Patriot Financial Group Insurance Agency LLC Has $223,000 Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Patriot Financial Group Insurance Agency LLC trimmed its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 4.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 21,097 shares of the company’s stock after selling 1,078 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Warner Bros. Discovery were worth $223,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of WBD. State Street Corp grew its holdings in Warner Bros. Discovery by 4.1% during the 3rd quarter. State Street Corp now owns 151,285,963 shares of the company’s stock worth $1,248,109,000 after acquiring an additional 5,898,611 shares during the period. Sessa Capital IM L.P. boosted its position in shares of Warner Bros. Discovery by 24.7% in the 3rd quarter. Sessa Capital IM L.P. now owns 28,410,428 shares of the company’s stock worth $234,386,000 after purchasing an additional 5,625,545 shares during the last quarter. Drexel Morgan & Co. grew its stake in shares of Warner Bros. Discovery by 43.5% during the third quarter. Drexel Morgan & Co. now owns 6,600,463 shares of the company’s stock worth $54,454,000 after purchasing an additional 2,000,000 shares during the period. Clifford Capital Partners LLC bought a new stake in Warner Bros. Discovery in the second quarter valued at about $14,760,000. Finally, Private Management Group Inc. lifted its stake in Warner Bros. Discovery by 37.7% in the third quarter. Private Management Group Inc. now owns 6,886,143 shares of the company’s stock valued at $56,811,000 after buying an additional 1,886,868 shares during the period. 59.95% of the stock is owned by institutional investors.

Insider Transactions at Warner Bros. Discovery

In other news, insider Savalle Sims sold 169,436 shares of the business’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 transaction, the insider now directly owns 599,317 shares in the company, 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 Securities & Exchange Commission, which is available at this link. Company insiders own 1.80% of the company’s stock.

Warner Bros. Discovery Stock Up 1.8 %

Warner Bros. Discovery stock opened at $10.43 on Thursday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. Warner Bros. Discovery, Inc. has a 1-year low of $6.64 and a 1-year high of $12.70. The company has a fifty day simple moving average of $10.46 and a 200 day simple moving average of $8.89. The company has a market cap of $25.59 billion, a P/E ratio of -2.28, a price-to-earnings-growth ratio of 6.12 and a beta of 1.50.

Warner Bros. Discovery (NASDAQ:WBD) last released its earnings results on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.12. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The business had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.79 billion. During the same quarter in the previous year, the business earned ($0.17) earnings per share. Warner Bros. Discovery’s quarterly revenue was down 3.6% on a year-over-year basis. Research analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Moffett Nathanson upgraded Warner Bros. Discovery from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $9.00 to $13.00 in a research report on Tuesday, January 21st. The Goldman Sachs Group upped their target price on shares of Warner Bros. Discovery from $9.50 to $10.75 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Macquarie lifted their price target on shares of Warner Bros. Discovery from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Rosenblatt Securities upped their price objective on shares of Warner Bros. Discovery from $9.00 to $13.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Finally, Raymond James lifted their target price on Warner Bros. Discovery from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Warner Bros. Discovery currently has a consensus rating of “Moderate Buy” and an average price target of $11.76.

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.