Apollon Wealth Management LLC Has $364,000 Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Apollon Wealth Management LLC cut its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 35.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,435 shares of the company’s stock after selling 19,284 shares during the quarter. Apollon Wealth Management LLC’s holdings in Warner Bros. Discovery were worth $364,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of WBD. Sugar Maple Asset Management LLC bought a new position in shares of Warner Bros. Discovery in the fourth quarter valued at about $33,000. New Wave Wealth Advisors LLC bought a new position in shares of Warner Bros. Discovery in the fourth quarter valued at about $37,000. Larson Financial Group LLC raised its position in shares of Warner Bros. Discovery by 54.1% in the third quarter. Larson Financial Group LLC now owns 4,998 shares of the company’s stock valued at $41,000 after purchasing an additional 1,754 shares during the period. Rosenberg Matthew Hamilton raised its position in shares of Warner Bros. Discovery by 448.3% in the fourth quarter. Rosenberg Matthew Hamilton now owns 4,578 shares of the company’s stock valued at $48,000 after purchasing an additional 3,743 shares during the period. Finally, Brooklyn Investment Group bought a new position in shares of Warner Bros. Discovery in the third quarter valued at about $51,000. 59.95% of the stock is owned by institutional investors.

Warner Bros. Discovery Trading Up 3.9 %

WBD opened at $10.20 on Friday. The company’s 50 day moving average is $10.41 and its 200-day moving average is $9.02. Warner Bros. Discovery, Inc. has a 1-year low of $6.64 and a 1-year high of $12.70. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. The company has a market cap of $25.02 billion, a P/E ratio of -2.23, a PEG ratio of 7.98 and a beta of 1.49.

Insider Activity

In other news, insider Savalle Sims sold 169,436 shares of the firm’s 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 sale, the insider now directly owns 599,317 shares in the company, valued at approximately $7,407,558.12. This trade represents a 22.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on WBD. Bank of America reissued a “buy” rating and issued a $14.00 price objective on shares of Warner Bros. Discovery in a research report on Thursday, December 12th. Guggenheim raised their price target on shares of Warner Bros. Discovery from $11.00 to $12.50 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Macquarie raised their price target on shares of Warner Bros. Discovery from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. KeyCorp raised their price target on shares of Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. Finally, Rosenblatt Securities raised their price target on shares of Warner Bros. Discovery from $9.00 to $13.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Warner Bros. Discovery has a consensus rating of “Moderate Buy” and a consensus price target of $11.76.

Warner Bros. Discovery Company 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.