Hi Line Capital Management LLC Sells 2,293 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Hi Line Capital Management LLC cut its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 0.5% during the fourth quarter, Holdings Channel reports. The fund owned 507,016 shares of the company’s stock after selling 2,293 shares during the period. Warner Bros. Discovery makes up about 2.3% of Hi Line Capital Management LLC’s portfolio, making the stock its 19th biggest position. Hi Line Capital Management LLC’s holdings in Warner Bros. Discovery were worth $5,359,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Stonebridge Financial Group LLC bought a new stake in Warner Bros. Discovery during the 4th quarter worth approximately $26,000. Sugar Maple Asset Management LLC bought a new stake in Warner Bros. Discovery during the 4th quarter worth approximately $33,000. New Wave Wealth Advisors LLC bought a new stake in Warner Bros. Discovery during the 4th quarter worth approximately $37,000. Larson Financial Group LLC lifted its holdings 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 worth $41,000 after buying an additional 1,754 shares in the last quarter. Finally, Rosenberg Matthew Hamilton lifted its holdings 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 in the last quarter. 59.95% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on WBD. Raymond James upped their price objective on Warner Bros. Discovery from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Barclays upped their price objective on Warner Bros. Discovery from $8.00 to $10.00 and gave the stock an “equal weight” rating in a report on Friday, November 8th. JPMorgan Chase & Co. upped their price objective on Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Tuesday, January 14th. Moffett Nathanson raised Warner Bros. Discovery from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $9.00 to $13.00 in a report on Tuesday, January 21st. Finally, Rosenblatt Securities upped their price objective on Warner Bros. Discovery from $9.00 to $13.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $11.76.

Warner Bros. Discovery Price Performance

WBD opened at $10.78 on Monday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70. The company has a fifty day simple moving average of $10.33 and a 200 day simple moving average of $9.14. The stock has a market cap of $26.45 billion, a P/E ratio of -2.35, a P/E/G ratio of 8.64 and a beta of 1.49.

Insider Activity at Warner Bros. Discovery

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

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.