Lake Street Advisors Group LLC Cuts Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Lake Street Advisors Group LLC trimmed its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 16.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 15,989 shares of the company’s stock after selling 3,037 shares during the quarter. Lake Street Advisors Group LLC’s holdings in Warner Bros. Discovery were worth $169,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. AMF Tjanstepension AB bought a new position in Warner Bros. Discovery during the 3rd quarter valued at about $1,031,000. Allspring Global Investments Holdings LLC lifted its stake in Warner Bros. Discovery by 1.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 107,240 shares of the company’s stock valued at $885,000 after acquiring an additional 1,651 shares during the period. International Assets Investment Management LLC lifted its stake in Warner Bros. Discovery by 629.4% during the 3rd quarter. International Assets Investment Management LLC now owns 189,239 shares of the company’s stock valued at $1,561,000 after acquiring an additional 163,295 shares during the period. DekaBank Deutsche Girozentrale lifted its stake in Warner Bros. Discovery by 55.1% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 614,390 shares of the company’s stock valued at $5,079,000 after acquiring an additional 218,270 shares during the period. Finally, State of Alaska Department of Revenue lifted its stake in Warner Bros. Discovery by 7.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 260,070 shares of the company’s stock valued at $2,145,000 after acquiring an additional 17,590 shares during the period. 59.95% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Savalle Sims sold 169,436 shares of Warner Bros. Discovery stock in a transaction on 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 completion of the sale, the insider now directly owns 599,317 shares in the company, valued at approximately $7,407,558.12. This trade represents a 22.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.80% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on WBD shares. Barrington Research restated an “outperform” rating and set a $16.00 target price on shares of Warner Bros. Discovery in a research note on Thursday. Rosenblatt Securities increased their price objective on shares of Warner Bros. Discovery from $9.00 to $13.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Wolfe Research upgraded shares of Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research note on Monday, November 11th. Benchmark reiterated a “buy” rating and issued a $18.00 price objective on shares of Warner Bros. Discovery in a research note on Wednesday. Finally, KeyCorp increased their price objective on shares of Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 10th. Ten equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, Warner Bros. Discovery currently has an average rating of “Moderate Buy” and an average target price of $11.75.

Warner Bros. Discovery Trading Up 4.2 %

WBD stock opened at $11.46 on Friday. The firm has a fifty day moving average price of $10.32 and a 200 day moving average price of $9.22. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.64 and a fifty-two week 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 firm has a market cap of $28.11 billion, a PE ratio of -2.50, a price-to-earnings-growth ratio of 8.64 and a beta of 1.49.

Warner Bros. Discovery (NASDAQ:WBD) last posted its 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). The business had revenue of $10.03 billion during the quarter, compared to analysts’ expectations of $10.16 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. Sell-side analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Warner Bros. Discovery Company 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.