Cullen Investment Group LTD. lowered its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD – Free Report) by 3.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 63,534 shares of the company’s stock after selling 2,045 shares during the quarter. Cullen Investment Group LTD.’s holdings in Warner Bros. Discovery were worth $672,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Commerce Bank increased its holdings in Warner Bros. Discovery by 2.4% in the 3rd quarter. Commerce Bank now owns 55,963 shares of the company’s stock valued at $462,000 after purchasing an additional 1,286 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings 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 acquiring an additional 1,387 shares during the period. GAM Holding AG grew its stake in shares of Warner Bros. Discovery by 0.3% in the 3rd quarter. GAM Holding AG now owns 457,685 shares of the company’s stock worth $3,776,000 after purchasing an additional 1,437 shares during the last quarter. Waldron Private Wealth LLC increased its position in shares of Warner Bros. Discovery by 5.4% in the third quarter. Waldron Private Wealth LLC now owns 28,348 shares of the company’s stock worth $234,000 after acquiring an additional 1,461 shares in the last quarter. Finally, PFG Investments LLC increased its position 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 purchasing an additional 1,517 shares during the last quarter. 59.95% of the stock is owned by institutional investors and hedge funds.
Warner Bros. Discovery Trading Up 1.4 %
NASDAQ:WBD opened at $9.84 on Tuesday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. The business has a fifty day moving average of $10.26 and a 200-day moving average of $8.65. Warner Bros. Discovery, Inc. has a 1 year low of $6.64 and a 1 year high of $12.70. The stock has a market cap of $24.14 billion, a price-to-earnings ratio of -2.15 and a beta of 1.52.
Analyst Ratings Changes
WBD has been the topic of a number of analyst reports. Macquarie upped their price target on Warner Bros. Discovery from $8.00 to $9.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Barrington Research restated an “outperform” rating and issued a $16.00 price target on shares of Warner Bros. Discovery in a research report on Friday, December 13th. KeyCorp lifted their price objective on Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 10th. Barclays boosted their target price on shares of Warner Bros. Discovery from $8.00 to $10.00 and gave the stock an “equal weight” rating in a research report on Friday, November 8th. Finally, Rosenblatt Securities increased their price target on Warner Bros. Discovery from $9.00 to $13.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $11.46.
Insider Activity at Warner Bros. Discovery
In other Warner Bros. Discovery news, insider Savalle Sims sold 169,436 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $12.36, for a total value of $2,094,228.96. Following the completion of the transaction, the insider now directly owns 599,317 shares in the company, valued at approximately $7,407,558.12. This represents a 22.04 % decrease in their position. The sale 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.
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.
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