First Horizon Advisors Inc. Cuts Stock Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

First Horizon Advisors Inc. reduced its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 48.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,223 shares of the company’s stock after selling 21,803 shares during the quarter. First Horizon Advisors Inc.’s holdings in Warner Bros. Discovery were worth $245,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Deseret Mutual Benefit Administrators increased its stake in Warner Bros. Discovery by 12.0% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 9,925 shares of the company’s stock valued at $105,000 after acquiring an additional 1,066 shares during the last quarter. Hudson Edge Investment Partners Inc. increased its position in shares of Warner Bros. Discovery by 8.3% during the 4th quarter. Hudson Edge Investment Partners Inc. now owns 520,449 shares of the company’s stock valued at $5,501,000 after purchasing an additional 40,037 shares during the last quarter. Handelsbanken Fonder AB raised its holdings in shares of Warner Bros. Discovery by 62.4% during the 4th quarter. Handelsbanken Fonder AB now owns 589,484 shares of the company’s stock valued at $6,231,000 after buying an additional 226,456 shares in the last quarter. Good Life Advisors LLC lifted its position in Warner Bros. Discovery by 19.3% in the 4th quarter. Good Life Advisors LLC now owns 11,952 shares of the company’s stock worth $126,000 after buying an additional 1,930 shares during the last quarter. Finally, Summit Place Financial Advisors LLC boosted its stake in Warner Bros. Discovery by 39.1% in the fourth quarter. Summit Place Financial Advisors LLC now owns 85,153 shares of the company’s stock worth $900,000 after buying an additional 23,925 shares in the last quarter. 59.95% of the stock is currently owned by institutional investors.

Warner Bros. Discovery Stock Down 3.6 %

Shares of NASDAQ WBD opened at $10.69 on Wednesday. The firm has a fifty day simple moving average of $10.31 and a two-hundred day simple moving average of $9.19. The firm has a market capitalization of $26.22 billion, a PE ratio of -2.33, a price-to-earnings-growth ratio of 8.64 and a beta of 1.49. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70.

Insider Buying and Selling

In other Warner Bros. Discovery news, insider Savalle Sims sold 169,436 shares of Warner Bros. Discovery stock in a transaction that occurred 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 directly 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. JPMorgan Chase & Co. lifted their price target 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. Macquarie lifted their target price 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. Raymond James upped their price target on shares of Warner Bros. Discovery from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. The Goldman Sachs Group raised their price objective on Warner Bros. Discovery from $9.50 to $10.75 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Finally, Bank of America restated a “buy” rating and set a $14.00 target price on shares of Warner Bros. Discovery in a report on Thursday, December 12th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $11.76.

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.