Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by AdvisorNet Financial Inc

AdvisorNet Financial Inc trimmed its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 28.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,651 shares of the company’s stock after selling 1,057 shares during the period. AdvisorNet Financial Inc’s holdings in Warner Bros. Discovery were worth $28,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of WBD. State Street Corp boosted its stake in Warner Bros. Discovery by 4.1% during the third quarter. State Street Corp now owns 151,285,963 shares of the company’s stock worth $1,248,109,000 after buying an additional 5,898,611 shares during the last quarter. Sessa Capital IM L.P. boosted its stake in Warner Bros. Discovery by 24.7% during the third quarter. Sessa Capital IM L.P. now owns 28,410,428 shares of the company’s stock worth $234,386,000 after buying an additional 5,625,545 shares during the last quarter. Mackenzie Financial Corp boosted its stake in Warner Bros. Discovery by 1,216.7% during the second quarter. Mackenzie Financial Corp now owns 3,009,558 shares of the company’s stock worth $22,391,000 after buying an additional 2,780,986 shares during the last quarter. Drexel Morgan & Co. boosted its stake in Warner Bros. Discovery by 43.5% during 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 last quarter. Finally, Clifford Capital Partners LLC acquired a new position in Warner Bros. Discovery during the second quarter worth $14,760,000. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Savalle Sims sold 169,436 shares of the stock in a transaction dated 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 in the company, valued at approximately $7,407,558.12. This represents a 22.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on WBD shares. Guggenheim boosted their price objective 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. The Goldman Sachs Group boosted their price objective 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. Rosenblatt Securities upped their price target on Warner Bros. Discovery from $9.00 to $13.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Needham & Company LLC reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a research note on Thursday, October 10th. Finally, Macquarie upped their price target on Warner Bros. Discovery from $8.00 to $9.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Eleven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $11.56.

Warner Bros. Discovery Price Performance

Shares of NASDAQ WBD opened at $9.52 on Friday. The stock’s 50-day moving average is $10.37 and its two-hundred day moving average is $8.73. 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 company has a market cap of $23.35 billion, a price-to-earnings ratio of -2.08, a price-to-earnings-growth ratio of 9.12 and a beta of 1.50.

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

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.