Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lowered its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 3.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 496,858 shares of the company’s stock after selling 18,219 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Warner Bros. Discovery were worth $5,252,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. Golden State Equity Partners increased its stake in shares of Warner Bros. Discovery by 6.5% in the fourth quarter. Golden State Equity Partners now owns 16,124 shares of the company’s stock valued at $170,000 after purchasing an additional 986 shares during the period. Deseret Mutual Benefit Administrators increased its stake in shares of Warner Bros. Discovery by 12.0% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 9,925 shares of the company’s stock valued at $105,000 after purchasing an additional 1,066 shares during the period. Cornerstone Wealth Management LLC increased its stake in shares of Warner Bros. Discovery by 7.4% in the fourth quarter. Cornerstone Wealth Management LLC now owns 15,995 shares of the company’s stock valued at $169,000 after purchasing an additional 1,101 shares during the period. Avestar Capital LLC increased its stake in shares of Warner Bros. Discovery by 9.4% in the fourth quarter. Avestar Capital LLC now owns 14,337 shares of the company’s stock valued at $152,000 after purchasing an additional 1,228 shares during the period. Finally, Commerce Bank increased its stake in shares of Warner Bros. Discovery by 2.4% in the third quarter. Commerce Bank now owns 55,963 shares of the company’s stock valued at $462,000 after purchasing an additional 1,286 shares during the period. Institutional investors and hedge funds own 59.95% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on WBD shares. Barclays increased their price objective on shares of Warner Bros. Discovery from $10.00 to $12.00 and gave the company an “equal weight” rating in a report on Friday, February 28th. Bank of America restated a “buy” rating and issued a $14.00 price target on shares of Warner Bros. Discovery in a research report on Thursday, December 12th. Barrington Research reaffirmed an “outperform” rating and issued a $16.00 price target on shares of Warner Bros. Discovery in a report on Wednesday, March 5th. The Goldman Sachs Group upped their price target on Warner Bros. Discovery from $9.50 to $10.75 and gave the company a “neutral” rating in a report on Thursday, December 19th. Finally, KeyCorp upped their price target on Warner Bros. Discovery from $11.00 to $14.00 and gave the company an “overweight” rating in a report on Tuesday, December 10th. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $11.91.

Insider Activity

In other Warner Bros. Discovery news, insider Savalle Sims sold 169,436 shares of the business’s stock in a transaction on 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 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were bought at an average cost of $11.41 per share, with a total value of $197,917.86. Following the transaction, the director now directly owns 159,932 shares of the company’s stock, valued at $1,824,824.12. The trade was a 12.17 % increase in their position. The disclosure for this purchase can be found here. 1.80% of the stock is currently owned by corporate insiders.

Warner Bros. Discovery Trading Up 0.5 %

Warner Bros. Discovery stock opened at $10.42 on Thursday. The company’s fifty day simple moving average is $10.39 and its 200-day simple moving average is $9.44. 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 stock has a market cap of $25.58 billion, a P/E ratio of -2.28, a P/E/G ratio of 8.64 and a beta of 1.48.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of $0.10 by ($0.30). Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The company had revenue of $10.03 billion for the quarter, compared to analysts’ expectations of $10.16 billion. As a group, sell-side analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

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.