Advisory Alpha LLC Lowers Position in Warner Bros. Discovery, Inc. $WBD

Advisory Alpha LLC trimmed its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 15.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,163 shares of the company’s stock after selling 2,233 shares during the quarter. Advisory Alpha LLC’s holdings in Warner Bros. Discovery were worth $139,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of WBD. WPG Advisers LLC purchased a new position in Warner Bros. Discovery during the 1st quarter valued at about $26,000. Financial Gravity Asset Management Inc. purchased a new position in Warner Bros. Discovery during the 1st quarter valued at about $27,000. North Capital Inc. purchased a new position in Warner Bros. Discovery during the 1st quarter valued at about $28,000. Golden State Wealth Management LLC boosted its holdings in Warner Bros. Discovery by 448.0% during the 1st quarter. Golden State Wealth Management LLC now owns 2,877 shares of the company’s stock valued at $31,000 after acquiring an additional 2,352 shares during the period. Finally, Trifecta Capital Advisors LLC purchased a new position in Warner Bros. Discovery during the 2nd quarter valued at about $34,000. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. TD Cowen restated a “hold” rating and set a $14.00 target price on shares of Warner Bros. Discovery in a report on Tuesday, September 16th. KeyCorp restated a “sector weight” rating on shares of Warner Bros. Discovery in a report on Friday, September 26th. Barrington Research increased their price target on Warner Bros. Discovery from $16.00 to $25.00 and gave the company an “outperform” rating in a research report on Tuesday. Weiss Ratings raised Warner Bros. Discovery from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, October 8th. Finally, Wells Fargo & Company increased their price target on Warner Bros. Discovery from $14.00 to $21.00 and gave the company an “equal weight” rating in a research report on Thursday, October 16th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and fifteen have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.91.

Insider Transactions at Warner Bros. Discovery

In other news, CFO Gunnar Wiedenfels sold 530,793 shares of the firm’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $19.50, for a total transaction of $10,350,463.50. Following the sale, the chief financial officer owned 1,141,150 shares of the company’s stock, valued at approximately $22,252,425. This trade represents a 31.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bruce Campbell sold 150,000 shares of the firm’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $18.00, for a total value of $2,700,000.00. Following the sale, the insider directly owned 252,464 shares in the company, valued at $4,544,352. This trade represents a 37.27% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 970,115 shares of company stock valued at $17,818,490. Corporate insiders own 1.90% of the company’s stock.

Warner Bros. Discovery Price Performance

Shares of NASDAQ WBD opened at $21.62 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 fifty-two week low of $7.52 and a fifty-two week high of $21.84. The firm has a market capitalization of $53.53 billion, a PE ratio of 72.07, a price-to-earnings-growth ratio of 2.56 and a beta of 1.73. The stock’s 50-day simple moving average is $17.17 and its 200-day simple moving average is $12.82.

Warner Bros. Discovery (NASDAQ:WBD) last issued its earnings results on Thursday, August 7th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $9.81 billion for the quarter, compared to analyst estimates of $9.73 billion. During the same quarter last year, the company earned ($4.07) EPS. The business’s quarterly revenue was up 1.0% on a year-over-year basis. As a group, equities research analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

About Warner Bros. Discovery

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.