Summit Place Financial Advisors LLC Acquires 23,925 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Summit Place Financial Advisors LLC increased its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 39.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 85,153 shares of the company’s stock after purchasing an additional 23,925 shares during the quarter. Summit Place Financial Advisors LLC’s holdings in Warner Bros. Discovery were worth $900,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Stonebridge Financial Group LLC bought a new position in Warner Bros. Discovery in the fourth quarter worth approximately $26,000. Sugar Maple Asset Management LLC bought a new position in Warner Bros. Discovery in the fourth quarter worth approximately $33,000. New Wave Wealth Advisors LLC bought a new position in Warner Bros. Discovery in the fourth quarter worth approximately $37,000. Rosenberg Matthew Hamilton raised its stake in Warner Bros. Discovery by 448.3% in the fourth quarter. Rosenberg Matthew Hamilton now owns 4,578 shares of the company’s stock worth $48,000 after buying an additional 3,743 shares in the last quarter. Finally, Larson Financial Group LLC grew its holdings in Warner Bros. Discovery by 54.1% in the third quarter. Larson Financial Group LLC now owns 4,998 shares of the company’s stock worth $41,000 after purchasing an additional 1,754 shares during the last quarter. Institutional investors own 59.95% of the company’s stock.

Insiders Place Their Bets

In other news, insider Savalle Sims sold 169,436 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 599,317 shares in the company, valued at $7,407,558.12. This trade represents a 22.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.80% of the company’s stock.

Warner Bros. Discovery Stock Up 2.7 %

WBD opened at $10.62 on Wednesday. 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’s 50 day simple moving average is $10.39 and its two-hundred day simple moving average is $9.06. Warner Bros. Discovery, Inc. has a 1-year low of $6.64 and a 1-year high of $12.70.

Wall Street Analyst Weigh In

Several research firms have issued reports on WBD. Barclays lifted their price target on shares of Warner Bros. Discovery from $8.00 to $10.00 and gave the stock an “equal weight” rating in a report on Friday, November 8th. 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 report on Friday, November 8th. Moffett Nathanson raised shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $9.00 to $13.00 in a report on Tuesday, January 21st. Bank of America reissued a “buy” rating and set a $14.00 price objective on shares of Warner Bros. Discovery in a report on Thursday, December 12th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Tuesday, January 14th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus 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.