Essex Financial Services Inc. Sells 1,338 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Essex Financial Services Inc. lowered its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 10.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,134 shares of the company’s stock after selling 1,338 shares during the period. Essex Financial Services Inc.’s holdings in Warner Bros. Discovery were worth $118,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Coronation Fund Managers Ltd. boosted its holdings in Warner Bros. Discovery by 54.1% in the fourth quarter. Coronation Fund Managers Ltd. now owns 5,644,290 shares of the company’s stock worth $59,660,000 after acquiring an additional 1,981,050 shares in the last quarter. Kestra Private Wealth Services LLC boosted its stake in Warner Bros. Discovery by 101.5% in the 4th quarter. Kestra Private Wealth Services LLC now owns 49,024 shares of the company’s stock worth $518,000 after purchasing an additional 24,692 shares in the last quarter. Empowered Funds LLC increased its stake in Warner Bros. Discovery by 5.1% during the 4th quarter. Empowered Funds LLC now owns 61,303 shares of the company’s stock valued at $648,000 after purchasing an additional 2,949 shares in the last quarter. Wilmington Savings Fund Society FSB raised its holdings in shares of Warner Bros. Discovery by 0.8% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 188,850 shares of the company’s stock worth $1,996,000 after buying an additional 1,549 shares during the last quarter. Finally, Byrne Asset Management LLC acquired a new stake in shares of Warner Bros. Discovery during the fourth quarter worth $877,000. Institutional investors own 59.95% of the company’s stock.

Insider Buying and Selling at Warner Bros. Discovery

In other news, insider Savalle Sims sold 169,436 shares of the company’s stock in a transaction on Friday, December 13th. The shares were 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 owns 599,317 shares of the company’s stock, valued at $7,407,558.12. This represents a 22.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

WBD has been the subject of a number of research analyst reports. Wolfe Research upgraded Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research note on Monday, November 11th. Rosenblatt Securities lifted their target price on Warner Bros. Discovery from $9.00 to $13.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. JPMorgan Chase & Co. upped their target price on Warner Bros. Discovery from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Tuesday, January 14th. Barrington Research reissued an “outperform” rating and set a $16.00 price target on shares of Warner Bros. Discovery in a research report on Friday, December 13th. Finally, Barclays upped their price objective on shares of Warner Bros. Discovery from $8.00 to $10.00 and gave the company an “equal weight” rating in a report on Friday, November 8th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.76.

Warner Bros. Discovery Stock Up 1.4 %

WBD opened at $10.34 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $12.70. The company has a market cap of $25.37 billion, a PE ratio of -2.26, a price-to-earnings-growth ratio of 7.98 and a beta of 1.49. The company has a 50-day moving average price of $10.40 and a 200 day moving average price of $9.04.

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.