International Assets Investment Management LLC Sells 160,267 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

International Assets Investment Management LLC lowered its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 84.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,972 shares of the company’s stock after selling 160,267 shares during the quarter. International Assets Investment Management LLC’s holdings in Warner Bros. Discovery were worth $309,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in WBD. State Street Corp boosted its position in Warner Bros. Discovery by 4.1% during the third quarter. State Street Corp now owns 151,285,963 shares of the company’s stock worth $1,248,109,000 after purchasing an additional 5,898,611 shares during the period. Sessa Capital IM L.P. boosted its position in shares of Warner Bros. Discovery by 24.7% in the third quarter. Sessa Capital IM L.P. now owns 28,410,428 shares of the company’s stock valued at $234,386,000 after acquiring an additional 5,625,545 shares during the period. Mackenzie Financial Corp boosted its position in shares of Warner Bros. Discovery by 1,216.7% in the second quarter. Mackenzie Financial Corp now owns 3,009,558 shares of the company’s stock valued at $22,391,000 after acquiring an additional 2,780,986 shares during the period. Drexel Morgan & Co. boosted its position in shares of Warner Bros. Discovery by 43.5% in the third quarter. Drexel Morgan & Co. now owns 6,600,463 shares of the company’s stock valued at $54,454,000 after acquiring an additional 2,000,000 shares during the period. Finally, Clifford Capital Partners LLC bought a new stake in shares of Warner Bros. Discovery in the second quarter valued at approximately $14,760,000. Institutional investors own 59.95% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on WBD shares. Guggenheim increased their price objective on Warner Bros. Discovery from $11.00 to $12.50 and gave the company a “buy” rating in a research report on Thursday, December 12th. KeyCorp increased their price objective on Warner Bros. Discovery from $11.00 to $14.00 and gave the company an “overweight” rating in a research report on Tuesday, December 10th. Barrington Research reissued an “outperform” rating and issued a $16.00 price objective on shares of Warner Bros. Discovery in a research report on Friday, December 13th. Rosenblatt Securities increased their price objective on Warner Bros. Discovery from $9.00 to $13.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Finally, Wolfe Research upgraded Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research note on Monday, November 11th. Eleven analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $11.46.

Insider Activity

In other news, insider Savalle Sims sold 169,436 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $12.36, for a total value of $2,094,228.96. Following the completion of the sale, the insider now directly owns 599,317 shares in the company, valued at approximately $7,407,558.12. This trade represents a 22.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 1.80% of the stock is currently owned by corporate insiders.

Warner Bros. Discovery Stock Performance

Warner Bros. Discovery stock opened at $9.70 on Monday. Warner Bros. Discovery, Inc. has a 52-week low of $6.64 and a 52-week high of $12.70. The firm has a market capitalization of $23.80 billion, a P/E ratio of -2.12 and a beta of 1.52. 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 stock has a fifty day moving average price of $10.26 and a two-hundred day moving average price of $8.64.

Warner Bros. Discovery (NASDAQ:WBD) last announced its earnings results on Thursday, November 7th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.12. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The company had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.79 billion. During the same period last year, the company posted ($0.17) earnings per share. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year. As a group, analysts anticipate that Warner Bros. Discovery, Inc. will post -4.37 EPS for the current fiscal year.

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.