Global Retirement Partners LLC Trims Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Global Retirement Partners LLC reduced its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 19.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 12,895 shares of the company’s stock after selling 3,056 shares during the period. Global Retirement Partners LLC’s holdings in Warner Bros. Discovery were worth $136,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Lorne Steinberg Wealth Management Inc. lifted its holdings in shares of Warner Bros. Discovery by 1.3% in the 4th quarter. Lorne Steinberg Wealth Management Inc. now owns 227,662 shares of the company’s stock valued at $2,406,000 after purchasing an additional 2,960 shares during the last quarter. CIBC Asset Management Inc raised its stake in Warner Bros. Discovery by 3.6% during the 4th quarter. CIBC Asset Management Inc now owns 761,209 shares of the company’s stock valued at $8,046,000 after acquiring an additional 26,184 shares during the last quarter. Mathes Company Inc. raised its stake in Warner Bros. Discovery by 32.6% during the 4th quarter. Mathes Company Inc. now owns 35,441 shares of the company’s stock valued at $375,000 after acquiring an additional 8,713 shares during the last quarter. Everhart Financial Group Inc. raised its stake in Warner Bros. Discovery by 32.3% during the 4th quarter. Everhart Financial Group Inc. now owns 31,378 shares of the company’s stock valued at $332,000 after acquiring an additional 7,663 shares during the last quarter. Finally, Valeo Financial Advisors LLC purchased a new stake in Warner Bros. Discovery during the 4th quarter valued at approximately $239,000. 59.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on WBD shares. Barclays upped their price objective on 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. Wolfe Research raised Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research note on Monday, November 11th. Guggenheim upped their price objective on Warner Bros. Discovery from $11.00 to $12.50 and gave the company a “buy” rating in a research note on Thursday, December 12th. KeyCorp upped their price objective on Warner Bros. Discovery from $11.00 to $14.00 and gave the company an “overweight” rating in a research note on Tuesday, December 10th. Finally, Rosenblatt Securities increased their target price on Warner Bros. Discovery from $9.00 to $13.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Warner Bros. Discovery has a consensus rating of “Moderate Buy” and an average price target of $11.76.

Warner Bros. Discovery Stock Performance

WBD opened at $10.50 on Thursday. The stock has a market cap of $25.76 billion, a P/E ratio of -2.29, 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’s 50 day simple moving average is $10.31 and its 200 day simple moving average is $9.20. Warner Bros. Discovery, Inc. has a 1-year low of $6.64 and a 1-year high of $12.70.

Insider Buying and Selling

In other Warner Bros. Discovery news, insider Savalle Sims sold 169,436 shares of the 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 sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.80% of the company’s stock.

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.