Oppenheimer & Co. Inc. Lowers Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Oppenheimer & Co. Inc. lowered its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 18.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 290,185 shares of the company’s stock after selling 66,706 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Warner Bros. Discovery were worth $3,067,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of WBD. Stonebridge Financial Group LLC purchased a new stake in Warner Bros. Discovery in the 4th quarter valued at about $26,000. Sugar Maple Asset Management LLC acquired a new stake in shares of Warner Bros. Discovery during the fourth quarter valued at about $33,000. New Wave Wealth Advisors LLC purchased a new stake in shares of Warner Bros. Discovery in the 4th quarter valued at approximately $37,000. Larson Financial Group LLC lifted its holdings in shares of Warner Bros. Discovery by 54.1% in the 3rd quarter. Larson Financial Group LLC now owns 4,998 shares of the company’s stock worth $41,000 after acquiring an additional 1,754 shares during the last quarter. Finally, Rosenberg Matthew Hamilton boosted its position in shares of Warner Bros. Discovery by 448.3% during the 4th quarter. Rosenberg Matthew Hamilton now owns 4,578 shares of the company’s stock worth $48,000 after purchasing an additional 3,743 shares during the period. Institutional investors and hedge funds own 59.95% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on WBD. Needham & Company LLC reissued a “hold” rating on shares of Warner Bros. Discovery in a research report on Friday. KeyCorp boosted their price objective on Warner Bros. Discovery from $11.00 to $14.00 and gave the company an “overweight” rating in a report on Tuesday, December 10th. 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. The Goldman Sachs Group boosted their price target on shares of Warner Bros. Discovery from $9.50 to $10.75 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Finally, Benchmark reissued a “buy” rating and set a $18.00 price target on shares of Warner Bros. Discovery in a research report on Wednesday. Ten research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Warner Bros. Discovery currently has a consensus rating of “Moderate Buy” and an average target price of $11.75.

Insider Buying and Selling at Warner Bros. Discovery

In other Warner Bros. Discovery news, insider Savalle Sims sold 169,436 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $12.36, for a total value of $2,094,228.96. Following the completion of the sale, the insider now owns 599,317 shares in the company, valued at approximately $7,407,558.12. The trade was a 22.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.80% of the stock is currently owned by insiders.

Warner Bros. Discovery Price Performance

WBD stock opened at $11.46 on Friday. The business has a 50 day moving average price of $10.33 and a 200 day moving average price of $9.25. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. The stock has a market cap of $28.11 billion, a price-to-earnings ratio of -2.50, a PEG ratio of 8.64 and a beta of 1.49. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.64 and a fifty-two week high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.30). The company had revenue of $10.03 billion for the quarter, compared to analysts’ expectations of $10.16 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. Equities research analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

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.