Warner Bros. Discovery, Inc. $WBD Position Decreased by ProShare Advisors LLC

ProShare Advisors LLC reduced its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 16.8% during the third quarter, Holdings Channel reports. The firm owned 3,131,958 shares of the company’s stock after selling 634,650 shares during the period. ProShare Advisors LLC’s holdings in Warner Bros. Discovery were worth $61,167,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Concord Wealth Partners increased its holdings in shares of Warner Bros. Discovery by 49.9% in the third quarter. Concord Wealth Partners now owns 1,321 shares of the company’s stock valued at $26,000 after buying an additional 440 shares in the last quarter. Physician Wealth Advisors Inc. boosted its stake in shares of Warner Bros. Discovery by 152.1% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 1,404 shares of the company’s stock worth $27,000 after acquiring an additional 847 shares in the last quarter. Grove Bank & Trust grew its holdings in shares of Warner Bros. Discovery by 66.5% in the 3rd quarter. Grove Bank & Trust now owns 1,690 shares of the company’s stock worth $33,000 after acquiring an additional 675 shares during the last quarter. Crews Bank & Trust raised its position in shares of Warner Bros. Discovery by 1,242.2% during the third quarter. Crews Bank & Trust now owns 1,718 shares of the company’s stock worth $34,000 after purchasing an additional 1,590 shares during the period. Finally, Meeder Asset Management Inc. lifted its holdings in shares of Warner Bros. Discovery by 183.9% during the third quarter. Meeder Asset Management Inc. now owns 1,891 shares of the company’s stock valued at $37,000 after purchasing an additional 1,225 shares during the last quarter. 59.95% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Benchmark lifted their price target on Warner Bros. Discovery from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Thursday, January 15th. Wells Fargo & Company raised their target price on shares of Warner Bros. Discovery from $21.00 to $25.00 and gave the stock an “equal weight” rating in a report on Friday, November 7th. TD Cowen boosted their price target on shares of Warner Bros. Discovery from $14.00 to $22.00 in a report on Friday, November 7th. Rothschild & Co Redburn set a $28.00 price target on shares of Warner Bros. Discovery in a research report on Thursday, October 30th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $29.50 price objective on shares of Warner Bros. Discovery in a research report on Monday, December 8th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Warner Bros. Discovery presently has an average rating of “Moderate Buy” and a consensus price target of $24.94.

Insider Buying and Selling

In related news, CAO Lori C. Locke sold 4,122 shares of the stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $28.92, for a total transaction of $119,208.24. Following the completion of the sale, the chief accounting officer directly owned 100,962 shares in the company, valued at approximately $2,919,821.04. This trade represents a 3.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Gunnar Wiedenfels sold 242,994 shares of the business’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $29.50, for a total value of $7,168,323.00. Following the completion of the transaction, the chief financial officer owned 918,940 shares in the company, valued at $27,108,730. This trade represents a 20.91% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 267,116 shares of company stock valued at $7,781,731. Insiders own 1.80% of the company’s stock.

Warner Bros. Discovery Price Performance

NASDAQ WBD opened at $27.21 on Tuesday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a market capitalization of $67.43 billion, a price-to-earnings ratio of 143.22 and a beta of 1.64. The company has a 50 day simple moving average of $28.12 and a 200-day simple moving average of $21.23. Warner Bros. Discovery, Inc. has a 52-week low of $7.52 and a 52-week high of $30.00.

Warner Bros. Discovery Company Profile

Warner Bros. Discovery (NASDAQ: WBD) is a global media and entertainment company formed when WarnerMedia and Discovery, Inc combined their businesses in 2022. Headquartered in New York City, the company assembles a broad portfolio of film and television production, linear and cable networks, streaming services and consumer distribution operations. Its assets span well-known studio brands, premium scripted and unscripted programming, news and factual entertainment, and licensed franchise properties.

The company’s core activities include film and television production and distribution through units such as Warner Bros.