IPG Investment Advisors LLC Sells 109,010 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

IPG Investment Advisors LLC reduced its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 12.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 772,404 shares of the company’s stock after selling 109,010 shares during the quarter. Warner Bros. Discovery makes up approximately 1.9% of IPG Investment Advisors LLC’s holdings, making the stock its 16th biggest position. IPG Investment Advisors LLC’s holdings in Warner Bros. Discovery were worth $8,164,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WBD. Allianz SE acquired a new stake in shares of Warner Bros. Discovery in the fourth quarter valued at about $2,733,000. Allstate Corp acquired a new position in shares of Warner Bros. Discovery during the 4th quarter worth approximately $726,000. DnB Asset Management AS raised its stake in shares of Warner Bros. Discovery by 295.4% during the 4th quarter. DnB Asset Management AS now owns 1,519,337 shares of the company’s stock worth $16,059,000 after purchasing an additional 1,135,063 shares in the last quarter. Level Four Advisory Services LLC raised its stake in shares of Warner Bros. Discovery by 7.6% during the 4th quarter. Level Four Advisory Services LLC now owns 26,503 shares of the company’s stock worth $280,000 after purchasing an additional 1,866 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Warner Bros. Discovery in the fourth quarter valued at $362,210,000. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on WBD shares. JPMorgan Chase & Co. upped their price target on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 14th. The Goldman Sachs Group raised 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. Guggenheim upped their price objective 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. Citigroup lifted their target price on Warner Bros. Discovery from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. Finally, KeyCorp increased their price target on Warner Bros. Discovery from $11.00 to $14.00 and gave the company an “overweight” rating in a research note on Tuesday, December 10th. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $11.91.

Warner Bros. Discovery Trading Down 5.8 %

Shares of Warner Bros. Discovery stock opened at $10.37 on Friday. The firm’s 50-day moving average price is $10.52 and its two-hundred day moving average price is $9.70. The company has a market capitalization of $25.46 billion, a price-to-earnings ratio of -2.26, a PEG ratio of 8.64 and a beta of 1.48. 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.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $10.03 billion during the quarter, compared to the consensus estimate of $10.16 billion. On average, analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was acquired at an average cost of $11.41 per share, for a total transaction of $197,917.86. Following the transaction, the director now directly owns 159,932 shares in the company, valued at $1,824,824.12. This trade represents a 12.17 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.80% of the stock is owned by corporate insiders.

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.