Warner Bros. Discovery, Inc. (NASDAQ:WBD) Stock Holdings Trimmed by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC reduced its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 4.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 23,376 shares of the company’s stock after selling 1,095 shares during the period. Kingsview Wealth Management LLC’s holdings in Warner Bros. Discovery were worth $247,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WBD. State Street Corp grew its holdings in shares of Warner Bros. Discovery by 4.1% during the third quarter. State Street Corp now owns 151,285,963 shares of the company’s stock valued at $1,248,109,000 after purchasing an additional 5,898,611 shares during the last quarter. Sessa Capital IM L.P. grew its holdings in shares of 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 valued at $234,386,000 after purchasing an additional 5,625,545 shares during the last quarter. Drexel Morgan & Co. grew its holdings in shares of Warner Bros. Discovery by 43.5% during the third quarter. Drexel Morgan & Co. now owns 6,600,463 shares of the company’s stock valued at $54,454,000 after purchasing an additional 2,000,000 shares during the last quarter. Private Management Group Inc. grew its holdings in shares of Warner Bros. Discovery by 37.7% during the third quarter. Private Management Group Inc. now owns 6,886,143 shares of the company’s stock valued at $56,811,000 after purchasing an additional 1,886,868 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC grew its holdings in shares of Warner Bros. Discovery by 110.1% during the third quarter. Worldquant Millennium Advisors LLC now owns 3,422,929 shares of the company’s stock valued at $28,239,000 after purchasing an additional 1,793,404 shares during the last quarter. 59.95% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, insider Savalle Sims sold 169,436 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $12.36, for a total transaction of $2,094,228.96. Following the completion of the sale, the insider now directly owns 599,317 shares of the company’s stock, 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 the SEC website. Insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on WBD shares. Barrington Research reaffirmed an “outperform” rating and set a $16.00 target price on shares of Warner Bros. Discovery in a report on Friday, December 13th. Bank of America reaffirmed a “buy” rating and set a $14.00 target price on shares of Warner Bros. Discovery in a report on Thursday, December 12th. Barclays boosted their price objective on Warner Bros. Discovery from $8.00 to $10.00 and gave the stock an “equal weight” rating in a research report on Friday, November 8th. 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 report on Thursday, December 12th. Finally, JPMorgan Chase & Co. boosted their price objective on Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 14th. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $11.76.

Warner Bros. Discovery Stock Performance

WBD opened at $10.34 on Friday. Warner Bros. Discovery, Inc. has a 1-year low of $6.64 and a 1-year high of $12.70. The business has a 50 day moving average price of $10.40 and a two-hundred day moving average price of $9.04. The company has a market capitalization of $25.37 billion, a price-to-earnings ratio of -2.26, a price-to-earnings-growth ratio of 7.98 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.

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.