Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by OLD National Bancorp IN

OLD National Bancorp IN lowered its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 9.6% during the fourth quarter, Holdings Channel reports. The firm owned 508,791 shares of the company’s stock after selling 54,255 shares during the quarter. OLD National Bancorp IN’s holdings in Warner Bros. Discovery were worth $5,378,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Robeco Institutional Asset Management B.V. boosted its stake in Warner Bros. Discovery by 25.6% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 3,550,885 shares of the company’s stock worth $37,533,000 after purchasing an additional 724,393 shares during the period. Perigon Wealth Management LLC boosted its stake in shares of Warner Bros. Discovery by 21.1% during the fourth quarter. Perigon Wealth Management LLC now owns 18,541 shares of the company’s stock worth $196,000 after buying an additional 3,231 shares during the period. Nilsine Partners LLC purchased a new position in shares of Warner Bros. Discovery during the fourth quarter worth about $150,000. Parkside Investments LLC increased its position in Warner Bros. Discovery by 297.9% in the 4th quarter. Parkside Investments LLC now owns 260,494 shares of the company’s stock valued at $2,753,000 after acquiring an additional 195,026 shares during the period. Finally, Pacer Advisors Inc. raised its stake in Warner Bros. Discovery by 27.3% during the 4th quarter. Pacer Advisors Inc. now owns 363,983 shares of the company’s stock valued at $3,847,000 after acquiring an additional 78,123 shares during the last quarter. 59.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Moffett Nathanson raised Warner Bros. Discovery from a “neutral” rating to a “buy” rating and boosted their target price for the company from $9.00 to $13.00 in a report on Tuesday, January 21st. JPMorgan Chase & Co. boosted their price objective on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Barclays raised 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 note on Friday, November 8th. KeyCorp boosted their price target on shares of Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 10th. Finally, Macquarie raised their price objective on shares of Warner Bros. Discovery from $8.00 to $9.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $11.76.

Warner Bros. Discovery Stock Performance

NASDAQ:WBD opened at $10.62 on Friday. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $12.70. The company has a market capitalization of $26.05 billion, a P/E ratio of -2.32, a price-to-earnings-growth ratio of 6.12 and a beta of 1.50. 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 firm has a 50-day moving average price of $10.47 and a two-hundred day moving average price of $8.90.

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 firm had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.79 billion. During the same period in the previous year, the firm posted ($0.17) EPS. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. As a group, research analysts expect that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Insider Transactions at Warner Bros. Discovery

In other news, insider Savalle Sims sold 169,436 shares of Warner Bros. Discovery stock in a transaction dated 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 sale, the insider now directly owns 599,317 shares in the company, valued at $7,407,558.12. The trade was a 22.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.80% of the company’s stock.

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.