Bogart Wealth LLC Lowers Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Bogart Wealth LLC trimmed its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 27.4% in the 4th quarter, HoldingsChannel reports. The fund owned 2,586 shares of the company’s stock after selling 976 shares during the quarter. Bogart Wealth LLC’s holdings in Warner Bros. Discovery were worth $27,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Stonebridge Financial Group LLC purchased a new position in shares of Warner Bros. Discovery during the fourth quarter worth $26,000. Sugar Maple Asset Management LLC purchased a new position in shares of Warner Bros. Discovery during the fourth quarter worth $33,000. New Wave Wealth Advisors LLC purchased a new position in shares of Warner Bros. Discovery during the fourth quarter worth $37,000. Larson Financial Group LLC boosted its position 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 period. Finally, Rosenberg Matthew Hamilton boosted its position 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 period. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Warner Bros. Discovery Stock Performance

Shares of WBD stock opened at $10.34 on Friday. The stock’s 50-day moving average is $10.40 and its two-hundred day moving average is $9.04. The firm has a market cap of $25.37 billion, a price-to-earnings ratio of -2.26, a PEG ratio of 7.98 and a beta of 1.49. Warner Bros. Discovery, Inc. has a 1 year low of $6.64 and a 1 year high of $12.70. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80.

Insiders Place Their Bets

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

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Wolfe Research upgraded Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research report on Monday, November 11th. Barrington Research reiterated an “outperform” rating and issued a $16.00 price objective on shares of Warner Bros. Discovery in a research note on Friday, December 13th. The Goldman Sachs Group increased their price objective on Warner Bros. Discovery from $9.50 to $10.75 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Guggenheim increased their price objective on Warner Bros. Discovery from $11.00 to $12.50 and gave the company a “buy” rating in a research note on Thursday, December 12th. Finally, Moffett Nathanson upgraded Warner Bros. Discovery from a “neutral” rating to a “buy” rating and increased their price objective for the company from $9.00 to $13.00 in a research note on Tuesday, January 21st. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $11.76.

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.