Warner Bros. Discovery, Inc. $WBD Shares Sold by HB Wealth Management LLC

Key Points

• HB Wealth Management LLC reduced its holdings in Warner Bros. Discovery by 27.3% in Q2, now owning 198,181 shares valued at approximately $2.27 million.
• Several institutional investors increased their positions in Warner Bros. Discovery, with V Square Quantitative Management LLC raising its stake by 217.3% during the same quarter.
• Warner Bros. Discovery reported a quarterly EPS of $0.63, exceeding analysts' expectations and showing a 1% increase in revenue compared to the previous year.

HB Wealth Management LLC lowered its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 27.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 198,181 shares of the company's stock after selling 74,553 shares during the period. HB Wealth Management LLC's holdings in Warner Bros. Discovery were worth $2,271,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. V Square Quantitative Management LLC increased its position in shares of Warner Bros. Discovery by 217.3% in the second quarter. V Square Quantitative Management LLC now owns 83,675 shares of the company's stock worth $959,000 after acquiring an additional 57,307 shares in the last quarter. Guardian Investment Management grew its holdings in Warner Bros. Discovery by 9.4% during the 2nd quarter. Guardian Investment Management now owns 91,703 shares of the company's stock valued at $1,051,000 after purchasing an additional 7,856 shares in the last quarter. Avior Wealth Management LLC grew its holdings in Warner Bros. Discovery by 8.8% during the 2nd quarter. Avior Wealth Management LLC now owns 14,545 shares of the company's stock valued at $167,000 after purchasing an additional 1,176 shares in the last quarter. Sterneck Capital Management LLC acquired a new stake in Warner Bros. Discovery during the 2nd quarter valued at $126,000. Finally, ORG Wealth Partners LLC grew its holdings in Warner Bros. Discovery by 831.3% during the 2nd quarter. ORG Wealth Partners LLC now owns 7,320 shares of the company's stock valued at $80,000 after purchasing an additional 6,534 shares in the last quarter. Institutional investors and hedge funds own 59.95% of the company's stock.

Warner Bros. Discovery Trading Down 0.9%

NASDAQ WBD opened at $19.35 on Thursday. Warner Bros. Discovery, Inc. has a 12 month low of $7.25 and a 12 month high of $20.24. 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 company has a market capitalization of $47.91 billion, a price-to-earnings ratio of 64.50, a price-to-earnings-growth ratio of 2.50 and a beta of 1.73. The company's fifty day moving average price is $14.22 and its two-hundred day moving average price is $11.41.

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

Insider Transactions at Warner Bros. Discovery

In other news, insider Bruce Campbell sold 289,322 shares of the firm's stock in a transaction dated 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 transaction, the insider directly owned 402,464 shares in the company, valued at approximately $6,632,606.72. This trade represents a 41.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Anton J. Levy purchased 250,000 shares of Warner Bros. Discovery stock in a transaction dated Monday, August 11th. The stock was acquired at an average price of $10.90 per share, for a total transaction of $2,725,000.00. Following the completion of the transaction, the director owned 874,000 shares in the company, valued at approximately $9,526,600. The trade was a 40.06% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have sold 970,115 shares of company stock worth $17,818,490. 1.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

WBD has been the subject of a number of recent analyst reports. UBS Group raised their price target on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the company a "neutral" rating in a report on Tuesday, July 8th. KeyCorp reaffirmed a "sector weight" rating on shares of Warner Bros. Discovery in a report on Friday, September 26th. The Goldman Sachs Group raised their price target on shares of Warner Bros. Discovery from $11.50 to $13.00 and gave the company a "neutral" rating in a report on Tuesday. Moffett Nathanson raised their price target on shares of Warner Bros. Discovery from $14.00 to $23.00 and gave the company a "buy" rating in a report on Monday, September 22nd. Finally, Wells Fargo & Company raised their price target on shares of Warner Bros. Discovery from $13.00 to $14.00 and gave the company an "equal weight" rating in a report on Thursday, September 11th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and fifteen have given a Hold rating to the company's stock. According to MarketBeat.com, Warner Bros. Discovery has an average rating of "Hold" and a consensus price target of $14.64.

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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