HighTower Advisors LLC Sells 77,226 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

HighTower Advisors LLC reduced its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 25.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 231,194 shares of the company’s stock after selling 77,226 shares during the period. HighTower Advisors LLC’s holdings in Warner Bros. Discovery were worth $2,444,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Stonebridge Financial Group LLC bought a new position in Warner Bros. Discovery in the 4th quarter worth approximately $26,000. SRS Capital Advisors Inc. increased its position in shares of Warner Bros. Discovery by 313.4% during the fourth quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company’s stock valued at $27,000 after purchasing an additional 1,940 shares during the period. Ethos Financial Group LLC bought a new stake in shares of Warner Bros. Discovery during the fourth quarter valued at approximately $29,000. Briaud Financial Planning Inc increased its position in shares of Warner Bros. Discovery by 258.1% during the fourth quarter. Briaud Financial Planning Inc now owns 2,775 shares of the company’s stock valued at $29,000 after purchasing an additional 2,000 shares during the period. Finally, Sugar Maple Asset Management LLC bought a new stake in shares of Warner Bros. Discovery during the fourth quarter valued at approximately $33,000. 59.95% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

WBD has been the topic of a number of research reports. Bank of America restated a “buy” rating and set a $14.00 price objective on shares of Warner Bros. Discovery in a research report on Thursday, December 12th. Moffett Nathanson upgraded Warner Bros. Discovery from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $9.00 to $13.00 in a research report on Tuesday, January 21st. KeyCorp boosted their price objective on Warner Bros. Discovery from $11.00 to $14.00 and gave the company an “overweight” rating in a research report on Tuesday, December 10th. Barrington Research restated an “outperform” rating and set a $16.00 price objective on shares of Warner Bros. Discovery in a research report on Wednesday, March 5th. Finally, Barclays boosted their price target on Warner Bros. Discovery from $10.00 to $12.00 and gave the company an “equal weight” rating in a research note on Friday, February 28th. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Warner Bros. Discovery presently has an average rating of “Moderate Buy” and a consensus price target of $11.91.

Insider Transactions at Warner Bros. Discovery

In other news, Director Piazza Samuel A. Jr. Di bought 17,346 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was bought at an average price of $11.41 per share, for a total transaction of $197,917.86. Following the completion of the transaction, the director now directly owns 159,932 shares in the company, valued at $1,824,824.12. The trade was a 12.17 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.80% of the stock is currently owned by corporate insiders.

Warner Bros. Discovery Price Performance

Warner Bros. Discovery stock opened at $10.74 on Friday. 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 $26.36 billion, a P/E ratio of -2.34, a P/E/G ratio of 8.64 and a beta of 1.48. The business’s fifty day moving average is $10.40 and its two-hundred day moving average is $9.58. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.30). The business had revenue of $10.03 billion during the quarter, compared to analyst estimates of $10.16 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. Equities research analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Warner Bros. Discovery Company 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.