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

Baxter Bros Inc. decreased its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 13.0% in the 4th quarter, Holdings Channel reports. The firm owned 48,263 shares of the company’s stock after selling 7,222 shares during the quarter. Baxter Bros Inc.’s holdings in Warner Bros. Discovery were worth $510,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in WBD. Stonebridge Financial Group LLC acquired a new stake in shares of Warner Bros. Discovery during the 4th quarter valued at approximately $26,000. SRS Capital Advisors Inc. raised its holdings in Warner Bros. Discovery by 313.4% during the fourth quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company’s stock worth $27,000 after purchasing an additional 1,940 shares during the last quarter. Ethos Financial Group LLC acquired a new position in Warner Bros. Discovery during the fourth quarter worth $29,000. Briaud Financial Planning Inc boosted its position in Warner Bros. Discovery by 258.1% during the fourth quarter. Briaud Financial Planning Inc now owns 2,775 shares of the company’s stock worth $29,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Sugar Maple Asset Management LLC purchased a new position in shares of Warner Bros. Discovery in the fourth quarter valued at $33,000. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Insider Activity at Warner Bros. Discovery

In other news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of the stock in a transaction on Monday, March 3rd. The stock was bought at an average price of $11.41 per share, with a total value of $197,917.86. Following the completion of the transaction, the director now directly owns 159,932 shares of the company’s stock, valued at $1,824,824.12. The trade was a 12.17 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on WBD shares. Moffett Nathanson upgraded shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $9.00 to $13.00 in a research report on Tuesday, January 21st. Barclays increased their price target on shares of Warner Bros. Discovery from $10.00 to $12.00 and gave the company an “equal weight” rating in a research report on Friday, February 28th. 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. Guggenheim increased their target price on Warner Bros. Discovery from $11.00 to $12.50 and gave the company a “buy” rating in a report on Thursday, December 12th. Finally, Benchmark reissued a “buy” rating and issued a $18.00 price target on shares of Warner Bros. Discovery in a report on Wednesday, February 26th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Warner Bros. Discovery currently has a consensus rating of “Moderate Buy” and an average price target of $11.91.

Warner Bros. Discovery Trading Up 2.1 %

NASDAQ WBD opened at $10.97 on Tuesday. The firm has a market capitalization of $26.93 billion, a price-to-earnings ratio of -2.40, a PEG ratio of 8.64 and a beta of 1.48. 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, Inc. has a one year low of $6.64 and a one year high of $12.70. The company’s 50 day moving average price is $10.42 and its 200 day moving average price is $9.62.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.30). Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The business had revenue of $10.03 billion for the quarter, compared to analysts’ expectations of $10.16 billion. On average, sell-side analysts predict that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current 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.