Wealth Enhancement Advisory Services LLC Reduces Position in Warner Bros. Discovery, Inc. $WBD

Wealth Enhancement Advisory Services LLC trimmed its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 28.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 145,914 shares of the company’s stock after selling 58,548 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Warner Bros. Discovery were worth $2,714,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WBD. TriaGen Wealth Management LLC purchased a new position in shares of Warner Bros. Discovery during the 3rd quarter worth $443,000. Penserra Capital Management LLC increased its position in Warner Bros. Discovery by 29,882.6% during the second quarter. Penserra Capital Management LLC now owns 62,064 shares of the company’s stock worth $710,000 after purchasing an additional 61,857 shares during the last quarter. Country Club Bank raised its stake in Warner Bros. Discovery by 54.3% during the second quarter. Country Club Bank now owns 502,878 shares of the company’s stock worth $5,683,000 after purchasing an additional 176,994 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Warner Bros. Discovery by 7.4% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 19,463,234 shares of the company’s stock valued at $223,049,000 after purchasing an additional 1,333,005 shares during the last quarter. Finally, Swedbank AB grew its stake in shares of Warner Bros. Discovery by 3.7% in the 3rd quarter. Swedbank AB now owns 1,065,445 shares of the company’s stock valued at $20,808,000 after buying an additional 37,986 shares during the period. Institutional investors and hedge funds own 59.95% of the company’s stock.

Insider Buying and Selling at Warner Bros. Discovery

In other news, CAO Lori C. Locke sold 4,122 shares of the company’s stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $28.92, for a total transaction of $119,208.24. Following the completion of the transaction, the chief accounting officer directly owned 100,962 shares of the company’s stock, valued at approximately $2,919,821.04. This represents a 3.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Gunnar Wiedenfels sold 242,994 shares of the stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $29.50, for a total value of $7,168,323.00. Following the completion of the transaction, the chief financial officer owned 918,940 shares in the company, valued at approximately $27,108,730. The trade was a 20.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 489,326 shares of company stock valued at $12,781,456. Corporate insiders own 1.80% of the company’s stock.

Warner Bros. Discovery Price Performance

Shares of NASDAQ WBD opened at $27.98 on Thursday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.07 and a quick ratio of 1.07. The company has a market cap of $69.33 billion, a price-to-earnings ratio of 147.27 and a beta of 1.56. The stock’s 50-day moving average is $27.51 and its two-hundred day moving average is $20.36. Warner Bros. Discovery, Inc. has a 1-year low of $7.52 and a 1-year high of $30.00.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). The company had revenue of $9.05 billion for the quarter, compared to analyst estimates of $9.17 billion. Warner Bros. Discovery had a return on equity of 1.34% and a net margin of 1.28%.The business’s quarterly revenue was down 6.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.05 earnings per share. Analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on WBD shares. Redburn Partners set a $28.00 price target on shares of Warner Bros. Discovery in a research report on Thursday, October 30th. UBS Group lifted their target price on Warner Bros. Discovery from $20.00 to $30.00 and gave the company a “neutral” rating in a research report on Wednesday. Weiss Ratings upgraded Warner Bros. Discovery from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, January 20th. Arete Research raised their price objective on Warner Bros. Discovery from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Finally, Argus upped their target price on shares of Warner Bros. Discovery from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat.com, Warner Bros. Discovery has a consensus rating of “Moderate Buy” and an average price target of $24.85.

Warner Bros. Discovery Profile

Warner Bros. Discovery (NASDAQ: WBD) is a global media and entertainment company formed when WarnerMedia and Discovery, Inc combined their businesses in 2022. Headquartered in New York City, the company assembles a broad portfolio of film and television production, linear and cable networks, streaming services and consumer distribution operations. Its assets span well-known studio brands, premium scripted and unscripted programming, news and factual entertainment, and licensed franchise properties.

The company’s core activities include film and television production and distribution through units such as Warner Bros.