Keystone Financial Planning Inc. Sells 2,946 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Keystone Financial Planning Inc. reduced its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 4.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 64,142 shares of the company’s stock after selling 2,946 shares during the period. Keystone Financial Planning Inc.’s holdings in Warner Bros. Discovery were worth $678,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Commerce Bank boosted its holdings in Warner Bros. Discovery by 2.4% in the third quarter. Commerce Bank now owns 55,963 shares of the company’s stock valued at $462,000 after acquiring an additional 1,286 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Warner Bros. Discovery by 0.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 183,462 shares of the company’s stock worth $1,939,000 after purchasing an additional 1,387 shares in the last quarter. GAM Holding AG grew its stake in shares of Warner Bros. Discovery by 0.3% in the third quarter. GAM Holding AG now owns 457,685 shares of the company’s stock worth $3,776,000 after acquiring an additional 1,437 shares during the last quarter. Waldron Private Wealth LLC increased its stake in Warner Bros. Discovery by 5.4% during the 3rd quarter. Waldron Private Wealth LLC now owns 28,348 shares of the company’s stock valued at $234,000 after purchasing an additional 1,461 shares in the last quarter. Finally, PFG Investments LLC raised its holdings in Warner Bros. Discovery by 1.4% in the 3rd quarter. PFG Investments LLC now owns 112,307 shares of the company’s stock worth $927,000 after acquiring an additional 1,517 shares during the last quarter. 59.95% of the stock is currently owned by institutional investors.

Insider Transactions at Warner Bros. Discovery

In other Warner Bros. Discovery news, insider Savalle Sims sold 169,436 shares of Warner Bros. Discovery stock in a transaction on Friday, December 13th. The shares were sold at an average price of $12.36, for a total transaction 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 $7,407,558.12. The trade was a 22.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on WBD shares. Barrington Research reissued an “outperform” rating and issued a $16.00 target price on shares of Warner Bros. Discovery in a report on Friday, December 13th. Barclays boosted their target price on shares of Warner Bros. Discovery from $8.00 to $10.00 and gave the company an “equal weight” rating in a research note on Friday, November 8th. Raymond James lifted their price objective on Warner Bros. Discovery from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. 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. Finally, 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 report on Tuesday, December 10th. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $11.46.

Warner Bros. Discovery Price Performance

Shares of Warner Bros. Discovery stock traded up $0.11 during trading on Monday, reaching $9.81. 18,441,344 shares of the stock traded hands, compared to its average volume of 27,215,164. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. The company has a market capitalization of $24.07 billion, a price-to-earnings ratio of -2.14 and a beta of 1.52. Warner Bros. Discovery, Inc. has a 52-week low of $6.64 and a 52-week high of $12.70. The business has a fifty day simple moving average of $10.26 and a two-hundred day simple moving average of $8.65.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.12. 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 $9.62 billion for the quarter, compared to analysts’ expectations of $9.79 billion. During the same period in the prior year, the firm earned ($0.17) EPS. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. Sell-side analysts expect that Warner Bros. Discovery, Inc. will post -4.37 EPS for the current year.

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.