Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by Amalgamated Bank

Amalgamated Bank lowered its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 2.0% during the fourth quarter, HoldingsChannel reports. The fund owned 439,984 shares of the company’s stock after selling 8,796 shares during the period. Amalgamated Bank’s holdings in Warner Bros. Discovery were worth $4,651,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Stonebridge Financial Group LLC acquired a new stake in shares of Warner Bros. Discovery in the fourth quarter valued at approximately $26,000. Sugar Maple Asset Management LLC acquired a new position in shares of Warner Bros. Discovery during the fourth quarter worth about $33,000. New Wave Wealth Advisors LLC acquired a new position in Warner Bros. Discovery during the 4th quarter worth approximately $37,000. Rosenberg Matthew Hamilton raised its position in Warner Bros. Discovery by 448.3% in the fourth quarter. Rosenberg Matthew Hamilton now owns 4,578 shares of the company’s stock worth $48,000 after acquiring an additional 3,743 shares in the last quarter. Finally, Larson Financial Group LLC lifted its stake in shares of 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 purchasing an additional 1,754 shares during the period. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Wall Street Analysts Forecast Growth

WBD has been the topic of a number of research reports. Wolfe Research raised shares of Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research note on Monday, November 11th. Barrington Research reiterated an “outperform” rating and set a $16.00 price objective on shares of Warner Bros. Discovery in a report on Thursday. Guggenheim increased their target price on Warner Bros. Discovery from $11.00 to $12.50 and gave the stock a “buy” rating in a research report on Thursday, December 12th. KeyCorp lifted their price target on shares of Warner Bros. Discovery from $11.00 to $14.00 and gave the company an “overweight” rating in a research report on Tuesday, December 10th. Finally, Moffett Nathanson upgraded Warner Bros. Discovery from a “neutral” rating to a “buy” rating and increased their target price for the company from $9.00 to $13.00 in a research note on Tuesday, January 21st. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.76.

Insider Activity

In related news, insider Savalle Sims sold 169,436 shares of the firm’s stock in a transaction dated 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 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 document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.80% of the company’s stock.

Warner Bros. Discovery Stock Up 4.8 %

WBD opened at $11.00 on Friday. The firm has a market cap of $26.98 billion, a price-to-earnings ratio of -2.40, a PEG ratio of 8.64 and a beta of 1.49. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $12.70. The firm’s 50-day simple moving average is $10.31 and its 200-day simple moving average is $9.20. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of $0.10 by ($0.30). The business had revenue of $10.03 billion for 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 anticipate that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

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.