Algert Global LLC Reduces Position in Warner Bros. Discovery, Inc.
**Summary**: Algert Global LLC decreased its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 43.2% during the 3rd quarter, selling 14,385 shares. The fund owned 18,915 shares of the company's stock, valued at $205,000. Other hedge funds also made adjustments to their holdings of the company.
Summary: Algert Global LLC decreased its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 43.2% during the 3rd quarter, selling 14,385 shares. The fund owned 18,915 shares of the company's stock, valued at $205,000. Other hedge funds also made adjustments to their holdings of the company.
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Wall Street Analysts Weigh In
Wall Street analysts have been closely watching Warner Bros. Discovery. Several have issued ratings and price targets for the company. Raymond James, Macquarie, Rosenblatt Securities, and Citigroup have all made adjustments to their price targets. Benchmark reaffirmed a "buy" rating with a price target of $24.00. In total, one analyst has rated the stock as a sell, seven as hold, and ten as buy, with a consensus rating of "Moderate Buy."
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Insider Buying and Selling at Warner Bros. Discovery
In recent news, Director Programming P. Advance/Newhouse sold 10,000,000 shares of the company's stock. This transaction took place on Thursday, December 14th, with shares sold at an average price of $12.49, totaling $124,900,000. Following this, the director now holds 184,023,290 shares of the company's stock. Insider transactions like these provide insight into the company's internal workings.
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Warner Bros. Discovery Stock Performance
Warner Bros. Discovery's stock saw a 1.4% decrease, opening at $8.67 on Monday. The company has a market cap of $21.15 billion, with a PE ratio of -6.77 and a beta of 1.51. Warner Bros. Discovery has a twelve-month low of $8.25 and a high of $15.85. The company's recent earnings report showed a negative net margin and a negative return on equity, impacting the stock's performance.
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Earnings Report and Company Profile
Warner Bros. Discovery recently reported ($0.16) earnings per share for the quarter, missing estimates by ($0.05). The company's revenue was slightly lower than analyst estimates, with a negative net margin and return on equity. Warner Bros. Discovery operates as a media and entertainment company globally, with segments focusing on Studios, Network, and DTC. The company produces feature films, television programs, and offers streaming services.
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Conclusion
As Warner Bros. Discovery continues to navigate the media and entertainment industry, investors and analysts remain closely monitoring the company's performance. With recent changes in share ownership, insider transactions, and stock performance, the future outlook for Warner Bros. Discovery remains a topic of interest for market participants.
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