Inlight Wealth Management LLC Trims Stock Holdings in Warner Bros. Discovery, Inc. $WBD

Key Points

• Inlight Wealth Management LLC significantly reduced its stake in Warner Bros. Discovery, selling 16,441 shares, which is a 56.5% decrease, leaving them with 12,674 shares valued at $145,000.
• Several other institutional investors have increased their holdings in Warner Bros. Discovery, including Beacon Financial Advisory LLC, which raised its stake by 42.3% during the same quarter.
• Insider trading was notable, with CEO and other executives selling a total of 970,115 shares worth approximately $17.8 million over the last 90 days.

Inlight Wealth Management LLC lessened its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 56.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,674 shares of the company's stock after selling 16,441 shares during the quarter. Inlight Wealth Management LLC's holdings in Warner Bros. Discovery were worth $145,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WBD. Investors Asset Management of Georgia Inc. GA ADV grew its holdings in shares of Warner Bros. Discovery by 9.7% during the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 13,704 shares of the company's stock worth $157,000 after buying an additional 1,213 shares in the last quarter. Sendero Wealth Management LLC grew its stake in Warner Bros. Discovery by 21.4% in the 2nd quarter. Sendero Wealth Management LLC now owns 487,114 shares of the company's stock worth $5,582,000 after acquiring an additional 85,906 shares during the period. Beacon Financial Advisory LLC raised its holdings in Warner Bros. Discovery by 42.3% in the 2nd quarter. Beacon Financial Advisory LLC now owns 18,017 shares of the company's stock valued at $206,000 after acquiring an additional 5,357 shares during the last quarter. QRG Capital Management Inc. lifted its stake in shares of Warner Bros. Discovery by 7.7% during the 2nd quarter. QRG Capital Management Inc. now owns 21,010 shares of the company's stock worth $241,000 after purchasing an additional 1,510 shares during the period. Finally, Ameritas Advisory Services LLC acquired a new stake in shares of Warner Bros. Discovery during the second quarter worth $101,000. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Warner Bros. Discovery

In other news, insider Bruce Campbell sold 150,000 shares of Warner Bros. Discovery stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $18.00, for a total transaction of $2,700,000.00. Following the sale, the insider owned 252,464 shares in the company, valued at $4,544,352. This trade represents a 37.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Gunnar Wiedenfels sold 530,793 shares of the business's stock in a transaction on 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 transaction, the chief financial officer directly owned 1,141,150 shares in the company, valued at approximately $22,252,425. The trade was a 31.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 970,115 shares of company stock valued at $17,818,490 over the last 90 days. 1.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Needham & Company LLC reissued a "hold" rating on shares of Warner Bros. Discovery in a research note on Friday, September 12th. Benchmark restated a "buy" rating and issued a $18.00 target price on shares of Warner Bros. Discovery in a report on Monday, July 14th. Raymond James Financial increased their price target on shares of Warner Bros. Discovery from $13.00 to $22.00 and gave the stock an "outperform" rating in a research note on Thursday. Moffett Nathanson boosted their price objective on shares of Warner Bros. Discovery from $14.00 to $23.00 and gave the company a "buy" rating in a research note on Monday, September 22nd. Finally, The Goldman Sachs Group increased their target price on Warner Bros. Discovery from $11.50 to $13.00 and gave the stock a "neutral" rating in a research report on Tuesday, September 30th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $15.14.

Warner Bros. Discovery Trading Down 1.3%

Shares of WBD opened at $18.99 on Monday. Warner Bros. Discovery, Inc. has a 12 month low of $7.25 and a 12 month high of $20.24. The stock's 50-day moving average is $14.45 and its two-hundred day moving average is $11.54. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a market cap of $47.01 billion, a PE ratio of 63.30, a P/E/G ratio of 2.35 and a beta of 1.73.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.63 EPS for the quarter, beating the consensus estimate of ($0.16) by $0.79. The business had revenue of $9.81 billion for 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 revenue was up 1.0% on a year-over-year basis. During the same period last year, the business posted ($4.07) EPS. Equities analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

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.

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