Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by Sienna Gestion

Key Points

• Sienna Gestion reduced its holdings in Warner Bros. Discovery by 6.1% in Q1, owning 505,484 shares valued at approximately $5.27 million after selling 32,990 shares.
• The company reported an EPS of $0.63 for the latest quarter, beating analysts' estimates, with revenue of $9.81 billion, a 1.0% increase year-over-year.
• Analysts have mixed opinions on the stock, with target price changes ranging from $9.00 to $18.00, as 11 analysts gave it a hold rating and 8 assigned a buy rating.

Sienna Gestion decreased its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 6.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 505,484 shares of the company's stock after selling 32,990 shares during the period. Sienna Gestion's holdings in Warner Bros. Discovery were worth $5,272,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in WBD. Nuveen LLC purchased a new stake in shares of Warner Bros. Discovery in the first quarter valued at approximately $96,971,000. Slate Path Capital LP boosted its position in Warner Bros. Discovery by 36.6% during the fourth quarter. Slate Path Capital LP now owns 23,801,000 shares of the company's stock worth $251,577,000 after purchasing an additional 6,381,000 shares in the last quarter. KBC Group NV boosted its position in Warner Bros. Discovery by 682.8% during the first quarter. KBC Group NV now owns 7,145,308 shares of the company's stock worth $76,669,000 after purchasing an additional 6,232,561 shares in the last quarter. Sachem Head Capital Management LP purchased a new stake in Warner Bros. Discovery during the fourth quarter worth $64,847,000. Finally, Duquesne Family Office LLC purchased a new stake in Warner Bros. Discovery during the fourth quarter worth $49,231,000. Institutional investors and hedge funds own 59.95% of the company's stock.

Warner Bros. Discovery Trading Up 7.4%

Shares of WBD opened at $12.05 on Thursday. The company has a market capitalization of $29.58 billion, a P/E ratio of 40.17, a P/E/G ratio of 2.66 and a beta of 1.57. Warner Bros. Discovery, Inc. has a one year low of $6.78 and a one year high of $13.86. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a 50-day moving average price of $11.60 and a 200 day moving average price of $10.35.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.63 EPS for the quarter, beating analysts' consensus estimates 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%. Warner Bros. Discovery's revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the business posted ($4.07) earnings per share. Sell-side analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Anton J. Levy bought 250,000 shares of Warner Bros. Discovery stock in a transaction on Monday, August 11th. The shares were bought at an average price of $10.90 per share, with a total value of $2,725,000.00. Following the acquisition, the director directly owned 874,000 shares in the company, valued at approximately $9,526,600. This represents a 40.06% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on WBD shares. Raymond James Financial decreased their target price on Warner Bros. Discovery from $14.00 to $13.00 and set an "outperform" rating on the stock in a research report on Friday, August 8th. Wells Fargo & Company boosted their target price on Warner Bros. Discovery from $11.00 to $13.00 and gave the stock an "equal weight" rating in a research report on Friday, August 8th. UBS Group boosted their target price on Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 8th. KeyCorp decreased their target price on Warner Bros. Discovery from $18.00 to $16.00 and set an "overweight" rating on the stock in a research report on Friday, August 8th. Finally, Guggenheim reissued a "buy" rating on shares of Warner Bros. Discovery in a report on Tuesday, June 10th. Eleven analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Warner Bros. Discovery currently has a consensus rating of "Moderate Buy" and a consensus price target of $13.14.

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.

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