CM Management LLC Sells 105,000 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

CM Management LLC lessened its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 60.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 70,000 shares of the company’s stock after selling 105,000 shares during the period. CM Management LLC’s holdings in Warner Bros. Discovery were worth $740,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Stonebridge Financial Group LLC acquired a new stake in Warner Bros. Discovery in the 4th quarter worth approximately $26,000. SRS Capital Advisors Inc. lifted its position in Warner Bros. Discovery by 313.4% during the 4th quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company’s stock worth $27,000 after acquiring an additional 1,940 shares during the last quarter. Ethos Financial Group LLC acquired a new position in Warner Bros. Discovery during the 4th quarter worth $29,000. Sugar Maple Asset Management LLC bought a new stake in Warner Bros. Discovery during the fourth quarter valued at about $33,000. Finally, New Wave Wealth Advisors LLC acquired a new stake in shares of Warner Bros. Discovery in the fourth quarter valued at about $37,000. Institutional investors and hedge funds own 59.95% of the company’s stock.

Insider Buying and Selling

In other Warner Bros. Discovery news, insider Savalle Sims sold 169,436 shares of Warner Bros. Discovery stock in a transaction on 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 completion of the transaction, the insider now owns 599,317 shares in the company, valued at approximately $7,407,558.12. The trade was a 22.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Piazza Samuel A. Jr. Di bought 17,346 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were acquired at an average price of $11.41 per share, for a total transaction of $197,917.86. Following the acquisition, the director now directly owns 159,932 shares of the company’s stock, valued at approximately $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.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Bank of America reissued a “buy” rating and set a $14.00 price objective on shares of Warner Bros. Discovery in a research report on Thursday, December 12th. Needham & Company LLC reissued a “hold” rating on shares of Warner Bros. Discovery in a research report on Friday, February 28th. Citigroup raised their price objective on shares of Warner Bros. Discovery from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday. Moffett Nathanson upgraded shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and upped their target price for the company from $9.00 to $13.00 in a research note on Tuesday, January 21st. Finally, The Goldman Sachs Group raised their price target on shares of Warner Bros. Discovery from $9.50 to $10.75 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Warner Bros. Discovery presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.91.

Warner Bros. Discovery Price Performance

Warner Bros. Discovery stock opened at $11.07 on Friday. The business has a 50 day simple moving average of $10.39 and a 200 day simple moving average of $9.38. 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 company has a market capitalization of $27.16 billion, a PE ratio of -2.42, a price-to-earnings-growth ratio of 8.64 and a beta of 1.48. Warner Bros. Discovery, Inc. has a one year low of $6.64 and a one year high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.30). Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The company had revenue of $10.03 billion for the quarter, compared to analyst estimates of $10.16 billion. On average, sell-side analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 EPS 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.