Warner Bros. Discovery, Inc. $WBD Shares Sold by Diligent Investors LLC

Diligent Investors LLC trimmed its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 24.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,664 shares of the company’s stock after selling 3,498 shares during the period. Diligent Investors LLC’s holdings in Warner Bros. Discovery were worth $122,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. WPG Advisers LLC acquired a new stake in shares of Warner Bros. Discovery in the first quarter worth approximately $26,000. Financial Gravity Asset Management Inc. acquired a new position in shares of Warner Bros. Discovery in the 1st quarter valued at $27,000. North Capital Inc. acquired a new position in shares of Warner Bros. Discovery in the 1st quarter valued at $28,000. Smallwood Wealth Investment Management LLC acquired a new position in shares of Warner Bros. Discovery in the 1st quarter valued at $29,000. Finally, Golden State Wealth Management LLC boosted its holdings in shares of Warner Bros. Discovery by 448.0% in the 1st quarter. Golden State Wealth Management LLC now owns 2,877 shares of the company’s stock valued at $31,000 after purchasing an additional 2,352 shares during the last quarter. 59.95% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Warner Bros. Discovery news, insider Bruce Campbell sold 289,322 shares of the company’s stock in a transaction that occurred on Thursday, September 11th. The stock was 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 of the company’s stock, valued at $6,632,606.72. This represents a 41.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Gunnar Wiedenfels sold 530,793 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $19.50, for a total value of $10,350,463.50. Following the completion of 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. Over the last 90 days, insiders have sold 970,115 shares of company stock worth $17,818,490. 1.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on WBD shares. Guggenheim reiterated a “buy” rating on shares of Warner Bros. Discovery in a report on Tuesday, June 10th. Sanford C. Bernstein lifted their price objective on Warner Bros. Discovery from $13.00 to $16.00 and gave the company a “market perform” rating in a research note on Monday, September 22nd. Seaport Global Securities lifted their price objective on Warner Bros. Discovery from $15.00 to $24.00 and gave the company a “buy” rating in a research note on Friday. Benchmark reaffirmed a “buy” rating and set a $18.00 price target on shares of Warner Bros. Discovery in a research report on Monday, July 14th. Finally, The Goldman Sachs Group lifted their price target on shares of Warner Bros. Discovery from $11.50 to $13.00 and gave the company 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 issued a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $15.14.

Warner Bros. Discovery Stock Performance

Warner Bros. Discovery stock opened at $18.99 on Friday. The stock’s 50 day moving average price is $14.45 and its 200 day moving average price is $11.54. Warner Bros. Discovery, Inc. has a one year low of $7.25 and a one year high of $20.24. 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 firm has a market capitalization of $47.01 billion, a PE ratio of 63.30, a price-to-earnings-growth ratio of 2.43 and a beta of 1.73.

Warner Bros. Discovery (NASDAQ:WBD) last posted its earnings results on Thursday, August 7th. The company reported $0.63 EPS for the quarter, topping 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 business had revenue of $9.81 billion for the quarter, compared to analysts’ expectations of $9.73 billion. During the same period in the previous year, the company posted ($4.07) earnings per share. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. As a group, sell-side analysts expect that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Warner Bros. Discovery 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.