Fifth Third Wealth Advisors LLC Has $213,000 Stock Holdings in Warner Bros. Discovery, Inc. $WBD

Fifth Third Wealth Advisors LLC trimmed its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 5.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,610 shares of the company’s stock after selling 1,146 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Warner Bros. Discovery were worth $213,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. WPG Advisers LLC acquired a new position in shares of Warner Bros. Discovery in the 1st quarter valued at about $26,000. Financial Gravity Asset Management Inc. acquired a new position in shares of Warner Bros. Discovery in the 1st quarter valued at about $27,000. North Capital Inc. acquired a new position in shares of Warner Bros. Discovery in the 1st quarter valued at about $28,000. Smallwood Wealth Investment Management LLC acquired a new position in shares of Warner Bros. Discovery in the 1st quarter valued at about $29,000. Finally, Golden State Wealth Management LLC lifted its stake in shares of Warner Bros. Discovery by 448.0% in the 1st 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 period. 59.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on WBD. Bank of America upped their price target on Warner Bros. Discovery from $16.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, September 30th. KeyCorp reaffirmed a “sector weight” rating on shares of Warner Bros. Discovery in a research note on Friday, September 26th. Barrington Research reaffirmed an “outperform” rating and set a $16.00 price target on shares of Warner Bros. Discovery in a research note on Wednesday, July 30th. Needham & Company LLC reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a research note on Friday, September 12th. Finally, Moffett Nathanson upped their price target on Warner Bros. Discovery from $14.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, September 22nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and sixteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Warner Bros. Discovery currently has an average rating of “Hold” and an average price target of $16.61.

Warner Bros. Discovery Stock Performance

Shares of Warner Bros. Discovery stock opened at $17.98 on Wednesday. The company has a market cap of $44.51 billion, a PE ratio of 59.94, a price-to-earnings-growth ratio of 2.17 and a beta of 1.73. Warner Bros. Discovery, Inc. has a 52 week low of $7.25 and a 52 week high of $20.24. The business has a 50 day moving average price of $15.14 and a 200-day moving average price of $11.89. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.92.

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

Insider Activity

In other Warner Bros. Discovery news, Director Anton J. Levy bought 250,000 shares of Warner Bros. Discovery stock in a transaction dated 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 acquisition, the director directly owned 874,000 shares in the company, valued at approximately $9,526,600. The trade was a 40.06% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Bruce Campbell sold 289,322 shares of the company’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $16.48, for a total value of $4,768,026.56. Following the completion of the transaction, the insider directly owned 402,464 shares of the company’s stock, valued at approximately $6,632,606.72. This represents a 41.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 970,115 shares of company stock valued at $17,818,490 over the last three months. Corporate insiders own 1.80% of the company’s stock.

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.