Sendero Wealth Management LLC Increases Stock Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Sendero Wealth Management LLC grew its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 7.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 401,208 shares of the company’s stock after purchasing an additional 28,362 shares during the period. Sendero Wealth Management LLC’s holdings in Warner Bros. Discovery were worth $4,305,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in WBD. Colonial Trust Advisors raised its position in Warner Bros. Discovery by 71.8% in the 4th quarter. Colonial Trust Advisors now owns 2,383 shares of the company’s stock valued at $25,000 after purchasing an additional 996 shares in the last quarter. Stonebridge Financial Group LLC acquired a new stake in shares of Warner Bros. Discovery in the 4th quarter valued at about $26,000. SRS Capital Advisors Inc. grew its position in shares of Warner Bros. Discovery by 313.4% during the fourth quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company’s stock worth $27,000 after acquiring an additional 1,940 shares during the last quarter. Graney & King LLC purchased a new stake in shares of Warner Bros. Discovery in the fourth quarter valued at about $28,000. Finally, Ethos Financial Group LLC acquired a new stake in shares of Warner Bros. Discovery during the fourth quarter worth about $29,000. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Warner Bros. Discovery Trading Down 0.6%

Shares of WBD stock opened at $9.94 on Wednesday. The firm’s 50 day moving average price is $8.90 and its two-hundred day moving average price is $9.94. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.64 and a fifty-two week high of $12.70. The stock has a market cap of $24.40 billion, a price-to-earnings ratio of -2.17, a price-to-earnings-growth ratio of 8.64 and a beta of 1.46.

Warner Bros. Discovery (NASDAQ:WBD) last announced its earnings results on Thursday, May 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.06). Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The business had revenue of $8.98 billion for the quarter, compared to analysts’ expectations of $9.66 billion. During the same period in the previous year, the firm posted ($0.40) earnings per share. The firm’s revenue was down 9.8% compared to the same quarter last year. On average, analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on WBD. KeyCorp lowered their price objective on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an “overweight” rating on the stock in a research report on Monday, April 14th. Barclays increased their target price on shares of Warner Bros. Discovery from $7.00 to $9.00 and gave the company an “equal weight” rating in a report on Friday, May 9th. Citigroup decreased their price objective on shares of Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday, May 29th. Raymond James cut their price objective on Warner Bros. Discovery from $14.00 to $13.00 and set an “outperform” rating for the company in a research report on Friday, April 4th. Finally, Wells Fargo & Company raised their price target on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the stock an “equal weight” rating in a research note on Friday, May 9th. Eleven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Warner Bros. Discovery has a consensus rating of “Moderate Buy” and a consensus price target of $12.17.

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.