Wesbanco Bank Inc. Has $188,000 Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Wesbanco Bank Inc. trimmed its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 9.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,793 shares of the company’s stock after selling 1,942 shares during the period. Wesbanco Bank Inc.’s holdings in Warner Bros. Discovery were worth $188,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Sugar Maple Asset Management LLC bought a new stake in shares of Warner Bros. Discovery during the fourth quarter worth approximately $33,000. Rosenberg Matthew Hamilton raised its stake in shares of Warner Bros. Discovery by 448.3% during the fourth quarter. Rosenberg Matthew Hamilton now owns 4,578 shares of the company’s stock worth $48,000 after buying an additional 3,743 shares during the last quarter. Larson Financial Group LLC raised its stake in shares of Warner Bros. Discovery by 54.1% during the third quarter. Larson Financial Group LLC now owns 4,998 shares of the company’s stock worth $41,000 after buying an additional 1,754 shares during the last quarter. Future Financial Wealth Managment LLC bought a new stake in Warner Bros. Discovery in the third quarter valued at approximately $41,000. Finally, Tompkins Financial Corp increased its stake in Warner Bros. Discovery by 50.8% in the fourth quarter. Tompkins Financial Corp now owns 5,285 shares of the company’s stock valued at $56,000 after purchasing an additional 1,780 shares in the last quarter. 59.95% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on WBD. Guggenheim upped their target price on shares of Warner Bros. Discovery from $11.00 to $12.50 and gave the company a “buy” rating in a research note on Thursday, December 12th. Rosenblatt Securities upped their target price on shares of Warner Bros. Discovery from $9.00 to $13.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. 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. 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. Finally, KeyCorp upped their target price on shares of Warner Bros. Discovery from $11.00 to $14.00 and gave the company an “overweight” rating in a research note on Tuesday, December 10th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.76.

Insider Buying and Selling at Warner Bros. Discovery

In other Warner Bros. Discovery news, insider Savalle Sims sold 169,436 shares of the stock in a transaction on 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 owns 599,317 shares in the company, valued at $7,407,558.12. This trade represents a 22.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.80% of the company’s stock.

Warner Bros. Discovery Stock Performance

Shares of WBD opened at $10.25 on Friday. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70. The firm has a fifty day simple moving average of $10.42 and a 200 day simple moving average of $8.81. The stock has a market capitalization of $25.14 billion, a price-to-earnings ratio of -2.24, a PEG ratio of 6.12 and a beta of 1.50. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly 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 firm had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.79 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter last year, the company posted ($0.17) earnings per share. Research analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

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.