Corrado Advisors LLC Reduces Stock Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Corrado Advisors LLC lessened its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 8.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 127,442 shares of the company’s stock after selling 12,368 shares during the quarter. Corrado Advisors LLC’s holdings in Warner Bros. Discovery were worth $1,347,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the stock. Los Angeles Capital Management LLC boosted its holdings in shares of Warner Bros. Discovery by 1,586.7% during the 4th quarter. Los Angeles Capital Management LLC now owns 187,526 shares of the company’s stock valued at $1,982,000 after acquiring an additional 176,408 shares during the last quarter. Blackhawk Capital Partners LLC. boosted its holdings in shares of Warner Bros. Discovery by 28.0% during the 4th quarter. Blackhawk Capital Partners LLC. now owns 43,219 shares of the company’s stock valued at $457,000 after acquiring an additional 9,449 shares during the last quarter. Pine Valley Investments Ltd Liability Co purchased a new stake in shares of Warner Bros. Discovery during the 4th quarter valued at about $23,825,000. IFP Advisors Inc boosted its holdings in shares of Warner Bros. Discovery by 124.8% during the 4th quarter. IFP Advisors Inc now owns 58,714 shares of the company’s stock valued at $624,000 after acquiring an additional 32,592 shares during the last quarter. Finally, Wealthspire Advisors LLC boosted its holdings in shares of Warner Bros. Discovery by 8.5% during the 4th quarter. Wealthspire Advisors LLC now owns 22,216 shares of the company’s stock valued at $235,000 after acquiring an additional 1,749 shares during the last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Insider Activity

In related news, insider Savalle Sims sold 169,436 shares of the firm’s 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 directly owns 599,317 shares of the company’s stock, valued at approximately $7,407,558.12. This trade represents a 22.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on WBD. KeyCorp raised their price target on shares of Warner Bros. Discovery from $11.00 to $14.00 and gave the company an “overweight” rating in a report on Tuesday, December 10th. Moffett Nathanson upgraded shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $9.00 to $13.00 in a research note on Tuesday, January 21st. JPMorgan Chase & Co. increased their price objective on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 14th. Raymond James increased their price objective on shares of Warner Bros. Discovery from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Finally, Barclays increased their price objective on shares of Warner Bros. Discovery from $8.00 to $10.00 and gave the stock 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 given a buy rating to the stock. According to MarketBeat.com, Warner Bros. Discovery has a consensus rating of “Moderate Buy” and an average target price of $11.76.

Warner Bros. Discovery Trading Down 1.8 %

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

Warner Bros. Discovery 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.