LRI Investments LLC Acquires 4,076 Shares of Warner Bros. Discovery, Inc. $WBD

LRI Investments LLC raised its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 75.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,454 shares of the company’s stock after purchasing an additional 4,076 shares during the period. LRI Investments LLC’s holdings in Warner Bros. Discovery were worth $108,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. WPG Advisers LLC bought a new position in shares of Warner Bros. Discovery during the first quarter valued at approximately $26,000. Financial Gravity Asset Management Inc. bought a new position in shares of Warner Bros. Discovery during the first quarter valued at approximately $27,000. North Capital Inc. bought a new position in shares of Warner Bros. Discovery during the first quarter valued at approximately $28,000. Smallwood Wealth Investment Management LLC bought a new position in shares of Warner Bros. Discovery during the first quarter valued at approximately $29,000. Finally, Golden State Wealth Management LLC increased its stake in shares of Warner Bros. Discovery by 448.0% during the first 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 in the last quarter. Institutional investors own 59.95% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on WBD shares. Cowen downgraded shares of Warner Bros. Discovery from a “buy” rating to a “hold” rating in a research report on Tuesday, September 16th. Barrington Research reissued an “outperform” rating and set a $16.00 price target on shares of Warner Bros. Discovery in a research report on Wednesday, July 30th. Needham & Company LLC reissued a “hold” rating on shares of Warner Bros. Discovery in a research report on Friday, September 12th. Sanford C. Bernstein raised their price target on shares of Warner Bros. Discovery from $13.00 to $16.00 and gave the company a “market perform” rating in a research 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 research report on Thursday, September 11th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and sixteen have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $16.61.

Insider Buying and Selling

In other news, insider Bruce Campbell sold 150,000 shares of Warner Bros. Discovery stock in a transaction 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 transaction, the insider owned 252,464 shares in the company, valued at $4,544,352. This trade represents a 37.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Gunnar Wiedenfels sold 530,793 shares of Warner Bros. Discovery 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 owned 1,141,150 shares in the company, valued at $22,252,425. This represents a 31.75% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 970,115 shares of company stock worth $17,818,490. 1.80% of the stock is owned by insiders.

Warner Bros. Discovery Trading Up 4.0%

Shares of WBD stock opened at $17.78 on Tuesday. Warner Bros. Discovery, Inc. has a 12-month low of $7.25 and a 12-month high of $20.24. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.92. The firm’s 50 day moving average is $15.03 and its 200 day moving average is $11.85. The stock has a market capitalization of $44.02 billion, a P/E ratio of 59.27, a P/E/G ratio of 2.00 and a beta of 1.73.

Warner Bros. Discovery (NASDAQ:WBD) last issued 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. Warner Bros. Discovery had a net margin of 2.00% and a return on equity of 2.14%. The company had revenue of $9.81 billion for the quarter, compared to analysts’ expectations of $9.73 billion. During the same quarter last year, the company posted ($4.07) earnings per share. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. Research analysts expect that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current 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.