Bartlett & Co. LLC Sells 3,497 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Posted by on Mar 18th, 2023

Bartlett & Co. LLC decreased its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD – Get Rating) by 11.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 25,932 shares of the company’s stock after selling 3,497 shares during the quarter. Bartlett & Co. LLC’s holdings in Warner Bros. Discovery were worth $246,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. bought a new position in shares of Warner Bros. Discovery during the 3rd quarter worth about $2,026,804,000. BlackRock Inc. bought a new stake in Warner Bros. Discovery in the third quarter valued at about $1,863,279,000. State Street Corp bought a new stake in Warner Bros. Discovery in the third quarter valued at about $1,213,212,000. Baupost Group LLC MA bought a new stake in Warner Bros. Discovery in the third quarter valued at about $333,500,000. Finally, Dimensional Fund Advisors LP bought a new stake in Warner Bros. Discovery in the third quarter valued at about $192,308,000. Institutional investors own 55.18% of the company’s stock.

Warner Bros. Discovery Trading Up 1.3 %

Shares of NASDAQ WBD opened at $14.34 on Friday. The company’s 50 day simple moving average is $14.46 and its 200 day simple moving average is $12.56. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a market capitalization of $34.85 billion, a P/E ratio of -5.47, a P/E/G ratio of 0.97 and a beta of 1.50. Warner Bros. Discovery, Inc. has a fifty-two week low of $8.82 and a fifty-two week high of $27.50.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Guggenheim raised shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and set a $16.50 target price on the stock in a research note on Wednesday, January 11th. Wolfe Research raised shares of Warner Bros. Discovery from a “peer perform” rating to an “outperform” rating and set a $20.00 target price on the stock in a research note on Friday. Macquarie upped their target price on shares of Warner Bros. Discovery from $16.00 to $20.00 and gave the company an “outperform” rating in a research note on Tuesday, January 31st. Morgan Stanley upped their target price on shares of Warner Bros. Discovery from $14.00 to $17.00 and gave the company an “equal weight” rating in a research note on Monday, January 30th. Finally, Wells Fargo & Company raised shares of Warner Bros. Discovery from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $13.00 to $20.00 in a research note on Friday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, Warner Bros. Discovery has a consensus rating of “Moderate Buy” and an average price target of $22.31.

About Warner Bros. Discovery

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Warner Bros. Discovery, Inc operates as a media and entertainment company. It creates and distributes a portfolio of content and brands across television, film, and streaming. Its brands and products include Discovery Channel, discovery+, CNN, CNN+, DC, Eurosport, HBO, HBO Max, HGTV, Food Network, Investigation Discovery, TLC, TNT, TBS, truTV, Travel Channel, MotorTrend, Animal Planet, Science Channel, Warner Bros.

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Institutional Ownership by Quarter for Warner Bros. Discovery (NASDAQ:WBD)

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