Cutter & CO Brokerage Inc. Lowers Stock Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Cutter & CO Brokerage Inc. lowered its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 8.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,218 shares of the company’s stock after selling 2,228 shares during the quarter. Cutter & CO Brokerage Inc.’s holdings in Warner Bros. Discovery were worth $245,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Golden State Equity Partners boosted its position in Warner Bros. Discovery by 6.5% during the fourth quarter. Golden State Equity Partners now owns 16,124 shares of the company’s stock worth $170,000 after purchasing an additional 986 shares in the last quarter. Deseret Mutual Benefit Administrators raised its holdings in shares of Warner Bros. Discovery by 12.0% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 9,925 shares of the company’s stock valued at $105,000 after acquiring an additional 1,066 shares during the last quarter. Cornerstone Wealth Management LLC raised its holdings in shares of Warner Bros. Discovery by 7.4% during the fourth 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 last quarter. Avestar Capital LLC raised its holdings in shares of Warner Bros. Discovery by 9.4% during the fourth quarter. Avestar Capital LLC now owns 14,337 shares of the company’s stock valued at $152,000 after acquiring an additional 1,228 shares during the last quarter. Finally, Commerce Bank raised its holdings in shares of 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 last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Wall Street Analysts Forecast Growth

WBD has been the subject of a number of research analyst reports. Bank of America reissued a “buy” rating and set a $14.00 target price on shares of Warner Bros. Discovery in a report on Thursday, December 12th. Macquarie increased their target price on Warner Bros. Discovery from $8.00 to $9.00 and gave the company a “neutral” rating in a report on Friday, November 8th. JPMorgan Chase & Co. increased their target price on Warner Bros. Discovery from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Tuesday, January 14th. Rosenblatt Securities increased their target price on Warner Bros. Discovery from $9.00 to $13.00 and gave the company a “neutral” rating in a report on Friday, December 13th. Finally, Guggenheim increased their price target on Warner Bros. Discovery from $11.00 to $12.50 and gave the company a “buy” rating in a report on Thursday, December 12th. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Warner Bros. Discovery has an average rating of “Moderate Buy” and a consensus target price of $11.76.

Insider Buying and Selling

In related news, insider Savalle Sims sold 169,436 shares of the business’s stock in a transaction on 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 directly owns 599,317 shares of the company’s stock, valued at $7,407,558.12. The trade was a 22.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.80% of the stock is currently owned by insiders.

Warner Bros. Discovery Trading Down 3.6 %

WBD opened at $10.69 on Wednesday. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70. The stock has a market capitalization of $26.22 billion, a price-to-earnings ratio of -2.33, a PEG ratio of 8.64 and a beta of 1.49. 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 business has a fifty day moving average price of $10.31 and a 200 day moving average price of $9.19.

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.