Lee Danner & Bass Inc. Sells 7,722 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Lee Danner & Bass Inc. trimmed its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 17.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,962 shares of the company’s stock after selling 7,722 shares during the period. Lee Danner & Bass Inc.’s holdings in Warner Bros. Discovery were worth $391,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Stonebridge Financial Group LLC bought a new stake in shares of Warner Bros. Discovery during the 4th quarter valued at $26,000. SRS Capital Advisors Inc. grew 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 purchasing an additional 1,940 shares during the last quarter. Ethos Financial Group LLC purchased a new stake in Warner Bros. Discovery during the 4th quarter worth approximately $29,000. Briaud Financial Planning Inc grew its position in Warner Bros. Discovery by 258.1% during the 4th quarter. Briaud Financial Planning Inc now owns 2,775 shares of the company’s stock worth $29,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Sugar Maple Asset Management LLC purchased a new stake in Warner Bros. Discovery during the 4th quarter worth approximately $33,000. 59.95% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on WBD shares. JPMorgan Chase & Co. upped 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. Guggenheim upped their price objective on shares of Warner Bros. Discovery from $11.00 to $12.50 and gave the company a “buy” rating in a report on Thursday, December 12th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $13.00 price objective on shares of Warner Bros. Discovery in a report on Friday, March 7th. Bank of America reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Warner Bros. Discovery in a report on Thursday, December 12th. Finally, Barclays upped their price objective on shares of Warner Bros. Discovery from $10.00 to $12.00 and gave the company an “equal weight” rating in a report on Friday, February 28th. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $11.91.

Warner Bros. Discovery Stock Performance

NASDAQ:WBD opened at $10.74 on Friday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. The company has a fifty day moving average of $10.40 and a two-hundred day moving average of $9.56. The stock has a market capitalization of $26.36 billion, a PE ratio of -2.34, a P/E/G ratio of 8.64 and a beta of 1.48. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.64 and a fifty-two week high of $12.70.

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

Insiders Place Their Bets

In other Warner Bros. Discovery news, Director Piazza Samuel A. Jr. Di bought 17,346 shares of Warner Bros. Discovery stock in a transaction dated 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 completion of the transaction, the director now directly owns 159,932 shares of the company’s stock, valued at approximately $1,824,824.12. This represents a 12.17 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.80% of the stock is currently owned by company insiders.

Warner Bros. Discovery 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.