Pine Valley Investments Ltd Liability Co Buys Shares of 2,254,008 Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Pine Valley Investments Ltd Liability Co bought a new stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 2,254,008 shares of the company’s stock, valued at approximately $23,825,000. Warner Bros. Discovery makes up approximately 1.4% of Pine Valley Investments Ltd Liability Co’s holdings, making the stock its 8th biggest holding. Pine Valley Investments Ltd Liability Co owned 0.09% of Warner Bros. Discovery as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. AMF Tjanstepension AB bought a new stake in shares of Warner Bros. Discovery during the 3rd quarter worth $1,031,000. Blue Trust Inc. raised its stake in Warner Bros. Discovery by 132.9% during the third quarter. Blue Trust Inc. now owns 15,449 shares of the company’s stock worth $127,000 after acquiring an additional 8,815 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in Warner Bros. Discovery by 1.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 107,240 shares of the company’s stock worth $885,000 after acquiring an additional 1,651 shares in the last quarter. Sequoia Financial Advisors LLC lifted its holdings in shares of Warner Bros. Discovery by 35.0% in the third quarter. Sequoia Financial Advisors LLC now owns 56,127 shares of the company’s stock worth $463,000 after acquiring an additional 14,548 shares during the last quarter. Finally, Signaturefd LLC boosted its stake in shares of Warner Bros. Discovery by 28.9% in the 3rd quarter. Signaturefd LLC now owns 21,604 shares of the company’s stock valued at $178,000 after purchasing an additional 4,849 shares in the last quarter. Institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Price Performance

Shares of NASDAQ WBD opened at $11.09 on Tuesday. The company has a market capitalization of $27.21 billion, a PE ratio of -2.42, a P/E/G ratio of 8.64 and a beta of 1.49. 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 twelve month low of $6.64 and a twelve month high of $12.70. The firm has a fifty day simple moving average of $10.32 and a 200 day simple moving average of $9.17.

Insiders Place Their Bets

In related news, insider Savalle Sims sold 169,436 shares of the 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 transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

WBD has been the subject of a number of research analyst reports. Bank of America reiterated a “buy” rating and set a $14.00 price objective on shares of Warner Bros. Discovery in a research report on Thursday, December 12th. KeyCorp upped their price target on shares of Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. Wolfe Research raised Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a report on Monday, November 11th. Macquarie boosted their price objective on Warner Bros. Discovery from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Finally, Guggenheim increased their target price on Warner Bros. Discovery from $11.00 to $12.50 and gave the company a “buy” rating in a research report on Thursday, December 12th. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $11.76.

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.