Hartford Investment Management Co. Sells 2,663 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Hartford Investment Management Co. trimmed its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 1.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 137,657 shares of the company’s stock after selling 2,663 shares during the period. Hartford Investment Management Co.’s holdings in Warner Bros. Discovery were worth $1,455,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Stonebridge Financial Group LLC bought a new stake in Warner Bros. Discovery in the 4th quarter valued at $26,000. Sugar Maple Asset Management LLC bought a new stake in Warner Bros. Discovery in the 4th quarter valued at $33,000. New Wave Wealth Advisors LLC bought a new stake in Warner Bros. Discovery in the 4th quarter valued at $37,000. Rosenberg Matthew Hamilton increased its holdings in Warner Bros. Discovery by 448.3% in the 4th quarter. Rosenberg Matthew Hamilton now owns 4,578 shares of the company’s stock valued at $48,000 after acquiring an additional 3,743 shares during the last quarter. Finally, Larson Financial Group LLC increased its holdings in Warner Bros. Discovery by 54.1% in the 3rd quarter. Larson Financial Group LLC now owns 4,998 shares of the company’s stock valued at $41,000 after acquiring an additional 1,754 shares during the last quarter. 59.95% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Savalle Sims sold 169,436 shares of the business’s stock in a transaction dated 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 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.80% of the company’s stock.

Warner Bros. Discovery Trading Up 1.4 %

NASDAQ:WBD opened at $10.34 on Friday. Warner Bros. Discovery, Inc. has a one year low of $6.64 and a one year high of $12.70. 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 firm has a market cap of $25.37 billion, a P/E ratio of -2.26, a P/E/G ratio of 7.98 and a beta of 1.49. The firm has a 50-day simple moving average of $10.40 and a 200-day simple moving average of $9.04.

Wall Street Analyst Weigh In

A number of analysts have issued reports on WBD shares. Macquarie lifted their price target on shares of Warner Bros. Discovery from $8.00 to $9.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Raymond James lifted their price objective on shares of Warner Bros. Discovery from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Moffett Nathanson raised shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $9.00 to $13.00 in a research note on Tuesday, January 21st. Guggenheim lifted their price objective on shares of Warner Bros. Discovery from $11.00 to $12.50 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Finally, Wolfe Research raised shares of Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research note on Monday, November 11th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $11.76.

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.