Concurrent Investment Advisors LLC Trims Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Concurrent Investment Advisors LLC trimmed its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 11.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,646 shares of the company’s stock after selling 3,172 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Warner Bros. Discovery were worth $271,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in WBD. Golden State Equity Partners raised its stake in Warner Bros. Discovery by 6.5% in the fourth quarter. Golden State Equity Partners now owns 16,124 shares of the company’s stock worth $170,000 after buying an additional 986 shares in the last quarter. Cornerstone Wealth Management LLC increased its holdings in shares of Warner Bros. Discovery by 7.4% in the 4th quarter. Cornerstone Wealth Management LLC now owns 15,995 shares of the company’s stock valued at $169,000 after acquiring an additional 1,101 shares during the period. Avestar Capital LLC raised its position in shares of Warner Bros. Discovery by 9.4% in the 4th quarter. Avestar Capital LLC now owns 14,337 shares of the company’s stock worth $152,000 after acquiring an additional 1,228 shares in the last quarter. Commerce Bank lifted its stake in shares of Warner Bros. Discovery by 2.4% during the 3rd quarter. Commerce Bank now owns 55,963 shares of the company’s stock worth $462,000 after purchasing an additional 1,286 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its position in 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 valued at $1,939,000 after purchasing an additional 1,387 shares in the last quarter. 59.95% of the stock is owned by hedge funds and other institutional investors.

Warner Bros. Discovery Trading Down 3.6 %

Shares of NASDAQ:WBD opened at $10.69 on Wednesday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. The company’s 50-day moving average price is $10.31 and its 200 day moving average price is $9.19. The company has a market cap of $26.22 billion, a PE ratio of -2.33, a P/E/G ratio of 8.64 and a beta of 1.49. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.64 and a fifty-two week high of $12.70.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on WBD shares. JPMorgan Chase & Co. raised their price target on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Tuesday, January 14th. Guggenheim raised their target price on shares of Warner Bros. Discovery from $11.00 to $12.50 and gave the company a “buy” rating in a research note on Thursday, December 12th. KeyCorp upped their price target on Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. The Goldman Sachs Group raised their price objective on Warner Bros. Discovery from $9.50 to $10.75 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $16.00 target price on shares of Warner Bros. Discovery in a research report on Friday, December 13th. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $11.76.

Insider Buying and Selling at Warner Bros. Discovery

In other news, insider Savalle Sims sold 169,436 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were 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 trade represents a 22.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 1.80% of the stock is owned by corporate insiders.

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.