directly owns 599,317 shares in the company, valued at $7,407,558.12. This represents a 22.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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.