Concurrent Investment Advisors LLC Sells 3,172 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Concurrent Investment Advisors LLC trimmed its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 11.0% in the 4th quarter, Holdings Channel reports. The fund owned 25,646 shares of the company’s stock after selling 3,172 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Warner Bros. Discovery were worth $271,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of WBD. 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 shares of Warner Bros. Discovery in the fourth quarter valued at about $33,000. New Wave Wealth Advisors LLC acquired a new stake in Warner Bros. Discovery during the fourth quarter worth about $37,000. Rosenberg Matthew Hamilton increased its stake in Warner Bros. Discovery by 448.3% during the fourth 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 period. Finally, Larson Financial Group LLC increased its stake 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 valued at $41,000 after acquiring an additional 1,754 shares during the period. Institutional investors and hedge funds own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Performance

Shares of WBD stock opened at $10.69 on Wednesday. The firm has a market capitalization of $26.22 billion, a price-to-earnings ratio of -2.33, a PEG ratio of 8.64 and a beta of 1.49. 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 business’s 50-day moving average price is $10.31 and its 200-day moving average price is $9.19. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70.

Analyst Upgrades and Downgrades

WBD has been the topic of several recent research reports. KeyCorp lifted their price objective on Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. Macquarie lifted their price target on shares of Warner Bros. Discovery from $8.00 to $9.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Raymond James increased their price objective on shares of Warner Bros. Discovery from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Barclays raised their price objective on shares of Warner Bros. Discovery from $8.00 to $10.00 and gave the stock an “equal weight” rating in a report on Friday, November 8th. Finally, The Goldman Sachs Group upped their target price on shares of Warner Bros. Discovery from $9.50 to $10.75 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $11.76.

Insider Transactions at Warner Bros. Discovery

In other Warner Bros. Discovery news, insider Savalle Sims sold 169,436 shares of the stock in a transaction dated Friday, December 13th. The stock was 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 approximately $7,407,558.12. This trade represents a 22.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.80% of the stock is owned by company insiders.

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.