Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by ACT Wealth Management LLC

ACT Wealth Management LLC lowered its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 6.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 41,223 shares of the company’s stock after selling 2,992 shares during the period. Warner Bros. Discovery accounts for 0.2% of ACT Wealth Management LLC’s investment portfolio, making the stock its 27th largest position. ACT Wealth Management LLC’s holdings in Warner Bros. Discovery were worth $436,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of WBD. Sugar Maple Asset Management LLC bought a new position in shares of Warner Bros. Discovery during the 4th quarter valued at about $33,000. Future Financial Wealth Managment LLC acquired a new stake in Warner Bros. Discovery during the third quarter valued at approximately $41,000. Larson Financial Group LLC boosted its holdings in Warner Bros. Discovery by 54.1% during the third quarter. Larson Financial Group LLC now owns 4,998 shares of the company’s stock worth $41,000 after buying an additional 1,754 shares in the last quarter. Quarry LP grew its position in Warner Bros. Discovery by 2,185.1% in the second quarter. Quarry LP now owns 6,307 shares of the company’s stock worth $47,000 after buying an additional 6,031 shares during the last quarter. Finally, Rosenberg Matthew Hamilton increased its holdings in shares of Warner Bros. Discovery by 448.3% in the fourth quarter. Rosenberg Matthew Hamilton now owns 4,578 shares of the company’s stock valued at $48,000 after buying an additional 3,743 shares in the last quarter. 59.95% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Warner Bros. Discovery

In related 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 value of $2,094,228.96. Following the completion of the sale, the insider now owns 599,317 shares of the company’s stock, 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 Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.80% of the company’s stock.

Warner Bros. Discovery Stock Performance

Shares of NASDAQ WBD opened at $9.77 on Wednesday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. Warner Bros. Discovery, Inc. has a one year low of $6.64 and a one year high of $12.70. The business’s 50-day moving average price is $10.37 and its two-hundred day moving average price is $8.75. The company has a market capitalization of $23.97 billion, a P/E ratio of -2.13, a price-to-earnings-growth ratio of 5.73 and a beta of 1.50.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $9.79 billion. During the same period in the previous year, the company earned ($0.17) EPS. The firm’s revenue was down 3.6% on a year-over-year basis. Analysts anticipate that Warner Bros. Discovery, Inc. will post -4.32 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

WBD has been the subject of several research reports. Bank of America reissued a “buy” rating and set a $14.00 price objective on shares of Warner Bros. Discovery in a research note on Thursday, December 12th. 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. Macquarie boosted their price objective on Warner Bros. Discovery from $8.00 to $9.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Guggenheim raised their target price on shares of Warner Bros. Discovery from $11.00 to $12.50 and gave the stock a “buy” rating in a report on Thursday, December 12th. Finally, The Goldman Sachs Group lifted their target price on shares of Warner Bros. Discovery from $9.50 to $10.75 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus 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.