Eastern Bank Trims Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Eastern Bank decreased its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBDFree Report) by 14.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,101 shares of the company’s stock after selling 1,207 shares during the period. Eastern Bank’s holdings in Warner Bros. Discovery were worth $75,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Larson Financial Group LLC increased its stake in Warner Bros. Discovery by 54.1% in the third 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. Future Financial Wealth Managment LLC bought a new position in shares of Warner Bros. Discovery during the 3rd quarter valued at about $41,000. Brooklyn Investment Group purchased a new position in shares of Warner Bros. Discovery during the 3rd quarter valued at about $51,000. Quarry LP lifted its position in Warner Bros. Discovery by 2,185.1% in the 2nd 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, Cromwell Holdings LLC purchased a new stake in Warner Bros. Discovery in the third quarter worth approximately $61,000. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Warner Bros. Discovery

In other news, insider Savalle Sims sold 169,436 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $12.36, for a total value of $2,094,228.96. Following the sale, the insider now directly owns 599,317 shares of the company’s stock, valued at $7,407,558.12. The trade was a 22.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

WBD has been the subject of a number of recent research reports. Barrington Research restated an “outperform” rating and issued a $16.00 price objective on shares of Warner Bros. Discovery in a report on Friday, December 13th. JPMorgan Chase & Co. boosted their price target on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Tuesday. Bank of America reaffirmed a “buy” rating and set a $14.00 price objective on shares of Warner Bros. Discovery in a research note on Thursday, December 12th. KeyCorp boosted their target price on Warner Bros. Discovery from $11.00 to $14.00 and gave the company an “overweight” rating in a research note on Tuesday, December 10th. Finally, Raymond James raised their price target on Warner Bros. Discovery from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Eleven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Warner Bros. Discovery has an average rating of “Hold” and a consensus price target of $11.56.

Read Our Latest Report on Warner Bros. Discovery

Warner Bros. Discovery Stock Performance

Shares of WBD opened at $9.73 on Wednesday. The company has a 50-day simple moving average of $10.33 and a two-hundred day simple moving average of $8.69. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a market capitalization of $23.87 billion, a PE ratio of -2.12 and a beta of 1.52. Warner Bros. Discovery, Inc. has a one year low of $6.64 and a one year high of $12.70.

Warner Bros. Discovery (NASDAQ:WBDGet Free Report) last released its earnings results on Thursday, November 7th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.12. The company had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.79 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.17) EPS. On average, analysts anticipate that Warner Bros. Discovery, Inc. will post -4.37 EPS for the current fiscal year.

Warner Bros. Discovery Profile

(Free Report)

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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Institutional Ownership by Quarter for Warner Bros. Discovery (NASDAQ:WBD)

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