Premier Path Wealth Partners LLC Sells 22,272 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Premier Path Wealth Partners LLC lowered its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 14.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. 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 Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Rosenberg Matthew Hamilton raised its position in shares of Warner Bros. Discovery by 448.3% in the fourth 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. Larson Financial Group LLC raised its holdings in shares of Warner Bros. Discovery by 54.1% in 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. Future Financial Wealth Managment LLC bought a new stake in shares of Warner Bros. Discovery during the 3rd quarter valued at about $41,000. Tompkins Financial Corp grew its holdings in shares of Warner Bros. Discovery by 50.8% during the fourth quarter. Tompkins Financial Corp now owns 5,285 shares of the company’s stock worth $56,000 after purchasing an additional 1,780 shares in the last quarter. Finally, Brooklyn Investment Group bought a new position in shares of Warner Bros. Discovery in the third quarter worth approximately $51,000. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Insider Transactions 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 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. This represents a 22.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on WBD. Wolfe Research upgraded shares of Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research report on Monday, November 11th. Barclays increased their price objective on Warner Bros. Discovery from $8.00 to $10.00 and gave the company an “equal weight” rating in a research report on Friday, November 8th. Guggenheim boosted their target price on Warner Bros. Discovery from $11.00 to $12.50 and gave the stock a “buy” rating in a research report on Thursday, December 12th. The Goldman Sachs Group increased their price target on shares of Warner Bros. Discovery from $9.50 to $10.75 and gave the company a “neutral” rating in a research report on Thursday, December 19th. Finally, KeyCorp boosted their price objective on shares of Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. Eleven analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Warner Bros. Discovery presently has a consensus rating of “Hold” and an average price target of $11.56.

Warner Bros. Discovery Stock Performance

Shares of WBD opened at $9.52 on Friday. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70. The business’s fifty day simple moving average is $10.37 and its two-hundred day simple moving average is $8.72. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. The company has a market cap of $23.35 billion, a price-to-earnings ratio of -2.08, a P/E/G ratio of 9.12 and a beta of 1.50.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.12. The company had revenue of $9.62 billion during the quarter, compared to the consensus estimate 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 revenue for the quarter was down 3.6% on a year-over-year basis. During the same period last year, the company earned ($0.17) EPS. Research analysts anticipate that Warner Bros. Discovery, Inc. will post -4.36 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.