Allspring Global Investments Holdings LLC Decreases Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Allspring Global Investments Holdings LLC lowered its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 5.9% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 100,905 shares of the company’s stock after selling 6,335 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Warner Bros. Discovery were worth $1,076,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Stonebridge Financial Group LLC purchased a new position in Warner Bros. Discovery in the 4th quarter valued at $26,000. Sugar Maple Asset Management LLC purchased a new position in Warner Bros. Discovery in the 4th quarter valued at $33,000. New Wave Wealth Advisors LLC purchased a new position in shares of Warner Bros. Discovery during the 4th quarter worth $37,000. Rosenberg Matthew Hamilton raised its holdings in shares of Warner Bros. Discovery by 448.3% during the 4th quarter. Rosenberg Matthew Hamilton now owns 4,578 shares of the company’s stock worth $48,000 after acquiring an additional 3,743 shares during the period. Finally, Larson Financial Group LLC raised its holdings in shares of Warner Bros. Discovery by 54.1% during the 3rd quarter. Larson Financial Group LLC now owns 4,998 shares of the company’s stock worth $41,000 after acquiring an additional 1,754 shares during the period. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Performance

NASDAQ WBD opened at $10.78 on Monday. The company has a market cap of $26.45 billion, a P/E ratio of -2.35, a P/E/G ratio of 8.64 and a beta of 1.49. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a 50-day moving average of $10.33 and a two-hundred day moving average of $9.14. Warner Bros. Discovery, Inc. has a 1-year low of $6.64 and a 1-year high of $12.70.

Insider Buying and Selling at Warner Bros. Discovery

In other Warner Bros. Discovery news, insider Savalle Sims sold 169,436 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $12.36, for a total value of $2,094,228.96. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Macquarie lifted their price target on Warner Bros. Discovery from $8.00 to $9.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. 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. Barclays lifted their price target on Warner Bros. Discovery from $8.00 to $10.00 and gave the stock an “equal weight” rating in a report on Friday, November 8th. KeyCorp lifted their price target on Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. Finally, Raymond James lifted their price target on Warner Bros. Discovery from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Warner Bros. Discovery currently has a consensus rating of “Moderate Buy” and an average target price of $11.76.

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.