Michels Family Financial LLC Trims Holdings in Warner Bros. Discovery, Inc. $WBD

Michels Family Financial LLC decreased its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 4.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 44,843 shares of the company’s stock after selling 2,013 shares during the quarter. Michels Family Financial LLC’s holdings in Warner Bros. Discovery were worth $514,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. WPG Advisers LLC acquired a new stake in Warner Bros. Discovery during the 1st quarter valued at approximately $26,000. Financial Gravity Asset Management Inc. acquired a new stake in shares of Warner Bros. Discovery in the first quarter worth $27,000. North Capital Inc. purchased a new position in shares of Warner Bros. Discovery during the first quarter worth $28,000. Smallwood Wealth Investment Management LLC acquired a new position in Warner Bros. Discovery during the first quarter valued at $29,000. Finally, Golden State Wealth Management LLC boosted its holdings in Warner Bros. Discovery by 448.0% in the first quarter. Golden State Wealth Management LLC now owns 2,877 shares of the company’s stock valued at $31,000 after purchasing an additional 2,352 shares during the last quarter. Institutional investors and hedge funds own 59.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Morgan Stanley lifted their price objective on Warner Bros. Discovery from $13.00 to $15.00 and gave the company an “equal weight” rating in a research note on Thursday. KeyCorp reaffirmed a “sector weight” rating on shares of Warner Bros. Discovery in a report on Friday. Needham & Company LLC reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a report on Friday, September 12th. Cowen lowered Warner Bros. Discovery from a “buy” rating to a “hold” rating in a research report on Tuesday, September 16th. Finally, Guggenheim reiterated a “buy” rating on shares of Warner Bros. Discovery in a report on Tuesday, June 10th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and fifteen have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $14.07.

Warner Bros. Discovery Trading Down 1.4%

WBD opened at $19.51 on Friday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.04 and a current ratio of 1.04. Warner Bros. Discovery, Inc. has a one year low of $7.25 and a one year high of $20.24. The company has a market cap of $48.30 billion, a P/E ratio of 65.04, a PEG ratio of 2.54 and a beta of 1.59. The business’s 50-day simple moving average is $13.85 and its 200-day simple moving average is $11.23.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.79. Warner Bros. Discovery had a return on equity of 2.14% and a net margin of 2.00%.The firm had revenue of $9.81 billion during the quarter, compared to the consensus estimate of $9.73 billion. During the same period in the prior year, the company posted ($4.07) earnings per share. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. As a group, equities research analysts expect that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Insider Activity at Warner Bros. Discovery

In related news, insider Bruce Campbell sold 289,322 shares of Warner Bros. Discovery stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $16.48, for a total transaction of $4,768,026.56. Following the sale, the insider directly owned 402,464 shares in the company, valued at $6,632,606.72. This trade represents a 41.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Anton J. Levy purchased 250,000 shares of Warner Bros. Discovery stock in a transaction that occurred on Monday, August 11th. The stock was bought at an average cost of $10.90 per share, with a total value of $2,725,000.00. Following the completion of the transaction, the director owned 874,000 shares of the company’s stock, valued at $9,526,600. The trade was a 40.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 970,115 shares of company stock valued at $17,818,490 in the last ninety days. Insiders own 1.90% of the company’s stock.

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.