Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by Wellington Shields & Co. LLC

Wellington Shields & Co. LLC cut its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 13.6% during the 4th quarter, Holdings Channel reports. The firm owned 14,731 shares of the company’s stock after selling 2,319 shares during the period. Wellington Shields & Co. LLC’s holdings in Warner Bros. Discovery were worth $156,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Stonebridge Financial Group LLC bought a new stake in shares of Warner Bros. Discovery during the 4th quarter worth $26,000. SRS Capital Advisors Inc. boosted its stake in shares of Warner Bros. Discovery by 313.4% during the 4th quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company’s stock worth $27,000 after acquiring an additional 1,940 shares in the last quarter. Ethos Financial Group LLC bought a new stake in shares of Warner Bros. Discovery during the 4th quarter worth $29,000. Briaud Financial Planning Inc boosted its stake in shares of Warner Bros. Discovery by 258.1% during the 4th quarter. Briaud Financial Planning Inc now owns 2,775 shares of the company’s stock worth $29,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Sugar Maple Asset Management LLC bought a new stake in shares of Warner Bros. Discovery during the 4th quarter worth $33,000. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Warner Bros. Discovery

In related news, Director Piazza Samuel A. Jr. Di bought 17,346 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were bought at an average cost of $11.41 per share, for a total transaction of $197,917.86. Following the completion of the acquisition, the director now directly owns 159,932 shares in the company, valued at approximately $1,824,824.12. This represents a 12.17 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.80% of the company’s stock.

Warner Bros. Discovery Price Performance

WBD opened at $10.19 on Friday. The stock has a market cap of $25.01 billion, a price-to-earnings ratio of -2.22, a PEG ratio of 8.64 and a beta of 1.48. Warner Bros. Discovery, Inc. has a 1 year low of $6.64 and a 1 year high of $12.70. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. The stock has a fifty day moving average price of $10.37 and a 200 day moving average price of $9.45.

Warner Bros. Discovery (NASDAQ:WBD) last posted its earnings results 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). Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The company had revenue of $10.03 billion for the quarter, compared to the consensus estimate of $10.16 billion. Analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Analysts Set New Price Targets

WBD has been the subject of several research reports. JPMorgan Chase & Co. raised their price objective on Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 14th. Rosenblatt Securities reissued a “neutral” rating and set a $13.00 price objective on shares of Warner Bros. Discovery in a research note on Friday, March 7th. Barrington Research reaffirmed an “outperform” rating and issued a $16.00 target price on shares of Warner Bros. Discovery in a research report on Wednesday, March 5th. Barclays raised their target price on Warner Bros. Discovery from $10.00 to $12.00 and gave the stock an “equal weight” rating in a research report on Friday, February 28th. Finally, Guggenheim raised their target price 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. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Warner Bros. Discovery currently has an average rating of “Moderate Buy” and an average target price of $11.91.

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.