Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by Hi Line Capital Management LLC

Hi Line Capital Management LLC decreased its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 0.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 507,016 shares of the company’s stock after selling 2,293 shares during the quarter. Warner Bros. Discovery accounts for approximately 2.3% of Hi Line Capital Management LLC’s holdings, making the stock its 19th largest position. Hi Line Capital Management LLC’s holdings in Warner Bros. Discovery were worth $5,359,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Stonebridge Financial Group LLC bought a new stake in shares of Warner Bros. Discovery in the 4th quarter worth approximately $26,000. Sugar Maple Asset Management LLC bought a new stake in Warner Bros. Discovery during the 4th quarter valued at $33,000. New Wave Wealth Advisors LLC bought a new stake in Warner Bros. Discovery during the 4th quarter valued at $37,000. Larson Financial Group LLC raised its stake in Warner Bros. Discovery by 54.1% during the 3rd quarter. Larson Financial Group LLC now owns 4,998 shares of the company’s stock valued at $41,000 after acquiring an additional 1,754 shares in the last quarter. Finally, Rosenberg Matthew Hamilton raised its stake in shares of Warner Bros. Discovery by 448.3% in the 4th quarter. Rosenberg Matthew Hamilton now owns 4,578 shares of the company’s stock worth $48,000 after buying an additional 3,743 shares in the last quarter. Institutional investors and hedge funds own 59.95% of the company’s stock.

Insider Buying and Selling

In related news, insider Savalle Sims sold 169,436 shares of the business’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 directly owns 599,317 shares in the company, valued at $7,407,558.12. The trade was a 22.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.80% of the stock is owned by insiders.

Warner Bros. Discovery Price Performance

NASDAQ WBD opened at $10.78 on Monday. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month 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. The stock has a market capitalization of $26.45 billion, a PE ratio of -2.35, a P/E/G ratio of 8.64 and a beta of 1.49. The stock has a 50-day simple moving average of $10.33 and a 200 day simple moving average of $9.14.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Moffett Nathanson raised 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 note on Tuesday, January 21st. Guggenheim lifted their target price on Warner Bros. Discovery from $11.00 to $12.50 and gave the stock a “buy” rating in a report on Thursday, December 12th. Raymond James lifted their target price on Warner Bros. Discovery from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. KeyCorp lifted their price target on Warner Bros. Discovery from $11.00 to $14.00 and gave the company an “overweight” rating in a report on Tuesday, December 10th. Finally, Rosenblatt Securities lifted their price target on Warner Bros. Discovery from $9.00 to $13.00 and gave the company a “neutral” rating in a report on Friday, December 13th. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $11.76.

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.