Park Avenue Securities LLC Trims Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Park Avenue Securities LLC trimmed its position in Warner Bros. Discovery, Inc. (NASDAQ:WBDFree Report) by 4.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 45,821 shares of the company’s stock after selling 1,972 shares during the quarter. Park Avenue Securities LLC’s holdings in Warner Bros. Discovery were worth $484,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in WBD. American Century Companies Inc. lifted its stake in Warner Bros. Discovery by 4.3% in the second quarter. American Century Companies Inc. now owns 454,013 shares of the company’s stock worth $3,378,000 after acquiring an additional 18,888 shares during the period. Envestnet Asset Management Inc. raised its holdings in shares of Warner Bros. Discovery by 18.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,818,685 shares of the company’s stock valued at $13,531,000 after purchasing an additional 286,654 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Warner Bros. Discovery during the second quarter valued at approximately $351,000. AE Wealth Management LLC increased its holdings in Warner Bros. Discovery by 10.9% during the second quarter. AE Wealth Management LLC now owns 36,968 shares of the company’s stock valued at $275,000 after buying an additional 3,642 shares during the period. Finally, Pacer Advisors Inc. raised its stake in Warner Bros. Discovery by 3.5% in the second quarter. Pacer Advisors Inc. now owns 274,963 shares of the company’s stock worth $2,046,000 after buying an additional 9,197 shares in the last quarter. Institutional investors own 59.95% of the company’s stock.

Insider Activity at Warner Bros. Discovery

In other Warner Bros. Discovery news, insider Savalle Sims sold 169,436 shares of Warner Bros. Discovery stock in a transaction 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 completion of 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 filing with the Securities & Exchange Commission, which is accessible through this link. 1.80% of the stock is owned by company insiders.

Warner Bros. Discovery Stock Up 2.3 %

WBD stock opened at $10.28 on Friday. The company has a market capitalization of $25.22 billion, a P/E ratio of -2.24, a price-to-earnings-growth ratio of 5.95 and a beta of 1.50. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70. The firm’s fifty day simple moving average is $10.39 and its 200-day simple moving average is $8.78. 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 (NASDAQ:WBDGet Free Report) last announced 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. The company had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.79 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period last year, the firm earned ($0.17) EPS. As a group, equities research analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on WBD. Needham & Company LLC reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a research report on Thursday, October 10th. Bank of America reiterated a “buy” rating and issued a $14.00 target price on shares of Warner Bros. Discovery in a research note on Thursday, December 12th. Moffett Nathanson raised shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and increased their price target for the company from $9.00 to $13.00 in a research report on Tuesday. Wolfe Research upgraded shares of Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research note on Monday, November 11th. Finally, Barclays raised their target price on shares of Warner Bros. Discovery from $8.00 to $10.00 and gave the company an “equal weight” rating in a research note on Friday, November 8th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $11.76.

Read Our Latest Analysis on WBD

Warner Bros. Discovery Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Warner Bros. Discovery (NASDAQ:WBD)

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