Premier Path Wealth Partners LLC Trims Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Premier Path Wealth Partners LLC cut its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 14.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 135,815 shares of the company’s stock after selling 22,272 shares during the quarter. Premier Path Wealth Partners LLC’s holdings in Warner Bros. Discovery were worth $1,436,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of WBD. Commerce Bank raised its holdings in Warner Bros. Discovery by 2.4% during the third quarter. Commerce Bank now owns 55,963 shares of the company’s stock valued at $462,000 after acquiring an additional 1,286 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in shares of Warner Bros. Discovery by 0.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 183,462 shares of the company’s stock worth $1,939,000 after purchasing an additional 1,387 shares in the last quarter. GAM Holding AG lifted its holdings in Warner Bros. Discovery by 0.3% in the 3rd quarter. GAM Holding AG now owns 457,685 shares of the company’s stock worth $3,776,000 after purchasing an additional 1,437 shares in the last quarter. Waldron Private Wealth LLC boosted its stake in Warner Bros. Discovery by 5.4% in the 3rd quarter. Waldron Private Wealth LLC now owns 28,348 shares of the company’s stock worth $234,000 after purchasing an additional 1,461 shares during the period. Finally, PFG Investments LLC grew its holdings in Warner Bros. Discovery by 1.4% during the 3rd quarter. PFG Investments LLC now owns 112,307 shares of the company’s stock valued at $927,000 after buying an additional 1,517 shares in the last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Price Performance

Warner Bros. Discovery stock opened at $9.52 on Friday. The stock has a market cap of $23.35 billion, a price-to-earnings ratio of -2.08, a price-to-earnings-growth ratio of 9.12 and a beta of 1.50. The firm has a 50-day moving average of $10.37 and a two-hundred day moving average of $8.72. 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 current ratio of 0.80 and a quick ratio of 0.80.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.12. The firm had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.79 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. Warner Bros. Discovery’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.17) earnings per share. On average, research analysts forecast that Warner Bros. Discovery, Inc. will post -4.36 earnings per share for the current year.

Analysts Set New Price Targets

WBD has been the subject of several research analyst reports. Bank of America reaffirmed a “buy” rating and set a $14.00 target price on shares of Warner Bros. Discovery in a research note on Thursday, December 12th. KeyCorp raised their price objective on Warner Bros. Discovery from $11.00 to $14.00 and gave the company an “overweight” rating in a research report on Tuesday, December 10th. JPMorgan Chase & Co. boosted their target price on Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Tuesday. Needham & Company LLC reissued a “hold” rating on shares of Warner Bros. Discovery in a research note on Thursday, October 10th. Finally, Raymond James lifted their price objective on Warner Bros. Discovery from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $11.56.

Insider Transactions at Warner Bros. Discovery

In other news, insider Savalle Sims sold 169,436 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $12.36, for a total value 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 approximately $7,407,558.12. This represents a 22.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.80% of the company’s stock.

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.