Warner Bros. Discovery, Inc. $WBD Shares Sold by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC cut its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 28.6% in the third quarter, Holdings Channel.com reports. The fund owned 145,914 shares of the company’s stock after selling 58,548 shares during the quarter. 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).

Several other large investors also recently bought and sold shares of the stock. Brighton Jones LLC boosted its position in shares of Warner Bros. Discovery by 304.9% in the 4th quarter. Brighton Jones LLC now owns 68,950 shares of the company’s stock valued at $729,000 after purchasing an additional 51,920 shares during the period. NewEdge Advisors LLC increased its position in Warner Bros. Discovery by 50.5% during the first quarter. NewEdge Advisors LLC now owns 63,254 shares of the company’s stock worth $679,000 after buying an additional 21,228 shares during the period. Empowered Funds LLC lifted its stake in Warner Bros. Discovery by 6.2% in the first quarter. Empowered Funds LLC now owns 65,082 shares of the company’s stock valued at $698,000 after buying an additional 3,779 shares during the last quarter. Focus Partners Wealth boosted its holdings in shares of Warner Bros. Discovery by 91.6% in the first quarter. Focus Partners Wealth now owns 116,821 shares of the company’s stock valued at $1,254,000 after acquiring an additional 55,837 shares during the period. Finally, Farther Finance Advisors LLC boosted its holdings in shares of Warner Bros. Discovery by 10.9% in the second quarter. Farther Finance Advisors LLC now owns 13,148 shares of the company’s stock valued at $151,000 after acquiring an additional 1,295 shares during the period. Institutional investors and hedge funds own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Down 0.3%

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. Warner Bros. Discovery, Inc. has a 12 month low of $7.52 and a 12 month high of $30.00. The stock has a market capitalization of $69.33 billion, a P/E ratio of 147.27 and a beta of 1.56. The business has a 50 day simple moving average of $27.51 and a 200-day simple moving average of $20.36.

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

Insider Activity

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on WBD shares. The Goldman Sachs Group lifted their target price on shares of Warner Bros. Discovery from $13.00 to $14.75 and gave the company a “buy” rating in a report on Friday, November 7th. UBS Group lifted their price objective on shares of Warner Bros. Discovery from $20.00 to $30.00 and gave the company a “neutral” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $29.50 target price on shares of Warner Bros. Discovery in a report on Monday, December 8th. Redburn Partners set a $28.00 target price on shares of Warner Bros. Discovery in a research note on Thursday, October 30th. Finally, Rothschild & Co Redburn upgraded Warner Bros. Discovery from a “neutral” rating to a “buy” rating and set a $28.00 price target on the stock in a research report on Thursday, October 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.85.

Warner Bros. Discovery Company 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.