Sequoia Financial Advisors LLC Sells 7,620 Shares of Warner Bros. Discovery, Inc. $WBD

Sequoia Financial Advisors LLC trimmed its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 12.1% during the second quarter, Holdings Channel.com reports. The fund owned 55,346 shares of the company’s stock after selling 7,620 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Warner Bros. Discovery were worth $634,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of WBD. WPG Advisers LLC bought a new position in Warner Bros. Discovery during the first quarter worth about $26,000. Financial Gravity Asset Management Inc. bought a new position in Warner Bros. Discovery during the first quarter worth about $27,000. North Capital Inc. bought a new position in Warner Bros. Discovery during the first quarter worth about $28,000. Smallwood Wealth Investment Management LLC bought a new position in Warner Bros. Discovery in the 1st quarter valued at about $29,000. Finally, Golden State Wealth Management LLC increased its holdings in 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 buying an additional 2,352 shares during the period. 59.95% of the stock is owned by institutional investors.

Warner Bros. Discovery Trading Down 0.5%

WBD opened at $18.19 on Monday. The company’s 50 day moving average is $15.52 and its 200-day moving average is $12.07. Warner Bros. Discovery, Inc. has a 1-year low of $7.25 and a 1-year 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 company has a market cap of $45.03 billion, a P/E ratio of 60.64, a PEG ratio of 2.22 and a beta of 1.73.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.63 earnings per share 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 company had revenue of $9.81 billion for the quarter, compared to the consensus estimate of $9.73 billion. During the same period last year, the company posted ($4.07) EPS. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. Equities research analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Gunnar Wiedenfels sold 530,793 shares of Warner Bros. Discovery stock in a transaction that occurred on 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 sale, the chief financial officer directly owned 1,141,150 shares in the company, valued at $22,252,425. This trade represents a 31.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Anton J. Levy bought 75,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 12th. The shares were acquired at an average price of $11.00 per share, for a total transaction of $825,000.00. Following the completion of the transaction, the director owned 949,000 shares in the company, valued at $10,439,000. This trade represents a 8.58% increase in their ownership of the stock. 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. Corporate insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

WBD has been the topic of several recent analyst reports. The Goldman Sachs Group raised their target price on shares of Warner Bros. Discovery from $11.50 to $13.00 and gave the company a “neutral” rating in a report on Tuesday, September 30th. TD Cowen reissued a “hold” rating and issued a $14.00 target price on shares of Warner Bros. Discovery in a report on Tuesday, September 16th. KeyCorp reissued a “sector weight” rating on shares of Warner Bros. Discovery in a report on Friday, September 26th. Barclays set a $20.00 target price on shares of Warner Bros. Discovery in a report on Wednesday, October 8th. Finally, Barrington Research reissued an “outperform” rating and issued a $16.00 target price on shares of Warner Bros. Discovery in a report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and sixteen have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $17.00.

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.