Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by White Pine Capital LLC

White Pine Capital LLC cut its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 26.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,328 shares of the company’s stock after selling 6,150 shares during the period. White Pine Capital LLC’s holdings in Warner Bros. Discovery were worth $183,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in WBD. Stonebridge Financial Group LLC purchased a new stake in shares of Warner Bros. Discovery in the 4th quarter valued at $26,000. Sugar Maple Asset Management LLC acquired a new position in Warner Bros. Discovery in the 4th quarter valued at about $33,000. New Wave Wealth Advisors LLC purchased a new stake in Warner Bros. Discovery during the fourth quarter worth about $37,000. Larson Financial Group LLC increased its stake in 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 purchasing an additional 1,754 shares during the period. Finally, Rosenberg Matthew Hamilton increased its stake in Warner Bros. Discovery by 448.3% during 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 during the period. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Warner Bros. Discovery Stock Performance

Shares of Warner Bros. Discovery stock opened at $10.20 on Friday. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a market capitalization of $25.02 billion, a price-to-earnings ratio of -2.23, a PEG ratio of 7.98 and a beta of 1.49. The firm’s fifty day simple moving average is $10.41 and its 200-day simple moving average is $9.02.

Analyst Upgrades and Downgrades

WBD has been the subject of several research reports. KeyCorp boosted their price target 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. Moffett Nathanson raised Warner Bros. Discovery from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $9.00 to $13.00 in a research note on Tuesday, January 21st. Barrington Research reaffirmed an “outperform” rating and issued a $16.00 price target on shares of Warner Bros. Discovery in a research report on Friday, December 13th. JPMorgan Chase & Co. boosted their price objective on Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 14th. Finally, Macquarie upped their target price on shares of Warner Bros. Discovery from $8.00 to $9.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $11.76.

Insider Activity

In other news, insider Savalle Sims sold 169,436 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $12.36, for a total value of $2,094,228.96. Following the transaction, the insider now owns 599,317 shares of the company’s stock, valued at approximately $7,407,558.12. The trade was a 22.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.80% of the company’s stock.

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.