Good Life Advisors LLC Increases Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Good Life Advisors LLC lifted its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 19.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,952 shares of the company’s stock after purchasing an additional 1,930 shares during the quarter. Good Life Advisors LLC’s holdings in Warner Bros. Discovery were worth $126,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of WBD. Stonebridge Financial Group LLC purchased a new position in shares of Warner Bros. Discovery in the 4th quarter valued at approximately $26,000. Sugar Maple Asset Management LLC purchased a new position in shares of Warner Bros. Discovery in the 4th quarter valued at approximately $33,000. New Wave Wealth Advisors LLC purchased a new position in shares of Warner Bros. Discovery in the 4th quarter valued at approximately $37,000. Larson Financial Group LLC raised its position in shares of Warner Bros. Discovery by 54.1% in the 3rd quarter. Larson Financial Group LLC now owns 4,998 shares of the company’s stock valued at $41,000 after purchasing an additional 1,754 shares during the last quarter. Finally, Rosenberg Matthew Hamilton raised its position in shares of Warner Bros. Discovery by 448.3% in the 4th quarter. Rosenberg Matthew Hamilton now owns 4,578 shares of the company’s stock valued at $48,000 after purchasing an additional 3,743 shares during the last quarter. 59.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Warner Bros. Discovery

In related news, insider Savalle Sims sold 169,436 shares of Warner Bros. Discovery stock in a transaction on Friday, December 13th. The shares were sold at an average price of $12.36, for a total value of $2,094,228.96. Following the sale, the insider now owns 599,317 shares of the company’s stock, valued at approximately $7,407,558.12. This trade represents a 22.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.80% of the stock is owned by corporate insiders.

Warner Bros. Discovery Price Performance

Warner Bros. Discovery stock opened at $10.78 on Friday. The company’s fifty day moving average price is $10.33 and its 200 day moving average price is $9.12. Warner Bros. Discovery, Inc. has a 1 year low of $6.64 and a 1 year high of $12.70. The stock has a market capitalization of $26.45 billion, a P/E ratio of -2.35, a P/E/G ratio of 8.52 and a beta of 1.49. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Wolfe Research raised shares of Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research report on Monday, November 11th. Macquarie raised 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 raised their price target on shares of Warner Bros. Discovery from $9.00 to $13.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. The Goldman Sachs Group raised their price target on shares of Warner Bros. Discovery from $9.50 to $10.75 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Finally, Raymond James raised their price target on shares of Warner Bros. Discovery from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.