IPG Investment Advisors LLC Sells 109,010 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

IPG Investment Advisors LLC lowered its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 12.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 772,404 shares of the company’s stock after selling 109,010 shares during the period. Warner Bros. Discovery makes up about 1.9% of IPG Investment Advisors LLC’s holdings, making the stock its 16th biggest holding. IPG Investment Advisors LLC’s holdings in Warner Bros. Discovery were worth $8,164,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Golden State Equity Partners raised its holdings in Warner Bros. Discovery by 6.5% during the 4th quarter. Golden State Equity Partners now owns 16,124 shares of the company’s stock worth $170,000 after purchasing an additional 986 shares during the last quarter. Deseret Mutual Benefit Administrators raised its stake in Warner Bros. Discovery by 12.0% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 9,925 shares of the company’s stock worth $105,000 after buying an additional 1,066 shares during the last quarter. Cornerstone Wealth Management LLC lifted its holdings in Warner Bros. Discovery by 7.4% in the fourth quarter. Cornerstone Wealth Management LLC now owns 15,995 shares of the company’s stock valued at $169,000 after buying an additional 1,101 shares during the period. Personal CFO Solutions LLC boosted its position in Warner Bros. Discovery by 2.8% during the fourth quarter. Personal CFO Solutions LLC now owns 42,935 shares of the company’s stock valued at $454,000 after acquiring an additional 1,174 shares during the last quarter. Finally, Avestar Capital LLC grew its holdings in Warner Bros. Discovery by 9.4% during the 4th quarter. Avestar Capital LLC now owns 14,337 shares of the company’s stock worth $152,000 after acquiring an additional 1,228 shares during the period. Institutional investors and hedge funds own 59.95% of the company’s stock.

Insider Activity

In other news, Director Piazza Samuel A. Jr. Di purchased 17,346 shares of the stock in a transaction on Monday, March 3rd. The shares were acquired at an average price of $11.41 per share, for a total transaction of $197,917.86. Following the completion of the transaction, the director now directly owns 159,932 shares of the company’s stock, valued at approximately $1,824,824.12. This trade represents a 12.17 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 1.80% of the stock is owned by company insiders.

Warner Bros. Discovery Trading Down 5.8 %

Shares of Warner Bros. Discovery stock opened at $10.37 on Friday. 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 simple moving average of $10.52 and a 200 day simple moving average of $9.70. Warner Bros. Discovery, Inc. has a 12-month low of $6.64 and a 12-month high of $12.70. The company has a market capitalization of $25.46 billion, a P/E ratio of -2.26, a price-to-earnings-growth ratio of 8.64 and a beta of 1.48.

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

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Rosenblatt Securities reissued a “neutral” rating and issued a $13.00 price objective on shares of Warner Bros. Discovery in a research note on Friday, March 7th. The Goldman Sachs Group boosted their price target 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. KeyCorp raised their price objective on shares of Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. Barrington Research reiterated an “outperform” rating and set a $16.00 target price on shares of Warner Bros. Discovery in a research report on Wednesday, March 5th. Finally, Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a report on Friday, February 28th. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Warner Bros. Discovery presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.91.

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.