Sendero Wealth Management LLC Purchases 85,906 Shares of Warner Bros. Discovery, Inc. $WBD

Sendero Wealth Management LLC boosted its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 21.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 487,114 shares of the company's stock after purchasing an additional 85,906 shares during the quarter. Warner Bros. Discovery accounts for about 0.7% of Sendero Wealth Management LLC's investment portfolio, making the stock its 29th biggest holding. Sendero Wealth Management LLC's holdings in Warner Bros. Discovery were worth $5,582,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Voya Investment Management LLC increased its position in shares of Warner Bros. Discovery by 34.9% in the 1st quarter. Voya Investment Management LLC now owns 7,035,842 shares of the company's stock valued at $75,495,000 after buying an additional 1,820,249 shares in the last quarter. Bfsg LLC increased its holdings in shares of Warner Bros. Discovery by 11.2% in the second quarter. Bfsg LLC now owns 156,906 shares of the company's stock worth $1,798,000 after acquiring an additional 15,786 shares in the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Warner Bros. Discovery during the second quarter worth about $4,089,000. Hi Line Capital Management LLC lifted its holdings in shares of Warner Bros. Discovery by 17.8% during the 1st quarter. Hi Line Capital Management LLC now owns 597,478 shares of the company's stock valued at $6,411,000 after purchasing an additional 90,462 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. grew its position in shares of Warner Bros. Discovery by 4.3% in the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 878,600 shares of the company's stock valued at $10,069,000 after purchasing an additional 36,100 shares during the period. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Warner Bros. Discovery

In other Warner Bros. Discovery news, insider Bruce Campbell sold 289,322 shares of the stock in a transaction 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 sale, the insider owned 402,464 shares in the company, valued at $6,632,606.72. This trade represents a 41.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Gunnar Wiedenfels sold 530,793 shares of Warner Bros. Discovery stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $19.50, for a total transaction of $10,350,463.50. Following the completion of the transaction, the chief financial officer directly 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 disclosure for this sale can be found here. Over the last three months, insiders sold 970,115 shares of company stock valued at $17,818,490. 1.90% of the stock is owned by corporate insiders.

Warner Bros. Discovery Price Performance

Shares of NASDAQ WBD opened at $18.99 on Monday. 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 business has a 50-day moving average of $14.45 and a 200-day moving average of $11.54. The stock has a market capitalization of $47.01 billion, a price-to-earnings ratio of 63.30, a PEG ratio of 2.35 and a beta of 1.73. Warner Bros. Discovery, Inc. has a fifty-two week low of $7.25 and a fifty-two week high of $20.24.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.79. The business had revenue of $9.81 billion for the quarter, compared to analyst estimates of $9.73 billion. Warner Bros. Discovery had a return on equity of 2.14% and a net margin of 2.00%.Warner Bros. Discovery's revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($4.07) earnings per share. As a group, sell-side analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Morgan Stanley raised their target price on shares of Warner Bros. Discovery from $13.00 to $15.00 and gave the stock an "equal weight" rating in a report on Thursday, September 25th. Bank of America raised their price objective on shares of Warner Bros. Discovery from $16.00 to $24.00 and gave the stock a "buy" rating in a report on Tuesday, September 30th. TD Cowen reaffirmed a "hold" rating and issued a $14.00 target price on shares of Warner Bros. Discovery in a research note on Tuesday, September 16th. Needham & Company LLC reissued a "hold" rating on shares of Warner Bros. Discovery in a research note on Friday, September 12th. Finally, Sanford C. Bernstein boosted their price target on Warner Bros. Discovery from $13.00 to $16.00 and gave the company a "market perform" rating in a report on Monday, September 22nd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Warner Bros. Discovery has a consensus rating of "Hold" and an average target price of $15.14.

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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