Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC trimmed its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 25.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 231,194 shares of the company’s stock after selling 77,226 shares during the period. HighTower Advisors LLC’s holdings in Warner Bros. Discovery were worth $2,444,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of WBD. Stonebridge Financial Group LLC acquired a new position in Warner Bros. Discovery during the fourth quarter worth about $26,000. SRS Capital Advisors Inc. grew its holdings in Warner Bros. Discovery by 313.4% during the fourth quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company’s stock worth $27,000 after acquiring an additional 1,940 shares during the period. Ethos Financial Group LLC acquired a new position in Warner Bros. Discovery during the fourth quarter worth about $29,000. Briaud Financial Planning Inc grew its holdings in Warner Bros. Discovery by 258.1% during the fourth quarter. Briaud Financial Planning Inc now owns 2,775 shares of the company’s stock worth $29,000 after acquiring an additional 2,000 shares during the period. Finally, Sugar Maple Asset Management LLC acquired a new position in Warner Bros. Discovery during the fourth quarter worth about $33,000. 59.95% of the stock is owned by institutional investors and hedge funds.

Warner Bros. Discovery Stock Up 0.8 %

Shares of Warner Bros. Discovery stock opened at $10.74 on Friday. The firm has a market cap of $26.36 billion, a price-to-earnings ratio of -2.34, a P/E/G ratio of 8.64 and a beta of 1.48. 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 52-week low of $6.64 and a 52-week high of $12.70. The stock has a 50-day simple moving average of $10.40 and a 200-day simple moving average of $9.58.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.30). The firm had revenue of $10.03 billion for the quarter, compared to analyst estimates of $10.16 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. On average, equities research analysts expect that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were acquired at an average cost of $11.41 per share, with a total value of $197,917.86. Following the purchase, the director now owns 159,932 shares of the company’s stock, valued at approximately $1,824,824.12. The trade was a 12.17 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on WBD shares. Barclays increased their price target on Warner Bros. Discovery from $10.00 to $12.00 and gave the company an “equal weight” rating in a research report on Friday, February 28th. Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a research report on Friday, February 28th. Rosenblatt Securities reiterated a “neutral” rating and issued a $13.00 price target on shares of Warner Bros. Discovery in a research report on Friday, March 7th. Citigroup increased their price target on Warner Bros. Discovery from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. Finally, Bank of America reiterated a “buy” rating and issued a $14.00 price target on shares of Warner Bros. Discovery in a research report on Thursday, December 12th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.91.

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.