Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by GAM Holding AG

GAM Holding AG cut its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 2.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 446,648 shares of the company’s stock after selling 11,037 shares during the period. GAM Holding AG’s holdings in Warner Bros. Discovery were worth $4,721,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. CIBC Asset Management Inc boosted its position in Warner Bros. Discovery by 3.6% during the 4th quarter. CIBC Asset Management Inc now owns 761,209 shares of the company’s stock worth $8,046,000 after acquiring an additional 26,184 shares during the period. Mathes Company Inc. increased its holdings in shares of Warner Bros. Discovery by 32.6% during the fourth quarter. Mathes Company Inc. now owns 35,441 shares of the company’s stock valued at $375,000 after purchasing an additional 8,713 shares during the period. Everhart Financial Group Inc. raised its stake in shares of Warner Bros. Discovery by 32.3% during the fourth quarter. Everhart Financial Group Inc. now owns 31,378 shares of the company’s stock valued at $332,000 after purchasing an additional 7,663 shares in the last quarter. Valeo Financial Advisors LLC acquired a new stake in Warner Bros. Discovery in the fourth quarter worth about $239,000. Finally, Asset Management One Co. Ltd. grew its position in Warner Bros. Discovery by 0.8% in the 4th quarter. Asset Management One Co. Ltd. now owns 927,027 shares of the company’s stock valued at $9,836,000 after buying an additional 7,416 shares in the last quarter. 59.95% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on WBD shares. Raymond James boosted their price target on shares of Warner Bros. Discovery from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. The Goldman Sachs Group upped their target price 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. Guggenheim increased their price target on Warner Bros. Discovery from $11.00 to $12.50 and gave the company a “buy” rating in a research note on Thursday, December 12th. Moffett Nathanson upgraded Warner Bros. Discovery from a “neutral” rating to a “buy” rating and upped their price objective for the company from $9.00 to $13.00 in a report on Tuesday, January 21st. Finally, Barrington Research reaffirmed an “outperform” rating and set a $16.00 target price on shares of Warner Bros. Discovery in a report on Friday, December 13th. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $11.76.

Warner Bros. Discovery Price Performance

Shares of NASDAQ:WBD opened at $10.34 on Tuesday. The company’s fifty day moving average is $10.39 and its two-hundred day moving average is $9.06. The company has a market cap of $25.37 billion, a P/E ratio of -2.26, a price-to-earnings-growth ratio of 7.98 and a beta of 1.49. Warner Bros. Discovery, Inc. has a 12-month low of $6.64 and a 12-month high of $12.70. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03.

Insider Activity

In other news, insider Savalle Sims sold 169,436 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $12.36, for a total value of $2,094,228.96. Following the completion of the sale, the insider now directly owns 599,317 shares of the company’s stock, valued at $7,407,558.12. This represents a 22.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.80% of the stock is currently 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.